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Filipino University Fees May Soon Be Tax Deductible
Zone(s): Philippines ¦ Sector(s): Education, Taxation
[24 June 2014, Tax-News.com] By Mary Swire, Tax-News.com, Hong Kong: The Chairman of the Senate Ways and Means Committee, Juan Edgardo Angara, has filed a bill to cut the high cost of tertiary education in the Philippines by allowing higher education institution fees and related expenses to be deducted against an individual’s income tax liability.
“Access to tertiary education remains problematic and elusive especially to the poor and underprivileged Filipinos,” he explained. “This bill seeks to appease this problem by making tuition fees and allied expenses tax deductible from the gross income of the taxpayer.”