Philippines hopeful of vaccine manufacturing investments by 2022 bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Published April 11, 2021, 7:00 AM
Existing registered business enterprises (RBEs) in the Philippine Economic Zone Authority (PEZA) or other investment promotion agencies (IPAs) might find the new CREATE Law as ‘bad faith’ on the part of the government.
This was raised by PEZA Deputy Director General Tereso Panga following the signing of the CREATE Law by President Duterte, who also vetoed some line-items provided in the bicameral approved CREATE Act.
Included in the line-item vetoed by the President is the removal of the extension of availment of tax incentives by existing RBEs. The justification for this veto is that “extension of incentives for existing projects is unfair to ordinary tax payers/unincentivized enterprises and further, only new activities and projects deserve fresh incentives.”
Published April 10, 2021, 6:14 PM
The Philippine Economic Zone Authority (PEZA) is continuously generating job opportunities for Filipinos amid the pandemic through its virtual job fair with over 17,000 work opportunities available.
PEZA Director General Charito Plaza said the initiative is in line with the agency’s Development Outreach for Labor, Livelihood, and Advancement (DOLLAR) program which aims to connect job seekers to various work opportunities locally and abroad.
“Even with the recent surge of COVID cases and the resulting community quarantine, PEZA is strongly committed and unrelenting in its efforts to promote investment and employment that will benefit Filipinos despite the challenges brought about by the pandemic,” Plaza said in a statement on Thursday, April 8.
Online job fair continues amid Covid visayandailystar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from visayandailystar.com Daily Mail and Mail on Sunday newspapers.
PASAY CITY, April 8 The Philippine Economic Zone Authority has welcomed the signing of a new law Republic Act. No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, by President Rodrigo Duterte last March 26, 2021.
The CREATE Law aims to gradually lower the corporate income tax from 30% to 25% and streamline the government’s fiscal incentives for investments both covering foreign and domestic enterprises.
PEZA Director General Charito “Ching” Plaza has expressed gratitude to the President and the Congress for considering most of the concerns and suggestions from the industry associations and PEZA-registered export industries that had been expressed and submitted to the House of Representatives and the Senate since the deliberations began as TRAIN 2, to CITIRA, and now the CREATE Law.