Eligibility for new incentives under RA 11534 CREATE Philippines

RA 11534 CREATE Philippines provides as well that existing registered business enterprises with PEZA,
BOI, and other IPAS could be eligible for new incentives under RA 11534 CREATE, subject to the
conditions and qualifications under Strategic Investments Priorities Plan (SIPP). The original text
(enrolled bill forwarded to President for approval) actually provides for an extension of up to 10 years
but was Vetoed by the President justifying among others that only new export enterprises should be
allowed new incentives. As such, we will have to wait and see how the Strategic Investments Priorities
Plan would deal with this