The Philippines Department of Finance has issued a release regarding President Duterte’s renewed appeal in his 5th State-of-Nation Address for Congress to pass the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, which is a redesigned package of the Corporate Income Tax and Incentives Rationalization Act (CITIRA). One of the key measures of the current version of the CREATE bill is a reduction in the corporate tax rate from 30% to 25%, which is to apply retroactively from …