Latest news with #AndrewJulianRomualdez
GMA Network
09-07-2025
- Business
- GMA Network
Bill seeking to amend Bank Secrecy Law filed in House
Leyte First District Representative Martin Romualdez and Tingog Party-list Representatives Andrew Julian Romualdez and Jude Acidre have filed a bill seeking to amend the Bank Secrecy Law. Under the proposed bill, the Bangko Sentral ng Pilipinas will be allowed to examine bank deposits under strict conditions where there is reasonable suspicion of unlawful activity. 'In its current form, the law is being used to shield illegal acts such as money laundering, tax evasion, and corruption. That needs to change,' Romualdez said. Senator Francis 'Chiz' Escudero has also filed a bill mandating government officials and employees to execute and submit a written permission to examine, inquire, or look into all their deposits and investments, thereby waiving the Bank Secrecy Law. —KG, GMA Integrated News
GMA Network
04-07-2025
- Business
- GMA Network
House bill eyes senior, PWD discounts on top of 'promo offers'
A bill granting 20% discount and 12% Value Added Tax (VAT) exemption to senior citizens and persons with disabilities on top of any "promotional offer" has been filed at the House of Representatives. The proposed measure provides that 'the discount granted to senior citizens and persons with disabilities, including the 20% discount and exemption from the value-added tax (VAT) on goods and services, or the special discount on purchase of basic necessities and prime commodities, will be in addition to any prevailing promotional offers or discounts extended by business establishments, if any, has been provided, but in no way that it will require presentation of booklets in the procurement of goods.' Further, the bill states that a promotion or discount offered by a business establishment to the general public will not be considered in compliance with Section 4 of the Senior Citizens Act as amended and Section 32 of Magna Carta for Disabled Persons as amended. House Bill 16 was filed by 19th Congress House Speaker Martin Romualdez, who was reelected as Leyte Representative in the last elections. Tingog party-list Reps. Andrew Julian Romualdez and Jude Acidre co-authored the bill. 'This bill aims to preserve the preferential treatment accorded to senior citizens and persons with disabilities by mandating the State to adopt an integrated approach on how to make essential programs and other social services available to them in an attainable and convenient manner,' said Romualdez. 'This is in line with the state policy of promoting a just and dynamic social order that shall ensure the nation's prosperity and free its people from poverty,' the authors added. A similar bill covering promos on discounts for purchases made by senior citizens and PWDs was filed in the 19th Congress by then Reps. Joey Salceda of Albay, Rodolfo "Ompong" Ordanes of Senior Citizens party-list, and Alfelito "Alfel" Bascug of Agusan del Sur. This bill was approved by the House on third and final reading in May 2024, but the Senate did not pass a similar measure. The First Regular Session of the 20th Congress opens on July 28. —VAL, GMA Integrated News
