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PH Government Offering Tax Incentives For Hyundai To Locally Manufacture Ioniq Hybrid | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices


PH Government Offering Tax Incentives For Hyundai To Locally Manufacture Ioniq Hybrid
The Philippine government is eyeing Hyundai to assemble the Ioniq Hybrid in the Philippines. This was after the DTI’s Board of Investments met with the Embassy of the Republic of Korea in the Philippines, the Embassy of the Republic of the Philippines in South Korea, and the DTI’s Foreign Trade Service Corps.
The meeting centered around the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and the Strategic Investment Priority Plan (SIPP).
“With CREATE in place, we are encouraging South Korean firms, especially those engaged in strategic activities like EV/EV parts and semiconductor manufacturing to invest or expand in the country and take full advantage of this landmark legislation. We are strongly optimistic of a resilient post-pandemic recovery as the fundamental structure and strength of our economy remain intact. We positively respond to the easing of quara ....

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Peza-registered new normal workspaces in Oakridge Business Park


February 23, 2021
TO ADDRESS the rapidly changing needs of locators across different industries, property developers pivot and adapt, foremost by implementing heightened safety protocol and ensuring enhanced health and sanitation measures in the new normal.
Cebu-based property developer Oakridge Realty and Development Corp., with its flagship development Oakridge Business Park, is dedicated to ensuring key operational support and safety measures are in place so that locators can focus on their competencies as they develop, rebuild and grow their businesses.
Strategically located and offering multiple Grade A Quality, Peza-registered IT Buildings, Oakridge Business Park continues to offer competitive leasable spaces ideal for IT-BPOs and medical KPOs, among many others, with flexible options for semi-fitted or bare shell units of varying cuts available from full floor office spaces at 1,600 to 2,000 square meters and smaller units at 150 to 400 square mete ....

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CREATE will boost National Employment Recovery Strategy; can create 2 million jobs


MANILA – The National Employment Recovery Strategy (NERS) Task Force chaired by the Department of Trade and Industry (DTI) and co-chaired by the Department of Labor and Employment (DOLE) and the Technical Education and Skills Development Authority (TESDA), which was signed last 5 February by several agencies, will be given a big boost by the recent bicameral approval of the game-changing Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. 
DTI Secretary Ramon Lopez said, “The landmark tax and incentives reform bill that we expect to be signed by the President is expected to bring in massive inflow of investments that will create more jobs, especially as we focus efforts in the National Employment Recovery during this period of the pandemic and beyond. The passing of CREATE will firm up the tax and incentive reforms that will make the investment climate significantly more attractive than the current tax and incentive regime.” ....

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Press Release - Cayetano: Sponsorship speech on the Bicameral Conference Committee Report on the...


Press Release
Sponsorship speech on the Bicameral Conference Committee Report on the CREATE Bill
3 February 2021
Mr. President, as Chairperson of the Senate contingent to the Bicameral Conference Committee tasked to propose reforms on the Corporate Income Tax and Incentives system, I am elated, I am giddy with excitement to report to the Senate on the approved version of the CREATE Bill. Here are the major provisions of our measure, which the bicam committee adopted:
- Importation of Covid-19 vaccines are exempt from import duties. Note that the Senate version already included exemption of the vaccines from VAT.
- Enterprises have the option to choose between the Special Corporate Income Tax of 5% or Enhanced Deductions after enjoying the Income Tax Holiday (ITH) ....

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