8box Solutions Inc.


Contact Number: 09369340340
Email: sales@8box.solutions

REVENUE REGULATIONS NO. 11-2015 issued on September 29, 2015 amends Sections 2 and 7(6) of Revenue Regulations (RR) No. 7-2010, as amended by RR No. 8-2010, which implements the tax privileges of Republic Act No. 9994 (Expanded Senior Citizens Act of 2010) and prescribes the guidelines for the availment thereof. A new paragraph to be known as paragraph (n) is inserted at the end of Section 2 of RR No. 7-2010, as amended, which shall read as follows: “Section 2. Definitions.-For purposes of these Regulations, the following terms and phrases shall be defined as follows: xxx xxx xxx n. Identification Document -any document or proof of being a senior citizen which may be used for the availment of benefits and privileges under these Rules. It shall be any of the following: i. Senior Citizens’ Identification Card issued by the Office of Senior Citizens Affairs (OSCA) in the city or municipality where the elderly resides; ii. The Philippine passport of the elderly person or senior citizen concerned; and iii. Government-issued identification card (ID) which reflects on its face the name, picture, date of birth and nationality of the senior citizen which includes any of the following: 1) Digitized Social Security System ID 2) Government Service Insurance System ID 3) Professional Regulation Commission ID 4) Integrated Bar of the Philippines ID 5) Unified Multi-Purpose ID (UMID) 6) Driver’s License” Section 7(6) of RR No. 7-2010, as amended, was further amended to read as follows: “SECTION 7. Tax Treatment of the Discount Granted to Senior Citizens. — xxx xxx xxx The claim of the discount granted under the Act as an additional item of deduction from the gross income of the seller is subject to the following conditions: xxx xxx xxx 6. The business establishment giving sales discounts to qualified Senior Citizens is required to keep a separate and accurate record of sales, which shall include the name of the Senior Citizen, Identification Document, gross sales/receipts, sales discount granted, dates of transactions and invoice numbers for every sale transaction to Senior Citizen.”