The National Economic and Development Authority (NEDA) welcomed the enactment of the Corporate Recovery and Tax Incentives for Enterprises (Create) Act, noting the law will help the country attract more investments. Second, it brings our corporate tax rate closer to our Asean peers and enhances our fiscal incentives system to help attract more foreign direct investments (FDIs), which will help generate more jobs and accelerate our recovery,” said Chua. The NEDA chief said that Create will put the country in a better position to compete for investments. He said, however, that gains from Create will be limited if the Philippines will not relax restrictions on foreign investments. These bills will complement Create by easing restrictions on foreign investments,” said Chua.

Source: Manila Times March 29, 2021 16:28 UTC