The Fiscal Incentives Review Board (FIRB) is aiming to complete the implementing rules and regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises Act (Create) Act by the third week of May, or about two months ahead of the 90-day deadline set under the law, according to the Department of Finance (DoF).
In a statement on Sunday, the DoF said the IRR will contain details on the new menu of tax perks awaiting investors, as well as the expanded functions of the FIRB as overseer of the grant of investment incentives.
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