IRR NG CREATE ACT NILAGDAAN NG DOF, DTI BAGO PA ANG 90-DAY DEADLINE

Pormal nang nilagdaan nina Finance Secretary Carlos Dominguez III at Trade and Industry Secretary Ramon M. Lopez ang Implementing Rules and Regulations (IRR) ng Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.

Bago pa ito sa nakatakdang deadline na magaganap sa ika-10 ng Hulyo.

Ang micro, small and medium enterprises (MSMEs) ang pinakamalaking benepisyaryo ng CREATE na may corporate income tax (CIT) rate reduction.

Makakatulong ito para mahikayat ang mas marami pang foreign investment na mag-alok ng maraming trabaho sa bansa na malaking tulong sa mga Pilipino.

Nagpapasalamat naman sina Dominguez at Lopez sa mga stakeholder mula sa pribadong sektor at iba pang ahensiya ng gobyerno tulad ng investment promotion agencies (IPAs).

“The approval of the IRR covering Title XIII of the Act following multiple consultations with the various stakeholders and way ahead of schedule highlight the Duterte administration’s commitment to come up with an effective, efficient, and fiscally-responsible incentive system, which, hopefully, will set the standard in the region. We should stop instigating a ‘race to the bottom’ in tax regimes that only compromises the capacity of the state to provide for the public,” saad ni Dominguez.

“The inputs provided by stakeholders have helped us improve the IRR and provide clarity on the implementation of the new Title XIII on tax incentives in the Tax Code. With the release of the IRR, we expect our IPAs to go full steam ahead on attracting investments that will enhance investments in the country, create quality jobs, and improve the lives of Filipinos,” sambit naman ni Lopez.

Layon ng CREATE law na mabawasan ang mga corporate income taxes na unang nang nilagdaan ni Pangulong Rodrigo Duterte noong Marso.