CREATE MORE Act Philippines: Tax Incentives & Investment Benefits for 2025
If you’re in the tourism, manufacturing, or BPO industry, now is the best time to expand your business in the Philippines. The CREATE MORE Act (Republic Act 12066), officially known as the Corporate Recovery and Tax Incentives for Enterprises – More Opportunities and Rationalization of Efficiency Act, is transforming investments in the country by offering […]
BSP Allows More Nonbank E-Money Issuers to Operate and Boost Digital Payments
The Bangko Sentral ng Pilipinas (BSP) has lifted its moratorium on issuing electronic money (e-money) licenses to nonbank financial institutions. This move, announced last December 16, 2024, is expected to accelerate digital payment adoption, increase competition, and enhance financial inclusion in the Philippines. Why BSP Lifted the Moratorium on E-Money Issuers In November 2021, the […]
Understanding the VAT Refund for Tourists in the Philippines
What Is the VAT Refund Program? The Philippines’ VAT refund system is a new benefit for international travelers looking to shop and save while exploring the country. Under Republic Act No. 12079, non-resident tourists can now claim a 12% VAT refund on eligible purchases made at accredited stores. If you’ve ever wondered, “How much is […]
Are Golf or Membership Club Shares VAT-exempt?
A client recently sent a quick question via WhatsApp: “If I purchase golf club shares under a holding company, is it subject to VAT?” It’s a great question. It’s one that many business owners and investors might also be wondering about. The short answer? It depends. According to B.E.T.H. AI, which referenced tax regulations, purchasing […]
Foreign Contractors Owning 100% of Local Construction Firms: RA 11711 Explained.
Key Features of RA 11711 and Jurisprudence: Empowering Local and Foreign Stakeholders Executive Summary: Opening Doors to Global Opportunities in Construction Two years ago, the Philippine construction industry began a transformative era with the enactment of Republic Act No. 11711 and the landmark Supreme Court decision in Philippine Contractors Accreditation Board (PCAB) v. Manila Water […]
Maximizing Opportunities: PEZA and BOI Incentives Under the CREATE Act
The Philippines offers a competitive suite of fiscal and non-fiscal incentives designed to attract investors, particularly through the Philippine Economic Zone Authority (PEZA) and the Board of Investments (BOI). These incentives, further streamlined by the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), are pivotal in driving economic growth and fostering a business-friendly environment. […]
Enhanced Tax Incentives for your Business from the CREATE MORE Act
When Do Enhanced Tax Incentives and Reforms Under the CREATE Act Apply? The enhanced tax incentives and reforms introduced under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act apply upon the effectivity of the law and its implementing rules and regulations (IRR). Specifically: a. Reduced Corporate Income Tax Rate: The CREATE MORE Act […]
Learn New Skills and Save on Taxes: EBET Act Explained.
Highlights of the EBET Act’s Promise EBET Act in a Nutshell The EBET Act (RA 12063) is a groundbreaking legislation that enables enterprises to deliver customized, competency-based training aligned with TESDA standards, addressing the skills mismatch and improving employability. It offers workers direct access to industry-relevant certifications and gives businesses generous fiscal incentives, including tax […]
A New Era of Digital Service Taxation: The BIR’s Draft Regulation on RA 12023
The Evolution of Taxation in the Digital Economy As the world increasingly shifts to the digital age, the Philippines has found itself grappling with how to keep its tax system in step with this rapid transformation. The explosion of online services—streaming platforms, e-commerce, digital advertising, and cloud storage—has created a new economy, one that does […]
Embracing Accountability: How the Extended Producer Responsibility (EPR) Law Transforms Plastic Waste Management for Sustainable Growth
The Urgent Need for Responsible Plastic Use Plastic waste’s environmental toll has become a global concern, with governments worldwide pressing for urgent, sustainable solutions. In the Philippines, Republic Act No. 11898, also known as the “Extended Producer Responsibility Act of 2022,” directly addresses this issue by amending the Ecological Solid Waste Management Act of 2000. […]