Photo Release

May 21, 2020

Recto pitches for businesses on the brink of bankruptcy: Senate President Pro-Tempore Ralph Recto, during the Senate Committee of the Whole hearing Thursday, May 21, 2020, proposes the removal of 2 percent minimum corporate income tax for businesses which are on the brink of bankruptcy due to the pandemic. Recto told Trade and Industry Secretary Ramon Lopez that micro, small and medium enterprises are the most affected by COVID-19 and are now losing. “Nalulugi ka na, magbabayad ka pa ng buwis,” Recto said. (Screen grab/Senate PRIB)

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