American Chamber of Commerce of the Philippines recently issued the following announcement.
Tax Briefing on the Corporate Recovery and Tax Incentive for Enterprises
When
Monday, October 19, 2020 (10:00 – 12:00)
Organizer
AmCham Mindanao
Contact Organizer
+63 9168767729
Event Details
AmCham members get two (2) complimentary passes which they must register here: https://zoom.us/webinar/register/WN_vJgpKJ9iS6qwGceGQphLEQ
Non-members can register through this event page.
The Philippine government is preparing to launch the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) which is a recalibration of the Corporate Income Tax and Incentives Rationalization Act (CITIRA) that was originally issued in September 2019 as a means of reducing corporate income tax (CIT) rate and rationalizing specific tax incentives. Through CREATE, the government will immediately reduce the CIT rate from the current 30 percent to 25 percent, and losses incurred by non-large taxpayers in 2020 can be carried over for the next five years. This legislation will also give the government flexibility in granting fiscal and non-fiscal incentives to attract high-value foreign investments.
Original source: https://amchamphilippines.glueup.com/event/tax-briefing-on-the-corporate-recovery-and-tax-incentive-for-enterprises-28403/?pk_campaign=widget-event-list
