Create More plugs tax perks gaps, seen drawing investors

Q: How long will it take to read this news story?

The story "Create More plugs tax perks gaps, seen drawing investors" has 779 words across 26 sentences, which will take approximately 4 - 7 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Create More plugs tax perks gaps, seen drawing investors" was covered 4 days ago by Business Mirror, a news publisher based in Philippines.

Q: How trustworthy is 'Business Mirror' news outlet?

Business Mirror is a fully independent (privately-owned) news outlet established in 2005 that covers mostly business and startups news. The outlet is headquartered in Philippines and publishes an average of 20 news stories per day. It's most recent story was published 9 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #23519194</li><li>URL: https://beamstart.com/news/create-more-plugs-tax-perks-17313415642893</li></ul>

Business Mirror Logo Business Mirror 4d ago

Create More plugs tax perks gaps, seen drawing investors - Business Mirror

Quick Summary:

THE Philippines has now gained a competitive edge in attracting more investments with the signing of Republic Act 12066 or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act by plugging the loopholes in the country’s tax incentive regime, according to Albay Second District Representative Jose Clemente "Joey” S. Salceda.

Among the salient features of RA 12066 is it reduced Corporate Income Tax (CIT) rate to 20 percent from 25 percent; and raised the tax deduction on power expenses from 50 percent to 100 percent.

Salceda, however, said the investments from the CREATE Act could have been much higher if the Bureau of Internal Revenue (BIR) did not “bungle” its implementation.“Because what the BIR did was it disallowed many [of the tax incentives] from the previous locators….