President Marcos will sign the CREATE MORE Act, which provides tax incentives to attract investors and spur job growth in the Philippines. Senate President Francis Escudero stated that the law will reduce corporate tax rates from 25% to 20% and improve tax processes to create a more predictable investment environment. The bill also allows registered businesses to increase power expense deductions to 200%, helping address high regional electricity rates. Essential services will receive VAT exemptions, and businesses can implement remote work for up to 50% of employees.
NEW TAX INCENTIVES BILL AIMS TO BOOST PHILIPPINE ECONOMY
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