Business groups to Congress: Pass Create quickly

More than 30 business organizations on Thursday pushed Congress to immediately pass the Corporate Recovery and Tax Incentives for Enterprises Act (Create), which seeks to lower the country's corporate income tax (CIT) rate more rapidly and rationalize fiscal incentives.

“We…reiterate our strong support for the immediate passage of Create. Create is a bold, historic economic reform, one of the largest and most game-changing in decades,” the groups said in a joint statement read during the “Recovering with Resilience: The Philippine Economic Bounce Back Plan" online forum organized by the Financial Executives of the Philippines (Finex) and the Management Association of the Philippines (MAP).