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18 maj 2021 · After more than two decades of deliberations on several versions filed in the Congress, the Philippine President finally signed into law Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (“CREATE”) Act on 26 March 2021, albeit vetoing certain provisions.
30 mar 2021 · This Tax Alert is issued to inform all concerned on the significant provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act or Republic Act (RA) No. 11534 as approved by President Rodrigo Duterte. This summary is based on our interpretation of the provisions of the law.
(c) Provide support to business in their recovery from unforeseen events such as an outbreak of communicable diseases or a global pandemic, and strengthen the nation's capability for similar circumstances in the future; and.
IMPLEMENTING RULES AND REGULATIONS OF TITLE XIII OF REPUBLIC ACT NO. 8424 OTHERWISE KNOWN AS THE "NATIONAL INTERNAL REVENUE CODE OF 1997", AS AMENDED BY REPUBLIC ACT NO. 11534 OR THE "CORPORATE RECOVERY AND TAX INCENTIVES FOR ENTERPRISES {CREATE) ACT". Pursuant to Section 21 of Republic Act No. 11534, entitled "AN ACT REFORMING THE.
7 maj 2021 · What the law says. The CREATE Act amends Republic Act No. 8424 or the National Internal Revenue Code of 1997, as amended, with the following salient provisions: Income tax. Reduced corporate income tax: The CREATE Act lowers the corporate income tax rate from 30% to 25% beginning 1 July 2020.
The enumeration of goods and services that qualify as for the “direct and exclusive use for the registered project or activity” was expanded to include packaging materials, provision of basic infrastructure, utilities and maintenance, repair and overhaul of equipment.
In brief. The House of Representatives, under the 18th Congress of the Philippines, approved on third and final reading House Bill No. 4157 otherwise known as the Corporate Income Tax and Incentives Rationalization Act or CITIRA Bill last 13 September 2019.
