Japanese investors welcome CREATE bill says DOF

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2019/news/09/03/japan-ph.jpg"/><figcaption>Japan investors welcome the passing of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill to bring in more investments to the Philippines. <em>File photo</em></figcaption></figure></div><p>MANILA - Japanese investors welcome a bill seeking to lower corporate income tax rates, the Department of Finance said Monday. </p><p>The DOF quoted Japanese Ambassador Koshikawa Kazuhiko saying that the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act will soon end the unpredictability on the future tax and incentives scheme of the country.</p><p>Koshikawa told this to Finance Secretary Carlos Dominguez during a courtesy call, the DOF added. </p><p>Earlier passed in the third and final reading of the Senate, CREATE will lower the corporate income tax (CIT) rate to 20 percent for firms earning P5 million and below. Other companies, including foreign firms with higher earnings, will pay 25 percent.</p><p>At 30 percent, the Philippines&#x27; current CIT is the highest in Southeast Asia.</p><p>The CREATE bill will have to be consolidated and approved by the House of Representatives when they resume session next year before the president could sign it into law.</p><p>Koshikawa also told the DOF that Japanese firms are currently exploring ways to realign their supply chains to countries like the Philippines.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/26/20/create-bill-hurdles-senate-on-final-reading-after-dof-agrees-to-easing-some-provisions">CREATE bill hurdles Senate on final reading after DOF agrees to easing some provisions</a></li>	<li><a href="https://news.abs-cbn.com/business/12/09/20/manufacturing-recovery-underway-to-get-boost-from-tax-reform-free-trade-deal-dti">Manufacturing recovery underway, to get boost from tax reform, free trade deal: DTI</a></li></ul><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/dH6BvLqcI4w?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Japanese investors welcome a bill seeking to lower corporate income tax rates, the Department of Finance said Monday. <br /> </p>

Japanese investors welcome a bill seeking to lower corporate income tax rates, the Department of Finance said Monday.

Japanese investors welcome CREATE bill says DOF | ABS-CBN

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Japanese investors welcome CREATE bill says DOF

Japanese investors welcome CREATE bill says DOF

ABS-CBN News

Published Dec 29, 2020 11:18 AM PHT

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CREATE

CREATE bill

Corporate Recovery and Tax Incentives for Enterprises bill

Department of Finance

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Senate

House of Representatives

corporate income tax

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tax reform

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