Senate Bill No. (SBN) 699, or the People’s Fund Bill, is a proposed law which aims to give individual tax payers to allocate five (5) percent of their annual income tax where they want it to be utilized.
Senator Bam Aquino filed SBN699 on July 20, 2016.
“We want Filipinos to get involved in governance and the budget process. The People’s Fund Bill gives them the chance to do that,” Aquino said after #GiveMyTaxToCHR became trending in social networking sites as reaction to House of Representatives’ move to give Commission on Human Rights (CHR) a PHP1,000 budget for 2018.
If signed into law, the will be known as People’s Fund Act. It will create mechanisms for an individual taxpayer to allocate 5% of his/her income tax to any of the following: (1) an accredited charity or civil society organization; (2) a priority national or local government project; or (3) a legitimate political party.
“Galing sa pinaghirapan ng taumbayan ang ginagamit na pondo ng pamahalaan kaya nararapat lang natin silang konsultahin kung paano ito gagamitin,” Senator Aquino added.
“Kapag ito’y naisabatas, may kapangyarihan na ang taxpayer na piliin kung saan pupunta ang porsyento ng perang ito. Ginagawa na ito sa ibang mga bansa at panahon nang gawin ito sa Pilipinas,” he noted.
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