What are the new tax incentives under the ‘CREATE MORE’ Act?

MANILA, Philippines – President Ferdinand Marcos Jr. signed Republic Act 12066, which provides clarity on corporate tax incentives and makes it easier for businesses — both foreign and local — to set up shop in the country.

The Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act or simply, the “CREATE MORE” Act, was signed into law on Monday, November 11.

This comes over three years since the approval of Republic Act 11534 or the CREATE bill...