TITLE Xlll of the Tax Code under CREATE Act

Introduction
Prior to the amendment of the Tax Code under CREATE Act, Tax Incentives were
granted to registered business enterprises by different government agencies like the
Philippine Economic Zone Authority (PEZA) and Board of Investments (BOI) under
different sets of special laws such as the Special Economic Zone Act or PEZA law and EO
226 or the Omnibus Investment Act.

The CREATE law introduced a new title in the Tax Code, Title XIII, entitled "Tax
Incentives." This new title will consolidate and simplify the different tax incentives granted
by various Investment Promotion Agencies (IPA) like the BOI and PEZA.
 The Secretary of Finance and Secretary of Trade and Industry after consultations with
the Commissioner of Internal Revenue, the Board of Investments and other Promotion
Agencies, issued the Irnplementing Rules and Regulations (IRR) for Title XIII of the Tax Code,
as amended.