DoF lauds signing of Create

Finance Secretary Carlos Dominguez 3rd welcomed the enactment the Corporate Recovery and Tax Incentives for Enterprises (Create) Act, and urged lawmakers to pass the remaining packages of the government’s comprehensive tax reform program (CTRP).

“The Create Law will right away benefit MSMEs (micro, small and medium enterprises) by way of lower CIT (corporate income tax) rates and other tax relief measures. This culmination of years-long intense discussions on the rationalization of tax incentives for businesses spells finis to the prolonged investor uncertainty over the final shape of this corporate taxation reform and signals to the rest of the world that the Philippines is back in the game to attract investments, create jobs and achieve inclusive growth,” Dominguez said in a statement over the weekend.