Philippines talks incentives at forum
VYING FOR BUSINESS: The Philippines last month passed a law to lower corporate income taxes to attract more firms to invest and open manufacturing facilities there
Staff writer, with 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, hosted 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 Philippine 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.