Govt extends COVID-19 tax incentives as cases soar

The Finance Ministry has extended several pandemic-related tax incentives until the end of this year, as the government seeks to buttress the economic recovery. The move covers incentives to alleviate the COVID-19 impact on businesses, namely an exemption of income tax on imports for 72 industries, as well as reduced income tax for 157 industries, including construction services. It also includes tax incentives for the health sector based on a separate regulation, namely waived value added tax (VAT) on goods used in the COVID-19 response, an exemption of income tax on imports and an exemption of personal income tax for healthcare workers.