The Department of Finance (DOF) will look into the items in the Congress-approved version of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act that advocate group Action for Economic Reforms (AER) wants vetoed by President Duterte.
The AER had warned about the “questionable” CREATE provisions: local oil refineries’ exemption from duties and taxes, plus inclusion of crude oil refining in the Strategic Investment Priorities Plan; exemption of legislative franchises’ tax perks from the Fiscal Incentive Review Board’s and presidential scrutiny; and higher value-added tax-exemption cap for the housing sector.
“As far as I know, this bill has yet to be enrolled by th…
Keep on reading: DOF to study CREATE ‘insertions’ amid calls for veto