laffuz

ors
öğrenin

CREATE Act

• On 26 March 2021, the President signed into

law Republic Act No. 11534 or the Corporate

Recovery and Tax Incentives for Enterprises

Act.

• The law contains amendments to several

provisions of the National Internal Revenue

Code of 1997:

• Reduction of the corporate income tax rate

• New title on tax incentives

Created the Fiscal Incentives Review Board

 laffuz
ors
öğrenin

Updates on The Implementation of the CREATE Act

• FIRB adopted the current 2020 Investments

Priorities Plan (IPP) and its Implementing
Guidelines as the interim Strategic
Investment Priority Plan (SIPP) on 14 April
2021.
• The Implementing Rules and Regulations
took effect on 26 June 2021.

• The DOF launched an online registration

and incentives portal for investors on 14
June 2021.