Private schools expect senate to Pass bill on tax relief soon
THe country’s largest associations of private schools expressed hope that the Senate will soon pass Senate Bill 2272, granting preferential tax rates to educational institutions amid the pandemic, after most senators signed as co-authors of the proposed measure.
in a joint statement, the groups led by the Coordinating Council of Private educational Associations (Cocopea) expressed their gratitude to Sen. Pia Cayetano, chairperson of the Senate Committee on Ways and Means, Sen. Juan edgardo Angara, sponsor of Senate Bill 2272 and 14 other senators for their swift and decisive support of the bill, which aims to amend Section 27(b) of the National internal Revenue Code to secure with finality the grant of a preferential tax rate of 10 percent for proprietary schools, including the temporarily lowered rate of 1 percent during the pandemic, under the CREATE Act.
“We pray for our senators that they may continue to be filled with courage and the strength of purpose to urgently pass this landmark legislation for Philippine education within the 18th Congress,” the educational associations said in the joint statement.
other senators who responded to the groups’ call for the urgent passage of SB 2272 amid the threat to the survival of many affected private schools throughout the country are Senators Joel villanueva, Ralph G. Recto, Juan Miguel “Migz” F. Zubiri, Maria Lourdes Nancy S. Binay, Win Gatchalian, Grace L. Poe, Richard J. Gordon, Francis “Kiko” N. Pangilinan, Risa Hontiveros, emmanuel “Manny” d. Pacquiao, Ramon Bong Revilla Jr., Cynthia A. villar and Leila M. de Lima.
The private school groups also thanked Sen. Franklin M. drilon for strongly urging the Bureau of internal Revenue and the department of Finance to suspend RR 5-2021 which increases the tax rate on private school and Sen. de Lima for filing Senate Resolution 766 urging the President to suspend the implementation of RR 5-2021.
“We thank Senators Cayetano Angara, drilon, Pangilinan, villanueva, Hontiveros, Gordon, Marcos and villar for verbally manifesting their support of SB 2272 during the June 30, 2021 hearing of the Ways and Means Committee,” said Cocopea Managing director Atty. Joseph Noel M. estrada.
“We are also grateful that chairperson Senator Pia Cayetano vowed on August 2, 2021 to move for the swift passage of the bill once the approved version of the House of Representatives’ counterpart authored by Congressman Joey Salceda and 75 other congressmen is transmitted to the Senate,” estrada said.
The educational groups expressed hope that the bill would signed into law before the new school year starts this August and September, “so that our schools can fully focus on dealing with the learning crisis and the Covid-19 pandemic that our country is currently grappling with.”