THE NEGROS CHRONICLE  

The Negros Chronicle is a weekly publication published in Negros Oriental province, Philippines, vigilantly featuring the latest news updates around Dumaguete City and Negros Oriental since 1973.
 
 
  Covenant: honored, or breached? Candidates from all parties and groups converged at the Freedom park to sign a covenant that they will help hold clean and honest elections. Even the Hebrews honored their covenant with God in the breach. How much more most of our candidates today!  
 
 
  MARCH 06, 2016 EDITION  
   
   

 
      Seniors 20% discount tax deductible: BIR    


Here is good news from the BIR to all senior citizens and all duly accredited drug stores and boticas of good standing. All the senior citizens mandated 20% discount regardless of whether it is for medicine, transportation tickets or food and all its entitlements are allowed as tax deductible from the gross income of the service provider. This means that all stores who give 20% discount to senior citizens, may use such discount as deductible from the sellers gross income as legitimate expense.

This was clarified by BIR rvenue district officer Imelda Cebuano who cited the provisions of BIR Revenue Regulation No. 7-2010 particularly section 7 which provides the following:

SEC. 7. Tax Treatment of the Discount Granted to Senior Citizens. – All establishments supplying any of the goods and services referred to in Section 4 and Section 5 of these Regulations, may claim the discounts granted as a tax deduction based on the cost of the goods sold or services rendered to Senior Citizens. By way of example, if a VAT-registered drug store sells ten (10) pieces of Allopurinol to a Senior Citizen at an undiscounted selling price of P5.00 per piece, the cost of the discount is computed as follows: Selling Price (VAT-exempt) of 10 pcs. at P5.00/pc. ......P50.00 Less: 20% Discount .......10.00.......Amount Payablebythe Senior Citizen P40.00.

The selling price to be charged by the seller must be net of VAT because the sale to Senior Citizens is exempt from VAT. The cost of the discount in the above illustration is P10.00...
 
   
     
 
       
  FRONT PAGE   TOP OF THE WEEK
   
 
   
   
   
     


   
 
   


   
NEWS NOTES  
   


When one becomes president, the test of his professionalism and statesmanship and magnanimity is to forget partisan and family politics because he is now the President of ALL—not just his party, his family and friends but of all good and bad Filipinos.

The apparent deliberate display of a well-publicized hero’s burial for a very old president who died ages past and the refusal of the present leadership to bury an earlier president both in the Libingan Ng Mga Bayani is a display of un-statesmanship and political immaturity. We do not want to elaborate, after all this is now his last two months in office. His bad memory would be, that he was the president of many, and the non-president of some others. He displayed partiality in the fight against corruption. He was not the president of all. Sorry. We hope that the next one will become the President of ALL regardless lf creed and color.

PACMAN’s NECESSARY PUBLICITY about his forthcoming historic LAST FIGHT is legitimate news, and has nothing to do with his senatorial candidacy. This congressman Bello who complained about undue advantage by the Pacman due to this fight is not speaking from the ground. What about the movies of Fernando Poe which is shown all over the year round, is this giving his daughter undue publicity? So both should be disqualified if we follow the poor analogy of Bello.— Poor Bello, poor loser.

FINALLY, BONGBONG’s candidacy as vice president is not a continuation of the Marcos dictatorship. His son’s intellect is not even an inch closer to the brilliance of the father. We are sure he is sad to be associated with his father inevitably. But can children choose their fathers? A simple jealous and stupid accusation by association.
 
   
   


  MORE NEWS  
 


   
EDITORIAL  
   


Even the Hebrews, God’s chosen people did not follow their covenant with the Supreme God. Once they said yes to God, but later , many worshiped Baal.

How much more our 21st century candidates!

Last Thursday, close to half of the 4000 local candidates from the entire province of Negros Oriental, from the congressmen, governor down to the last councilor, they showed up at the Freedom Park. This was the historic converges of EDSA-1 People Power gathering in 1986 fronting the capitol.

It was was in this place, where the Diocesan Electoral Board asked all candidates to pray with them in unison for clean elections. Many responded including thousands of voters.

There they pledged before God and men that they as election stakeholders , will conduct themselves honestly, faithfully, and diligently, as what is expected of them as candidates.

We doff our hats to the Diocesan Electoral Board for being able to convene men and women who could yet be the closest of friends on one hand, or bitterest among enemies, on the other.
 
   
   


         
FAITH  

God is in control of
all things. Hope springs
eternal! Praise God!

 
   


   
 
   



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