By Kyle Aristophere T. Atienza, Reporter
THE PHILIPPINE government expects to forego P5.9 billion in tax revenue in the next four years from a new law that expands fiscal incentives and lowers corporate income tax (CIT) on certain foreign enterprises.
But these losses under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act could be offset by an increase in foreign direct investments (FDI) and new taxes, government officials said.
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