(UPDATE) House adopts Senate version of tax exemption bill
By Maila Ager
INQUIRER.net
First Posted 18:31:00 05/28/2008
Filed Under: State Budget & Taxes, Congress, Laws
MANILA, Philippines -- The House of Representatives on Wednesday adopted the Senate version of a bill exempting families with annual earnings of P200,000 and less from paying an income tax.
This means that there is no more need for both chambers of Congress to convene the bicameral conference committee or to separately ratify the measure before sending it to President Gloria Macapagal-Arroyo for signing into law.
Senator Francis Escudero, chairman of the Senate ways and means committee, commended the lower chamber for acting swiftly on the bill, which was certified urgent by Malacañang.
“Without going through a bicameral conference, this makes the proposed measure as the ‘enrolled bill’,” a statement from Escudero said.
An enrolled bill is the final version of a proposed measure adopted by both Houses.
Senior Deputy Majority Leader Neptali Gonzales III said the measure was adopted through nominal voting following a motion from House ways and means committee chairman, Representative Exequiel Javier of Antique.
“There is no need to ratify the bills,” Gonzales said. “The House will just communicate it [bill] to the Senate and Senate President [Manuel] Villar will sign it” and then return the measure to the lower chamber for signing by Speaker Prospero Nograles.
The bill will then be transmitted to Arroyo for enactment into law.
Gonzales explained that the two chambers sit in a bicameral conference only when there are disagreeing provisions that need to be reconciled in their respective versions of a proposed measure.
In this instance, the only difference between the House and Senate versions is that the lower chamber’s version limited the 40-percent optional standard deduction to individual income tax payers only while Senate version includes corporations.
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