Tax Alert No. 5 - [NEW ISSUANCE] 2021 CREATE Act
2021 CREATE Act (Salient Features)
It also aims to plug tax leakages by rationalizing the fiscal incentives granted to investors and shifts the administration of such investments towards a performance-based, targeted and time bound system. President Duterte signed the CREATE act as Republic Act No. 11534 with certain line items vetoed last March 26, 2021.
Read more on the CREATE act.
The law is set to take effect 15 days after its complete publication in the Official Gazette or in a newspaper of general circulation.