06-02-2019, 02:39 PM
(Republic Act 10754, July 25, 2016)
Persons with disabilities (PWD) can again be considered as qualified dependents for tax purposes. In line with this purpose, the establishments may claim the discounts it granted as tax deductions based on the net cost of goods sold or services rendered. The claim for deductions can only be done in the same taxable year the discount is granted. Such claim shall be included in gross sales receipts subject to proper documentation for tax purposes. In addition, taxpayers taking care of PWDs who are within their fourth civil degree of consanguinity or affinity may include these PWDs in their list of dependents and enjoy the corresponding additional personal exemption of P25,000 for tax purposes. To qualify as dependents, the PWDs should be unemployed and chiefly dependent on the taxpayer for support.
Persons with disabilities (PWD) can again be considered as qualified dependents for tax purposes. In line with this purpose, the establishments may claim the discounts it granted as tax deductions based on the net cost of goods sold or services rendered. The claim for deductions can only be done in the same taxable year the discount is granted. Such claim shall be included in gross sales receipts subject to proper documentation for tax purposes. In addition, taxpayers taking care of PWDs who are within their fourth civil degree of consanguinity or affinity may include these PWDs in their list of dependents and enjoy the corresponding additional personal exemption of P25,000 for tax purposes. To qualify as dependents, the PWDs should be unemployed and chiefly dependent on the taxpayer for support.