SENATOR WANTS TAX INCENTIVES FOR EMPLOYERS WHO HIRE FRESH GRADUATES
SENATOR Nancy Binay has filed a measure granting tax incentives to employers who hire fresh graduates from provincial colleges, universities and training centers.
Senate Bill 346 or the proposed Fresh Graduates Incentives Act aims to help graduates from provincial colleges and universities to access jobs and training opportunities.
The senator said that it is the policy of the State to adopt measures to ensure the welfare and protect the interest of the youth.
Under the measure, companies and employers who will hire fresh graduates from recognized Provincial Colleges, Universities and Training Centers will be given deduction from the computation of taxable income equivalent to 10 percent of the starting gross salary.
The tax deductions shall not exceed 10 percent of the taxable income.
The company can submit a certified true copy of the fresh graduate’s diploma, certification or document issued by the educational, vocational or technical institution from which he or she graduated.