The proposed Corporate Recovery and Tax Incentives for Enterprises (Create) Act would support the Philippine economy toward a V-shaped recovery from the coronavirus disease 2019 (Covid-19) pandemic, and create and save much-needed jobs this year. Another key feature of Create is the extension of the sunset period for current incentive recipients from four to nine years. “The Philippines must be ready to provide ‘asylum incentives,’ so that we can give these firms a good [reason] to invest here,” Salceda said. “So I think we need Create in order to trigger a V-shaped recovery for this country,” Salceda stressed. “At this point, every session hour counts, and we thank the Congress for working hard on this historic reform,” Dominguez said.

Source: Manila Times May 27, 2020 17:03 UTC