The Philippines House of Representatives issued a release on 3 February 2021 announcing that the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill has been approved by both chambers of Congress following reconciliation of the bills approved earlier in each house. The final bill has been sent to the president to be signed into law. Key measures include corporate tax rate cuts, including a reduction in the standard corporate tax rate from 30% to 25%, with a 20% rate for SMEs,…