On 9 September 2024, the Philippine Senate approved the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (Create More) Act. The Create More Act amends the Create Act, which was approved in 2021 to introduce major tax reforms. One of the important measures of the Create Act was the introduction of enhanced deductions for qualifying export enterprises and domestic market enterprises, which is renamed the enhanced deductions regime (…