Recto seeks tax relief for health, business as COVID19 crisis rages
MANILA - Senate President Pro Tempore Ralph Recto said Friday he was seeking tax exemptions for frontliners and "critically-impacted" businesses to help them recover from the COVID-19 pandemic.
Travel, tourism and trade that were hurt by the pandemic should not be required to pay taxes until 2022, according to the bill. Senate President Pro Tempore Ralph Recto files the Stimulus Package, Aid and Response to Coronavirus Act that seeks to exempt hospitals, health workers, MSMEs from paying personal & corporate income taxes for about a year to help them cope with #COVID19 crisis pic.twitter.com/ZljgJMIcNQThe bill also proposes the temporary removal of taxes and other fees on coronavirus-related donations, and on the sale and importation of drugs, equipment, and other supplies for COVID-19.
Interest-free loans shall be offered to agri-fishery, tourism, export and import industries, and other non-essential businesses that were affected by the Luzon lockdown, he said.
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