I write in relation to the article entitled: “CREATE hurting us—German cargo businessman,” published by BusinessMirror on its website on October 18, 2024.
While I appreciate the effort to discuss concerns on the recent changes in tax rules, it is necessary to clarify certain points for greater accuracy of the article.
In the said article, the author, Ms. Malou Talosig-Bartolome, wrote about the issues raised by Mr. Michael Kurt Raeuber, Chairman of the Board and Group Chief Executive Officer of Royal Cargo, on the changes in taxation in the Philippines. Among the issues raised is that “the recently passed revised Corporate Recovery and Tax Incentives for Enterprises is imposing additional taxes on freight and on Filipinos working for foreign investors based in the country xxx.
As the Chairperson of the Committee on Ways and Means, I wish to clarify that that taxes on freight and on income of Filipinos working for foreign investors based in the Philippines were not amended nor touched upon in the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy otherwise known as the
CREATE MORE Bill. If at all, the CREATE MORE Bill seeks to enhance the tax incentives regime for registered business enterprises and clarify existing rules and policies on the grant and administration of fiscal incentives. We hope you can consider these points and make the necessary changes. Thank you for your attention to this matter.
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