BusinessWorld
Third of four parts
Republic Act No. 11534, also known as the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), is said to be the first-ever revenue-eroding tax reform package. The largest economic stimulus program in the country’s history, it provides major amendments to our tax and incentives laws with the goal of helping businesses move into post-pandemic recovery while encouraging foreign investments into the country. The law took effect on April 11, 2021.
The first and second parts of this four-part article discussed the passage and goals of the CREATE Act, as well as the exemption of foreign-sourced dividends, the repeal of improperly accumulated earnings tax, tax-free exchange, additional provisions to consider and provisions that were vetoed.
(PIXABAY / FILE PHOTO)
Lawmakers have found out that GB Global Exprez Inc. and GB-BEM Cigarette Company Inc., both operating inside economic zones, persisted with their manufacturing operations despite PEZA’s suspension order last February.
At the meeting of the House Ways and Means Committee Technical Working Group (TWG) chaired by Party-list Rep. Jericho Jonas “Koko” Nograles on April 20, committee members said they have received reports that the two companies remain operational producing 8389 brand cigarettes.
The TWG is working on addressing the loopholes in the system of the importation and exportation of tobacco products which, according to Nograles, are being abused by cigarettes manufacturers located in economic zones.
(Jun Sabayton/Franco Mamaril)
Gaite issued the statement after Manila resident Marikit Arellano shared on social media Monday, April 19, that police officers went to their community pantry in Pandacan and asked about their identity and affiliation.
In a now-deleted post, Arellano said they were also asked to fill up a form from the PNP-Joint Industrial Peace and Concerns Office or JIPCO, which asked about their personal details, including their Facebook account, as well as their family background.
“Para saan itong form na pinapa-fill up ng mga pulis? Bakit kailangan tanungin kung may kinabibilangang organisasyon ang mga nagtayo ng community pantry? Is this profiling of pantry organizers necessary? Saan naman nila gagamitin ang mga impormasyon na kinukuha nila? (What is the purpose of this form that policemen wanted filled up? Why the need to ask community pantry organizers if they are part of any organization? Is this profiling of pantry organizers necessary? Where will they use
Published April 20, 2021, 5:00 AM
LIMA Land, Inc., a member of the Aboitiz Group of Companies, is offering new commercial lots in Batangas with the launching of the next phase of its commercial zone’s transformation.
LIMA Central Business District is LIMA Estate’s 30-hectare commercial area, which houses various commercial components such as The Outlets at Lipa, LIMA Exchange, LIMA Park Hotel, and LIMA Transport Hub.
The new commercial lot offering will further boost the Estate’s overall economic activity and support Batangas’ recovery from the COVID-19 pandemic.
LIMA Estate is a 700-hectare Philippine Economic Zone Authority (PEZA) – registered economic zone in Lipa-Malvar, Batangas.
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