In late January this year, BIR issued Revenue Regulation 1-2023 granting VAT exemption and 10% discount on solo parents’ purchase of baby’s milk, food supplements, diapers, medicines, and other medical supplements for his/her child/children’s consumption aged six (6) years and under.
If you are a qualified solo parent who has been issued with a Solo Parent ID by the local City or Municipal Social Welfare and Development Office, how much discount are you actually getting?
To illustrate, let’s say you are buying a baby formula sold for P224.00 at a VAT-registered mall or drugstore. Computation of net discounted price to a Solo Parent shall be as follows:
Again, how much discount are you getting as a qualified solo parent? The answer is P44.00 (P24.00 VAT + P20.00 discount) or 19.6% based on the original selling price!
So, solo parents out there, what are you waiting for? Get your Solo Parent ID now. How? Follow this link.