A BILL seeking to grant income tax incentives to businesses hiring trade school graduates from the Technical Education and Skills Development Authority (TESDA) has been filed at the House of Representatives, a proposal seen improving job opportunities for those who took up technical-vocational courses.
Filed in September by Masbate Reps. Ricardo T. Kho and Olga T. Kho, House Bill No. 10939 seeks to provide businesses hiring TESDA National Certificate II (TESDA NC II) holders with a gross income tax deduction equal to 25% of the total wages provided to qualified workers.
“Private persons or entities that employ TESDA NC-II graduates who meet the required skills or qualifications… is entitled to an additional deduction from their gross income, equivalent to 25% of the total amount paid as gross salaries and wages to their employees who are TESDA NC-II graduates,” Section 1 of the bill stated.
Providing an incentive scheme for businesses to onboard trade school graduates will improve their employability while also benefiting enterprises, according to the bill’s introductory note. — Kenneth Christiane L. Basilio