How To Compute 20% Discount For Senior Citizens In The Philippines

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In the Philippines, senior citizens are entitled to 20% discount because of Republic Act 9994 or the Expanded Senior Citizen Act of 2010. This means that senior citizens get to enjoy discounts whenever they dine in a restaurant, ride public transportation, avail of medical services, and many others.

So how do senior citizens compute the exact amount they are required to pay? Here are some reminders!

Formula for your 20% discount:

First and foremost, senior citizens should keep in mind that they are exempted from paying  Value-Added Tax (VAT) so that should be automatically subtracted from the original amount.

So according to a computation showed by OFWMoney blog, this means that:

“If the selling price is ₱800.00 and the VAT Rate is 12%, then it would be ₱800.00 / 1.12 = ₱713.01”

So the formula for deducting the senior citizen discount is = VAT Exempt Sale x 20%.

Or as in the above-mentioned example: ₱713.01 x 0.20 = ₱142.60

To simply sum it up, this means that a senior citizen will only have to pay ₱570.41 since that is the total you will get from ₱713.01 – ₱142.60.

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Requirements for a Senior Citizen ID Card

In most instances, senior citizens are required to submit their senior citizen ID card before they get to avail of the 20% discounts.

To be eligible for a senior citizen ID card, an individual should be:

  • A legitimate Filipino citizen
  • Already in the senior citizen age – 60 years old or older
  • A resident in the city for at least 6 months

Once a person falls into those requirements, then he or she will have to submit the following:

  • Duly accomplished Application Form
  • 1″ x 1″ ID picture

Along with that, photocopies of any of these documents are also required:

  • Voter’s ID
  • Driver’s License
  • NBI Clearance
  • Police Clearance
  • Old Residence Certificate
  • Postal ID

SUGGESTED POST: BENEFITS FOR SENIOR CITIZENS IN THE PHILIPPINES

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