ASIDE from amending provisions in the National Internal Revenue Code ('Tax Code') on value-added tax zero rating and incentives, Republic Act (RA) 12066 (Create More) added incentives to registered business enterprises (RBEs).
ASIDE from amending provisions in the National Internal Revenue Code on value-added tax zero rating and incentives, Republic Act 12066 added incentives to registered business enterprises . Create More empowered Investment Promotion Agencies to grant incentives directly to investors, provided their capital is at least P15 billion. IPAs will no longer operate under a delegated authority from the Fiscal Incentives and Review Board .
Thus, they can enjoy ITH for a period ranging from four to seven years, followed by 10 years of EDR. Alternatively, such domestic enterprises can enjoy 14 to 17 years of EDR, depending on their location and industry, as specified in the SIPP.Longer periods are available for enterprises registered with the FIRB.Cyber-security, artificial intelligence, and data center facilities are now considered Tier III priority activities.
Incentives Of The Create More Law
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