MANILA, Philippines — Senator Pia Cayetano saw as a “huge setback” the delayed passage of the proposed Corporate Recovery and Tax Incentives Reform Act (CREATE) this year.
This, with the House of Representatives intending to hold a bicameral conference committee on the measure instead of adopting the upper chamber’s version.
During Wednesday’s plenary session, the last one to be held in 2020, Cayetano expressed regret that the CREATE bill would not be enacted into law this year.
“I am sad to say that there will be no immediate decrease in the corporate income tax, there will be no rationalization and certainty. What the businessmen had…
Keep on reading: Lawmaker says delayed passage of CREATE bill a huge setback