Photo Release

July 13, 2017

RECONSIDER TAX ON LOW-COST HOUSING: Sen. Cynthia Villar has urged Department of Finance officials to reconsider its plan to lift the tax exemption for the purchase of house and lot worth P3 million and below. Villar said the move will not work for the benefit of overseas Filipino workers who consist the bulk of home buyers. Villar, who was a banker and financial analyst before her assumption to public office, also argued that shelter as a basic need is an investment and should not fall under the consumption tax. Villar made this statement during the Committee on Ways and Means hearing on Senate Bill 1408 or the Tax Reform for Acceleration and Inclusion Act.

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