THE Philippine Chamber of Commerce and Industry (PCCI) urges the government to providing a tax break for Micro, Small and Medium Enterprises (MSMEs) who will be most affected by this new hard lockdown.
“A tax break and a grace period for at least three years will be one incentives that can help businesses during this phase of the lockdown,” said Edgardo Lacson, PCCI acting president.
He also pointed out that an estimated 100,000 to 400,000 jobs will be lost this year.
Earlier, National Economic and Development Authority (NEDA) Secretary Karl Chua said the economy stands to lose about P105 billion for each week of the Enhanced Community Quarantine (ECQ) since the National Capital Region (NCR) is the country’s center of economic activity.
The region will be under the strictest quarantine classification status starting tomorrow, Aug. 6 up to 20.
In his interview, Lacson also said he will request the Department of Labor and Employment (DOLE) to slow down bit on the joint inspection of enterprises so as not to disturb the operation of MSMEs while under the lockdown.
Businesses during this time are barely surviving from this situation and is among the most affected sectors so best for it to get support from the government. More people stand to lose their earnings throughout this lockdown, especially those who work in malls, restaurants, coffee shops.
Last year’s effect will be the same as this year’s and will perhaps even get worse, according to Lacson.