(UPDATE) PRESIDENT Ferdinand Marcos Jr. on Monday signed into law Republic Act 12066, also known as Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (Create More) Law.
PRESIDENT Ferdinand Marcos Jr. on Monday signed into law Republic Act 12066, also known as Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Law.The law amends RA 11534, or the original Create Act, which was crafted to help enterprises recover from the impact of the pandemic by lowering corporate income tax rates and making the country more appealing to businesses by rationalizing fiscal incentives.
President Ferdinand Marcos Jr. holds a copy of the Create More Act which he signed on Nov. 11, 2024, at the Malacañan Palace. PPA POOL'The Philippines is open for business, and the Filipino people mean business,' he added.The law further streamlined the value-added tax refund process by limiting the documentary requirements and addressing the VAT concerns raised by export-oriented enterprises.
Reform Law Rolls Out Red Carpet For Investors
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