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NorMin TF for COVID- anticipates quarantine extension until May 31

March 14, 2021 Uncategorized

CAGAYAN DE ORO CITY, May 18 – The national directive lifting the Northern Mindanao General Community Quarantine status highlighted the NorMin Task Force (NMTF) for COVID-19 video conference on May 13.

Following the National Inter-Agency Task Force Resolution No. 35 issued on May 11 2020, all cities and municipalities in the region are classified as low risk, thus taking it out of community quarantine.

NMTF members discussed drafting an appeal to retain the General Community Status until May 31,2020 amid uncertainties in COVID-19 cases. The regional task force awaits guidelines set by the National Inter-Agency Task Force for the Management of Emerging Infectious Diseases, which then pronounced modifying community quarantine in low-risk areas.

The Department of Health Center for Health Development – Northern Mindanao presented specific actions per stage of pandemic that will serve as guides to local government units. The agency further reported that the region is in the green area, or safe zone in terms of confirmed cases and critical care utilization.

Relaying interventions to protect economic interest, Regional Director  Mylah Faye Aurora B. Cariño of the National Econmic and Development Authority (NEDA)-10  who heads the economy task grouop, cited the issue of businesses with pandemic-related revenue losses.

“It was inevitable that businesses suffered income losses during quarantine period. Our Task Group recommendation is to send a request to the Department of Finance and the Bureau of Internal Revenue to review the possibility of extending net operating loss carry-over period from the current three consecutive taxable years following year of loss to five years after year of loss,” said Director Cariño.

The agency head specified Section 34-D.3 of the National Internal Revenue Code of the Philippines (Republic Act 8424 otherwise known as “Tax Reform Act of 1997“) providing that “the net operating loss of the business or enterprise for any taxable year immediately preceding the current taxable year, which had not been previously offset as deduction from gross income shall be carried over as a deduction from gross income for the next three (3) consecutive taxable years immediately following the year of such loss:”

Director Cariño also relayed developments to the Rehabilitation and Recovery Plan (RRP) formulation, which NEDA-X spearheads.

The six sub-committees had already drafted portions of the plan and will present the initially identified strategies, corresponding Programs, Projects and Activities, and legislative agenda during the joint regional consultation of the first RRP draft last May 14. (NEDA10)

source https://pia.gov.ph/news/articles/1042117

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