The Philippine Chamber of Commerce and Industry, the country’s largest business organization, is calling on government to focus on economic recovery and building resilience against natural and man-made disasters measures rather than the proposed amendments on the Constitution. Known as the...
The Philippine electronics industry is projecting a 7 percent rebound in exports this year back to the 2019 level at $43.3 billion on strong demand following shortages of automotive electronics for some of the world’s car giants and the prospects of more favorable incentives provision under the...
The National Economic and Development Authority (NEDA) said the favorable trade performance last November signaled that the country is well-positioned to take advantage of the improvements in external demand. In a statement, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said that...
Firms on wait-and-see mode Finance Secretary Carlos G. Dominguez III Investment and expansion plans in the country are currently treading water as they await the delayed approval of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, the Duterte administration’s chief...
The Department of Trade and Industry (DTI) expressed hopes that the final Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill will be close to the Corporate Income Tax and Incentives Reform Act (CITIRA) House version that provided a good framework of time-bound, performance-based,...
The Philippines and Japan have reaffirmed their commitment to further build on their strong economic partnership, which includes plans to expand Japanese investments in the country following favorable developments on a tax reform measure. Newly designated Japan Ambassador to the Philippines...
Importation of critical medical medicines, including vaccines, are exempted from value added tax under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act starting January 1, 2021, according to Trade and Industry Secretary Ramon M. Lopez. Lopez said at the Health and the Economic...
The Philippine Chamber of Commerce and Industry (PCCI) has strongly pushed to fast track the enactment of the Corporate Recovery and Tax Incentives Reform or CREATE bill before yearend. “After years of lobbying, we are hopeful that the measure will be enacted into law before the year ends,”...
Despite the expected Malacanang approval of the CREATE bill following Senate passage, the Management Association of the Philippines (MAP) said there is still so much to do to attract foreign direct investments. “We still have a lot of work moving forward. The restrictive provisions in our...
Foreign business groups target a more bullish $50 billion foreign direct investment inflows to Philippines and creation of 3 million jobs over the next ten years with new capital flows into IT-business process management, manufacturing, infrastructure, tourism and mining sectors, encouraged by the...
The Department of Finance (DOF) is hopeful that Congress could transmit to President Rodrigo R. Duterte its unified version of the corporate recovery and tax incentives for enterprises (CREATE) law within December. Finance Secretary Carlos G. Dominguez III said the immediate transmittal of the...
The National Economic and Development Authority (NEDA) lauded the passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill in Senate that aims to help the country recover from the global crisis. In a statement, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua...
