With CREATE, FIST laws The Bangko Sentral ng Pilipinas (BSP) expects the economy to post positive growth in the second quarter due to base effects, but whether or not this will be sustained for the rest of the year will depend on the implementation of recently approved laws, such as the...
Implementation of the Strategic Investment Priorities Plan (SIPP), a list of priority areas that will be entitled to tax incentives under the new Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law, is expected to take effect in January 2022. Trade and Industry Undersecretary...
Shenzhen Grandsun Electronics Co. Ltd., a Chinese sub contractor of a European company, is planning to expand operation in the country in one of the economic zones in Batangas City. This was revealed by Trade and Industry Secretary Ceferino S. Rodolfo at the recent virtual meeting with members...
The newly reconstituted Fiscal Incentives Review Board (FIRB) aims to complete the implementing rules and regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law ahead of the deadline. Following the first meeting of the FIRB board last April 14, the body set May...
Foreign business chambers and exporters groups have urged for the passage of other economic bills pending in Congress to complete the new Republic Act 11534, the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which they said is one of the most important fiscal bills enacted in...
Economic activities listed under the 2020 Investment Priorities Plan (IPP) will serve as the initial projects that will qualify for incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act (CREATE) Law, Trade and Industry Secretary Ramon M. Lopez said. Lopez said that...
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...
The local stock market is seen to continue falling as COVID-19 cases in the Philippines remain on the uptrend while investors see the CREATE Law as not enough to help listed firms hurdle their pandemic-related problems. “Next week, we still see a downward bias for the local market as our COVID-19...
The Board of Investments (BOI), the Philippines’ premier investment promotion agency, said more projects in the pipeline such as motorcycle engine assembly project, data centers and IT infrastructure network, advanced metal/plastic packaging manufacturing facility, modern textile assembly are...
Two economic managers have lauded the enactment of the government’s second tax reform program that will unleash one of the country’s largest stimulus measures, but a group also raised that the newly-signed law has succumbed to the “powerful lobby.” Finance Secretary Carlos G. Dominguez III...
Duterte clips FIRB powers, oil refinery gets perks By Bernie Cahiles-Magkilat and Chino S. Leyco Despite misgivings, the business sector lauded President Duterte for signing the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), a game-changer law that is expected to support the...
A provision in the newly-signed Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law or Republic Act 11534 will save the 180,000 barrels per stream day refinery of Petron Corporation from feared shutdown, because the new law will correct the “tax enforcement inequities” earlier...
