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The Philippines offers tax breaks for makers of face masks and medicines

Health workers collect blood samples inside a jeep at a free Covid-19 testing facility in Manila in July. (AP photo)

Manila: The Philippine government will provide tax breaks to manufacturers of medicines, medical equipment, protective equipment such as face masks and operators of services that have become essential during the coronavirus pandemic.

Companies that make disinfectants, disinfectants and cleaning materials, as well as companies that have reallocated factories to produce goods to help fight the virus, may be exempt from paying income tax for up to six years, according to the latest investment priority plan signed Wednesday by Executive Secretary Salvador Medialedia.

Hospitals, quarantine facilities, crematoriums, waste treatment and disposal, virus testing centers and laboratories are included in the list of businesses that qualify for tax exemptions.

According to the plan, investing in activities that will create jobs away from crowded cities may qualify for financial concessions.

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