Tag: #CREATE Act
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Selling PH to foreign investors easier now — Pascual
Trade and Industry Secretary Alfredo E. Pascual said that selling the Philippines is easier now given the enactment of necessary reforms needed to attract foreign investors into the country to support the goal of shifting from a consumer-led economy to investment-led development.
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Chiz Escudero urges next Congress to enact a law allowing a 5-year tax payment extension for MSMEs
To expedite the country’s economic recovery from a two-year Covid-19 pandemic, senatorial candidate Sorsogon Governor Francis “Chiz” Escudero said the government should consider giving micro, small and medium enterprises (MSMEs) more time to pay their taxes.
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Senate OKs bill granting private schools 1% preferential tax relief
The Senate has approved on third and final reading the measure that seeks to clarify that all private schools –both non-profit and for profit—are entitled to the one percent preferential tax rate under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law.
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Pia Cayetano vows swift passage of bill correcting tax rates of private schools
Senator Pia Cayetano on Tuesday, August 3 vowed to expedite the passage of the bill that seeks to clarify the controversy regarding the preferential tax rates of private schools.
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House panel OKs bill on private school tax
The House Ways and Means Committee on Monday, August 2, approved the draft measure that aims to define the tax rates for propriety educational institutions (PEIs) and allow them to avail of preferential rates on taxable income.
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Private schools appeal for passage of laws to rescind 150% tax hike
The Coordinating Council of Private Educational Associations (COCOPEA), which counts over 2,500 private educational institutions as members, called on Congress to immediately support the enactment of two bills to permanently rescind the imposition of 150-percent tax hike on private schools.
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Ambassador Laurel urges Japanese businessmen to invest in PH
The “Make It Happen in the Philippines” campaign and the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act will help foreign investors expand their markets when they invest in the country, Philippine Ambassador to Japan Jose C. Laurel V told Japanese businessmen.
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Foreign chambers, exporters urge passage of bills to support CREATE
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 the Philippines in the last three decades.
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2020 IPP projects to qualify for CREATE
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.
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BOI expects more projects to materialize with signing of CREATE Act
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 expected to materialize with the signing into law the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
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CREATE Act to relax taxation scheme for oil refiners
The Congress-ratified Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act will relax the ‘tax regime’ to be enforced for operators of oil refining facilities in the country.
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CREATE seen to generate P200 B new investments, 2 million jobs
The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act can bring in over P200 billion in new investments and generate as much as 2 million additional jobs, according to Trade and Industry Secretary Ramon M. Lopez.