(Eagle News) — Senator Paolo “Bam” Aquino said he is committed to block the removal of the ten percent preferential tax rate for private non-profit schools and hospitals under the proposed TRAIN 2.
The senator said believes that if this will happen, it will only lead to the increase of tuition fee and hospital fees.
Currently, the non-profit educational institutions and non-profit hospitals are receiving a 10 percent preferential tax rate.
But under the second tax reform package, these institutions may be taxed of up to 25%, which is more than double their current rate, leaving them with less money to invest in quality education for their students.
“Sa dulo, ang mga pamilyang nagpapaaral din ang papasan nito kaya tataas ang matrikula,” said Sen. Bam.
“Nalulunod na nga sa taas presyo ng bilihin, tataas pa ang gastos sa eskuwela,” said Aquino. “Maawa naman po kayo sa ating mga kababayan. Dagdag na pahirap na naman ito sa pamilyang Pilipino.”
The Senator appealed to Congress that instead of working on the passage of the second tax reform package, it should address the gaps in TRAIN 1 and pass the Senate Bill No. 1798, or his “Bawas Presyo Bill”.
The said bill aims to suspend the excise tax on fuel under the TRAIN Law when the average inflation rate surpasses the annual inflation target over a three-month period.
“Solusyunan at aksyunan na natin ang Bawas Presyo Bill upang bigyan ng ginhawa ang mga Pilipinong nalulunod sa taas-presyo,” said Sen. Bam.
“Huwag naman natin hayaan na itaas pa ng gobyerno ang presyo ng petrolyo habang nalulunod ang mga Pilipino sa gastos,” he stressed.
Senator Aquino is one of the four senators who voted against the ratification of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.