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The House of Representatives will prioritize the passage of measures aimed at boosting the country’s economic recovery from the impact of the coronavirus disease 2019 (COVID-19). Deputy Speaker Mikee Romero said their focus is on passing the rest of the Comprehensive Tax Reform Program as the third regular session of the 18th Congress formally opened […]
Finance Secretary Carlos Dominguez III and Trade and Industry Secretary Ramon Lopez have signed the Implementing Rules and Regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, more than two weeks ahead of the 10 July 2021 deadline set under this law. Micro, small, and medium enterprises (MSMEs) will be the […]
As more senators sign as co-sponsor of the bill explicitly declaring that private schools are exempt from the 25 % corporate income tax, its author, Senator Sonny Angara, predicts its approval by an overwhelming majority in the Senate. “How can you not support a measure that is fair and just, and corrects an injustice to […]
The Department of Trade and Industry (DTI) and the Board of Investments (BOI) hailed the signing of the landmark Republic Act. No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act by President Rodrigo Duterte after it passed both Houses of Congress recently. “We thank President Rodrigo Roa Duterte and the Congress […]
Camarines Sur Rep. LRay Villafuerte welcomed the signing into law by President Duterte of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act as this measure will help keep businesses afloat, most especially the micro, small and medium enterprises (MSMEs), and allow them to retain their workers or even hire new ones while the country […]
Fresh off a 25-month high in January, the Philippine manufacturing sector output remained steady in February, according to a survey conducted by IHS Markit. The Purchasing Manager’s Index (PMI) for the country sustained its figure at 52.5, still above the benchmark of 50 that distinguishes expansion from contraction. IHS Markit said operations inched up […]
Senator Joel Villanueva lauded Congress’ ratification of the proposed Corporate Recovery and Tax Incentives for Enterprises (CREATE) law that would now cover training incentives to cushion the impact of automation in employed and upskill workers. At the same time, Villanueva challenged the Department of Finance (DoF) and the Foreign Investment Review Board (FIRB) to fulfill […]
With seven out of 10 Filipino workers at risk of losing their jobs to automation, upskilling and retooling of workers should be one of the key considerations under the proposed Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, according to Senator Joel Villanueva. Underscoring the inadequacy of job-related training in the country for workers, […]
The proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) measure should attract big-ticket investments in agriculture and agro-industry, said Senator Kiko Pangilinan. “This new CREATE measure should be able to support and promote more investments in farming, fishing, and other related industries. At napakaraming opportunity dito,” Pangilinan said, noting that only the agriculture […]