As previously reported, the Philippines Senate approved the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Bill on 26 November 2020, including a cut in the corporate tax rate and extensive incentive reforms, which was to be approved by the House of Representatives and signed into law by the president before the end of 2020. However, according to a recent release from the Philippines Department of Finance, the passage and enactment of the tax reform bill has still not been com…