Nov. 26, 2013 Tuesday

Senator JV Ejercito is asking the Bureau of Internal Revenue to show mercy to calamity victims by granting and implementing a two-year moratorium on all kinds of taxes in the areas hardest-hit by super typhoon Yolanda.

Through Senate Resolution 370, Ejercito urged the Bureau to impose a two-year tax freeze in Samar, Leyte, Iloilo, Capiz, Aklan, Palawan and other devastated areas to free calamity victims from temporarily complying with tax payments and to protect them from penalties arising from failure to comply with national tax laws.

This tax relief, he said, will accelerate the recovery of livelihood activities and business enterprises, and also spur employment and investment in severely affected areas.

“I urge the BIR to extend all necessary assistance to the calamity victims, including employers and investors, by granting and implementing in their areas a two-year tax freeze. I ask the Bureau to help in the effort to rebuild and restore their businesses in order for them to continuously provide employment opportunities and boost the economic state of the damaged areas,” Ejercito, Chairman of the Senate Committee on Economic Affairs said.

Three weeks after super typhoon Yolanda ravaged the country, the amount of property, infrastructure and agricultural damages incurred has been pegged to at least P22.66 Billion.

Other areas severely hit by super typhoon Yolanda include CALABARZON, MIMAROPA, Bicol Region, Western Visayas, Central Visayas, Northern Mindanao, Davao and Caraga Region.