The Philippines Department of Finance has issued a release concerning the newly reconstituted Fiscal Incentives Review Board (FIRB) under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. The release also confirms that the CREATE Act entered into force on 11 April 2021 and takes effect on 12 April 2021. Aside from the incentive reforms, the CREATE Act also introduced several corporate tax rate cuts and other changes.
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Dominguez calls for early meeting of new FIRB u…