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The regions and municipalities have a budget of SGD 12 billion for emergency assistance.

According to Produce, the rains will cause a loss of SGD 1,195 million. | Fountain: Andean

regional governments and municipalities areas affected by the rains have sufficient resources to deal with the consequences of the emergency, the Ministry of Economy and Finance (MEF) confirmed.

“There is no shortage of resources to serve emergency”, – assured the Minister of Economy Alex Contreras.

The MEF indicates that 909 districts are currently in an emergency due to rainfall, totaling S$12,300 million to deal with this situation.

Regional governments have SGD 4,329 million, while municipalities They have S/7.967 million.

The Minister indicated that this is the amount of total resources that subnational entities can count on when making changes to the budget that have already been approved.

That is, if a region ends with all its budget the Vulnerability Reduction and Attention to Emergencies and Disasters program will be allowed to use resources allocated to another category.

In emergency care resources alone, regional governments have SGD 479 million and have already executed SGD 17 million, while local governments have SGD 473 million, of which they have already spent SGD 36 million.

Similarly, Contreras indicated that they had already been trained Piura, Tumbes, Lambaeque and parts of Lima, and in the following days they will provide technical assistance to Ancash and La Libertad.

“There are resources, we are training municipalities so that they can use these resources. It is also important to note that in emergencies, there are fast mechanisms in place so that municipalities can execute the budget very effectively, which is being activated and we are training it,” he added.

What measures will they take?

The IEF also said that the tax measures were activated in response to this rainy emergency.

The first established measure was the deferment of the fulfillment of tax obligations for taxpayers in the areas declared in emergencywith which the declaration and payment of monthly tax liabilities is extended by three months, and the annual sworn income tax return is postponed.

It is also allowed to defer the payment of installments and release funds from deductions in emergency zones.

Another issue is the flexibility Income tax and the General Sales Tax to facilitate donations made by companies in the event of a natural disaster.

Source: RPP

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