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Create law in the calendar year 2020 FLOYD PAGUIO APRIL is the busiest month for most accountants, if not all, as the deadline for filing of the annual income tax return (AITR) of registered entities falls on or before the 15th day of the 4th month following the close of the taxpayer’s taxable year (April 15) for entities reporting on a calendar year (December 31). Adding to the heavy workload of accountants are certain recent critical developments affecting the completion of financial statements and audit such as the implementation of a stricter community quarantine status, the nonextension of the April 15 deadline and the enactment of Republic Act 11534 (Create Law). ....
Private sector groups reiterate call for immediate passage into law of CREATE bill By TED CORDERO, GMA News Published January 15, 2021 1:10pm Fifty-one of the country’s largest private sector and business groups on Friday called anew for the immediate passage into law of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill. “We humbly request the Senate and the House of Representatives to move quickly and decisively to push CREATE forward and ensure its immediate enactment,” the groups said in a statement. “We join the multisectoral call for the passage of this important legislative measure with urgency. After three years of deliberation, every day of delay comes at the risk of losing more jobs and hemorrhaging more investments,” the groups added. ....