Marcos Jr. says pandemic-hit MSMEs must be given tax amnesty, tax holiday

FILE PHOTO: Ferdinand “Bongbong” Marcos Jr.

MANILA, Philippines — Micro, small, and medium enterprises (MSMEs) hit by the coronavirus pandemic should be given tax amnesty or tax holiday to help them recover, presidential aspirant Ferdinand “Bongbong” Marcos Jr. said Wednesday.

During the Go Negosyo Kandidatalks forum, Marcos Jr. said giving MSMEs some tax relief will help them avoid business closure and cushion the impact of the coronavirus pandemic.

“Siguro ‘pag meron din tayong ‘yung mga hindi nakapagbayad ng buwis [na negosyo] ng panahon ng lockdown, walang hanapbuhay hindi makalabas ng bahay… so bigyan na rin natin sila ng tax amnesty noong panahon na sila ay naka-lockdown lalo na ‘yung maliliit,” he said.

(If we also have businesses that were not able to settle their taxes because of the lockdown, maybe we can give them tax amnesty for that time of the lockdown, especially the smaller ones.)

“’Wag ninyo ng habulin ‘yung buwis niyan, walang ipambabayad ‘yan. So don’t even bother, dagdag pahirap lang ang ginagawa ninyo,” he added.

(Don’t go after their taxes anymore, they will not be able to pay. So don’t even bother. That’s just an additional burden for them.)

Marcos Jr. further said: “Bukod pa dun siguro, maglagay tayo ng tax holiday kapag sinasabi nga natin na kayo, mga mentee, nagsisimula pa lang ng negosyo ay siguro may konting tax holiday para hindi naman kayo masyado nahihirapan.”

(We can also provide them a tax holiday, especially for those that are just starting their business, maybe we can provide a tax holiday so they won’t be having a hard time.)

The former senator likewise proposed a review of the taxation structure in the country.

“Siguro ibahin natin ang structure ng taxation para sa mga maliliit dahil kailangan pa rin mayroon kayo… Pero wag naman ganun kalaki na masisira yung sinusubukan ninyong negosyo to help it succeed,” Marcos said.

(Maybe we could change the taxation structure for small businesses because you still have to pay but it should not be too much to the point that the business you are just trying to start will fail.)