The Philippines has emerged as a prime investment destination through tax reforms that have created a favorable business environment for foreign investors, according to a report of property advisory firm Colliers. The report published on Friday, Feb. 28, cited the Corporate Recovery and Tax...
Senator Sherwin Gatchalian has called on the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) to immediately suspend a rule requiring members of cooperatives to obtain their respective tax identification numbers (TINs) before they are granted tax exemption privileges. ...
The government is offering tax deductions to private donors supporting six priority programs in this year's list of the state planning agency National Economic and Development Authority (NEDA). Earlier this month, NEDA came out with the 2025 National Priority Plan (NPP), which listed down key...
Camarines Sur 2nd district Rep. LRay Villafuerte (PPAB) Camarines Sur 2nd district Rep. LRay Villafuerte says generous tax incentives await businesses partnering with the government on the Enterprise-Based Education and Training...
Senator Juan Miguel “Migz” Zubiri lauded the signing of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act on Monday, Nov. 11, as it is expected to cut the bureaucratic red tape that has hampered the growth of the...
Senate President Francis “Chiz” Escudero on Sunday, November 10 said he expects the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act to generate new jobs domestically and attract more foreign investments in the...
The Department of Energy (DOE) is eyeing to improve the incentive regime for the upstream petroleum industry with the proposed ‘special allowance’ to be extended to operators in marginal petroleum blocks, as well as new plays and frontier acreages. In a draft DOE Circular, it has been...
The work-from-home (WFH) model is on track to become a permanent component of the Philippine business landscape as the CREATE MORE bill—officially known as the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy—nears its final...
Senate President Pro Tempore Jinggoy Ejercito Estrada on Tuesday, August 13 renewed his push for equalization in the grant of cash incentives for athletes with and without disabilities. Estrada noted that in the 2024 Paris Olympics, all the participating athletes of the Philippine...
The Department of Finance (DOF) raised the importance of expanding the electric vehicle (EV) incentive program to achieve the country's economic and environmental goals. Finance Secretary Ralph Recto said that the EV incentive program, as outlined in Executive Order No. 12, is poised to improve the...
The Department of Finance (DOF) said that all pending tax incentive applications that were previously referred to the Fiscal Incentives Review Board (FIRB) but do not meet the new investment capital threshold will be returned to the Investment Promotion Agencies (IPAs). According to the DOF, this...
The Department of Finance (DOF) has reported that the law providing tax relief for eligible companies has resulted in the creation of over 100,000 jobs for Filipinos since its implementation two years ago. Data from the DOF showed that total approved investments under the Corporate Recovery and Tax...
