The CREATE Act is a time-bound and tailor-made set of corporate and tax reforms to counter the effects of COVID-19 on the Philippines’ economy.
The government approved the Financial Institutions Strategic Transfer (FIST) Act to help dispose NPAs and NPLs of banks and financial institutions.
The country passed House Bill’s No. 8461 and 8512 which authorizes the suspension of premium contribution hikes for social security programs.
The Philippines uses a self-assessment tax system, and the accounting period consists of 12 months, normally ending on December 31.
The Philippine government has approved 12 new economic zones, which will comprise of IT centers, IT parks, and manufacturing zones.
The Philippines is preparing to issue the CREATE Act to accelerate reforms of the country’s corporate tax system.
Confusion over how the 13th month pay and Christmas bonuses differ in the Philippines is common. We look at the differences between the two types of bonus payments, how they are taxed, and who is eligible.
On October 24, 2019, the Philippines and China signed six bilateral agreements covering infrastructure, trade, communications, and customs. Read on to learn more.
Learn more about the amended provisions of the Foreign Investments Act (FIA) of 1991, aimed to attract greater foreign investment into the country.
New tax cuts and incentives in the Philippines are available under the Corporate Income Tax and Incentives Rationalization Act (CITIRA). Read on to see if the corporate tax reform benefits your business.