CLARK FREEPORT—The CREATE MORE Act is poised to reshape the Philippine business landscape by streamlining tax procedures and expanding incentives for investors.
This was the central theme of a town hall meeting on February 28, organized by the Clark Development Corporation (CDC) in collaboration with the Fiscal Incentives Review Board (FIRB). The event provided stakeholders with a comprehensive briefing on the newly signed Implementing Rules and Regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. The law aims to create a more investor-friendly environment by simplifying tax processes and broadening available incentives.
CDC President and CEO Atty. Agnes VST Devanadera underscored the significance of collaboration in ensuring a seamless transition under the updated policies.
“CREATE MORE is something that we have all looked forward to. It is something that we all have worked on together. It’s not just CDC going to Congress, going to the Senate, it’s not just CDC asking questions, but really something that occupied our high interest. In fact, some of you, our locators, our dear locators, actually held on to your investments on your expansion programs because you have always waited for the outcome of CREATE MORE,” Devanadera said.
More than 300 participants attended the hybrid event, both virtually and in person, at the Health and Sanitation Training Hall.
FIRB Assistant Secretary Dakila Napao, along with other FIRB representatives, led discussions on key provisions of the law, highlighting its potential benefits for businesses and investors.