Philippines offers new incentives at Investment Forum in Taipei
04/20/2021 12:28 PM
Photo courtesy of Manila Economic and Cultural Office (MECO)
Taipei, April 20 (CNA) The Philippines highlighted new tax incentives for investing and operating in the country at the annual Philippine Investment Forum in Taipei on April 15.
The forum, held by the Manila Economic and Cultural Office (MECO), focused on the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which was signed into law by President Rodrigo Duterte on March 26 and takes effect on July 1.
The act lowers the corporate income tax rate from 30 percent to 25 percent for large corporations and to 20 percent for small businesses.