A business group is backing the Department of Finance’s bid to pass the “Corporate Recovery and Tax Incentives for Enterprises” or the Create Act, which the government said would help businesses recover amid the coronavirus disease (Covid-19) pandemic.
The Philippine Chamber of Commerce and Industry (PCCI) has asked banks and other creditors to grant at least a one-year extension of loan maturities amid a prolonged lockdown in Metro Manila.
Micro, small and medium enterprises want the government to ease their plight through a moderation of the enhanced community quarantine, a business leader said.
While the enhanced community quarantine over the main island of Luzon will stay at least until April 30, the government should draw up plans for a post-Covid-19 scenario, according to a business sector leader.