SGV Tax Partners Josenilo G. Mendoza (JGM) and Cheryl C. Ong (CCO) led a public webinar titled An In-Depth Guide to the CREATE Act last 26 May. Tax Leader Fame K. delos Santos (FKS) welcomed almost 500 tax and finance professionals to the webinar.FKS, JGM and CCO at the webinar
JGM began the session with an overview of the tax reform packages of the Department of Finance and the objectives and salient features of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act). He then discussed its adjustments in corporate tax & other taxes for different types of corporations. Afterwards, CCO explained the Act’s rationalization of fiscal incentives and the qualified enterprises and activities. She also shared the transitory and vetoed provisions as well as the available tax incentives under the law, including VAT and customs duty incentives.
The webinar concluded with an open forum where the speakers addressed the participants’ questions. Tax Senior Director Anne Margaret Momongan, Director Virnee Joy Agot and Senior Associates Ana Rose Movido, Ala Mei Domingo and Timothy James Yambot were part of the webinar’s organizing team.