Written By CHINO S. LEYCO
April 7, 2012, 10:52pm
MANILA, Philippines — In a bid to bolster the country's
microenterprising program, a lawmaker has filed a bill introducing a
lower tax of only 2 percent on microenterprise development institutions
engaged in activities that directly benefit the poor.
Senate Bill 3162 also known as the "Microenterprise Development
Institutions Act of 2011" recognizes the role of microenterprise
development (microdev) institutions in boosting the financial capacity
of millions of poor families with its income-and-employment opportunities.
"We should create a viable environment to advance microenterprise
development and address the constraints that hamper their growth, among
which is the lack of access to affordable credit and business
development opportunities," Senator Franklin M. Drilon said.
"Our proposed measure seeks to shore up government's poverty eradication
programs by partnering with qualified microdevs and mandating them to
implement microenterprise development strategy which seeks to empower
the poor," he added.
The bill mandates that these institutions should craft pro-poor programs
and services such as providing them access to reasonable and affordable
credit and related services including microfinance, microinsurance,
health care and microhousing, and as well as organizing training to
business development, Drilon said.
In recognizing its contribution, microdevs will pay a tax of only two
percent of their gross income in lieu of all national and local taxes to
be remitted to the national government.
The tax proceeds will go to the People's Development Trust Fund
established under Republic Act No. 8425 otherwise known as the "Social
Reform and Poverty Alleviation Act", the bill said.
An already established mircodev should have at least PhP20 million net
worth and at least PhP10 million for newly-organized, the lawmaker noted.
The bill also creates an accrediting body to be chaired by the National
Anti-Poverty Commission (NAPC) tasked to identify and recognize
micro-development institutions and to monitor their activities pursuant
to the provisions of the act.
Among its members are the Departments of Finance, Trade and Industry,
the Central Bank, the Security and Exchange Commission, and the
Microfinance Council of the Philippines.
Carlos Ani
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CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
Skype name: carlosaniph
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