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February 23, 2021 | 8:30 pm Advertisement AAA CABINET Secretary Karlo Alexei B. Nograles said the task force seeks to “create a policy environment that encourages generation of more employment and entrepreneurship opportunities; improve employability and productivity of workers; and provide support to existing and emerging businesses.” — BW FILE PHOTO AN EXECUTIVE ORDER (EO) is being drafted to establish an inter-agency task force to address unemployment, a Palace official said. In a televised briefing Tuesday, Cabinet Secretary Karlo Alexei B. Nograles said Presiden...

BusinessWorld February 19, 2021 | 12:32 am A MEASURE that seeks to lower corporate income taxes could buoy Philippine economic recovery through investment flows, but could lower revenue collections in the coming months, according to Moody’s Investors Service. The global debt watcher said the proposed Corporate Recovery and Tax Incentives for Enterprises Act might worsen already weak state revenue, though tax incentive limits that used to be given in perpetuity would expand the tax base in the long run. “The passage of the bill will facilitate both domestic and foreig...

Published February 15, 2021, 1:10 PM The soon-to-be enacted Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) will strengthen the culture of research, development, and innovation in the country, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said that CREATE has the tool to promote a regime that rewards innovation and the creation of new knowledge while opening numerous doors of opportunities for the Philippines. Finance Secretary Carlos G. Dominguez III Dominguez said that CREATE, once enacted, will prioritize industries that make use of the ...

Sen. Pia Cayetano, who led the Senate contingent during bicameral discussions on the bill, said she was happy about finally finding common ground with the House on the bill after it was sidelined for years. - PDI MANILA (Philippine Daily Inquirrer/ANN): The Senate and the House of Representatives on Wednesday (Feb 3) ratified a key economic reform bill that would give companies a “much-needed tax break” by lowering the corporate income tax after the two chambers agreed on a consensus version. The Senate approved the final, uniform version of the proposed Corporate Recovery and Tax Incenti...

SunStar File February 03, 2021 BOTH the Senate and the House of Representatives on Wednesday, February 3, 2021, ratified the bicameral conference committee report on the proposed Corporate Recovery and Tax Incentives for Enterprises Act (Create). The final version of the bill, which amends provisions of the National Internal Revenue Code, will be forwarded to Malacañang for approval by President Rodrigo Duterte. Under the bill, corporate income tax (CIT) will be reduced outright to 25 percent from the current 30 percent. While this would reduce government revenues by an estimate...