On 18 March 2024 the Philippines approved a bill amending the‘CREATE’ Actand regulations.House Bill No. 9794, known as theCorporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy(CREATE MORE) bill, proposes reducing income tax for local and re...
The CREATE MORE Act builds upon the foundations of the 2021Corporate Recovery and Tax Incentives for Enterprises (CREATE) Actby introducing several key enhancements to the Philippines’ tax incentive framework. These enhancements include the introduction of a 20 percent corporate income tax (CIT) rate...