MANILA, Philippines — The government has approved 1,158 projects worth P1.14 trillion three years since the enactment of the Corporate Recovery and Tax Incentives for Enterprises Law, data from the Department of Finance showed.
Earlier in February, the government increased the investment capital threshold assigned to IPAs to P15 billion in a bid to promote the ease of doing business. Republic Act 11534 or the CREATE Law slashed the corporate income tax rates, making them comparable with the ASEAN region. Meanwhile, the Philippine Chamber of Commerce and Industry is urging Congress to immediately pass Senate Bill 2654 or the CREATE to Maximize Corporate Recovery and Tax Incentives for Enterprises .
“Policymakers would then need to tighten the monetary reins even further if inflation were to surge in the future, supporting...