Added Title
DLSU AKI Policy Brief, Volume XIII, No. 8
Document Type
Policy Brief
Publication Date
10-2020
Place of Publication
DLSU-Angelo King Institute, Room 223, LS building, 2401 Taft Avenue, Manila 0922
Abstract
In response to the COVID-19 pandemic, there is a proposal to amend the Corporate Income Tax and Incentives Reform Act (CITIRA) into the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) Act. The proposed amendments are as follows: (a) An immediate five percentage point cut into the corporate income tax (CIT) rate starting July 2020; (b) Maintaining for up to nine years the status quo for registered business activities enjoying the 5% tax on gross income earned (GIE) incentive; and (c) More flexibility for the President to grant a combination of fiscal and non-fiscal incentives, which will be critical as the country competes internationally for high-value investments (Department of Finance (DOF), 2020).
html
Recommended Citation
Yu, K., & Tiongco, M. (2020). Will CREATE Resolve the Philippines’ Unemployment Woes Amidst the COVID-19 Pandemic?. Retrieved from https://animorepository.dlsu.edu.ph/res_aki/121
Disciplines
Business Law, Public Responsibility, and Ethics | Taxation | Tax Law
Keywords
CREATE Law; taxation; Pandemic; Covid-19; Corporate Income Tax and Incentives Reform Act; Corporate Recovery and Tax Incentives for Enterprises Act
Upload File
wf_yes
Included in
Business Law, Public Responsibility, and Ethics Commons, Taxation Commons, Tax Law Commons
