Dehniece Aleck V.

Mangawang
BS Accountancy

What is the very main purpose of CREATE Law?

Corporate Recovery and Tax Incentives for Enterprises is a law that will response to
the recovery of businesses from the effects of the COVID-19 pandemic. However, it also
includes extensive and long-lasting protections that go beyond what firms would
immediately need to recover from the crisis. With a primary focus on reducing corporate
income tax rates and optimizing fiscal incentives to better encourage local and foreign
investments in the Philippines, it intends to alter a number of elements of the outdated Tax
Code.
https://www.duranschulze.com/the-create-law-what-you-should-know/

How does CREATE Law affect the taxpayers, is it an additional burden or not?
CREATE Law can help all the taxpayers not to pay bigger percentage of the tax. It is
not actually a burden because it can help them to recover their financial in reducing the
percentage of the tax because some of the taxpayers are short in funds due to the
pandemic.