Pia lauds approval of IRR of Expanded Senior Citizens Act;
Calls on BIR to expedite implementation of VAT exemption for seniors

"I welcome the promulgation today of the much-anticipated Internal Rules and Regulations (IRR) of the Expanded Senior Citizens Act of 2010 (Republic Act 9994). This law will exempt our elderly from paying the 12 percent Value-Added Tax (VAT), giving them much-needed relief from the rising costs of services and especially, medicines."

"I call on all concerned agencies, particularly the Bureau of Internal Revenue (BIR) to expedite the release of revenue regulations that would govern establishments in the application and invoicing of the senior citizens discount and VAT exemption. But I still hope that the BIR would be able to comply even before the 30-day period given them under the IRR, so our lolas and lolas need not wait any longer."

Note: Before VAT exemption for seniors become fully effective, the IRR still needs to be published and will only be deemed effective 15 days after publication. After this, the BIR will be given another 30 days to come up with revenue regulations to govern establishments in the application and invoicing of the discount and VAT exemption.