Tax perks eyed for hiring fresh grads
A MEASURE granting tax incentives for employers hiring fresh graduates has been filed in the Senate, in a bid to ease unemployment for newly graduated Filipinos.
Senate Bill No. 1738, filed by Senator Joseph Victor G. Ejercito, proposes to incentivize the hiring of graduates from provincial colleges, universities, and training centers.
The measure seeks to impose a 10% deduction from the taxable income of an employer based on the starting gross salary of a hired fresh graduate, provided that the tax deduction does not exceed 10% of the employer’s taxable income.
To qualify, employers must present official proof of the graduate’s credentials, such as a certified true copy of a diploma or certification issued by the educational, vocational, or technical institution.
“This proposed measure seeks to resolve the imbalances in opportunities by granting tax incentives to employers who hire fresh graduates from provincial colleges, universities, and training centers,” Mr. Ejercito said in the bill’s explanatory note.
The bill defines fresh graduates as those who are not gainfully employed and have just graduated from a tertiary educational institution accredited by the Commission on Higher Education.
It also covers Filipino citizens, not gainfully employed and has just finished a vocational course from school and training centers accredited by the Technical Education and Skills Development Authority.
The senator added that the bill also seeks to provide better opportunities for graduates from the provinces, which he says are often overlooked by employers. — Adrian H. Halili
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