How to Compute Senior Citizen Discount in the Philippines | 5 Things you need to know

Senior citizens are given privileges such 20% discount, VAT exemptions and others. In this video I discussed 5 important thing you need to know about senior citizens relevant to Philippine taxation.

List of goods and services subject to 20% discount: Goods Subject to 20% Discount: https://tinyurl.com/seniorcitizendisc...

=========================
Related Video:
VAT Explained -    • Value Added Tax (VAT) in the Philippines  
Input VAT -    • Input VAT Explained: Actual, Transiti...  
Tax on cigar, cigarette, vape -    • Cigarettes and Vape Updated 2021 Exci...  

=========================
References:
RA No. 9994: https://www.officialgazette.gov.ph/20...

=================
Time Stamps:
00:00​ Intro
00:13 Who are Senior Citizens
00:28 Legal Basis
00:46​​ Discount & Exemption
01:32 Sample Case #1
02:36 Sample Case #2
03:38 Sample Case #3
04:23 Sample Case #4
04:46 Bookkeeping
05:18 Non-Compliance Penalty
05:40 Outro
=================
Hashtags:
#seniorcitizen #discount #vatexemptsale

================
Disclaimer:
This video is mainly for academic purposes and is not a substitute in doing your due diligence. For highly technical tax issues, you are advised to seek professional assistance or contact BIR for proper tax compliance.