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Philippines To Complete Tax Incentives Review By Early May


Philippines To Complete Tax Incentives Review By Early May
Philippines To Complete Tax Incentives Review By Early May
by Mary Swire, Tax-News.com, Hong Kong
26 April 2021
The Philippines Department of Finance has announced that the Fiscal Incentives Review Board (FIRB) will complete the implementing rules and regulations for the corporate Recovery and Tax Incentives for Enterprises (CREATE) Act by the third week of May.
The rules and regulations will contain details of tax incentives available for investors. They will also set out the remit of the FIRB, which will be responsible for tax incentives oversight.
Under CREATE, the Secretaries of the Department of Finance (DOF) and the Department of Trade and Industry Philippines are given 90 days from the entry into effect of the law (that is, by July 11) to promulgate the rules and regulations. ....

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