The Tax team organized a public webinar on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act last 30 March. Tax Principal Jules E. Riego welcomed over 1,000 participants from the banking, hotel, manufacturing, real estate, power and utilities, BPO, and insurance industries.
Tax Leader Fabian K. Delos Santos (FKS) led the discussion on the objectives and salient features of the CREATE Act. He explained the Act’s adjustments in corporate income tax, exchange of property and VAT exempt transactions. Tax Partner Cheryl C. Ong (CCO) then discussed the rationalization of fiscal incentives, highlighting the expanded functions of the Fiscal Incentives Review Board (FIRB) and the qualifications for tax incentives. She also shared tips on how companies can maximize the incentives under the Act. The discussions were followed by an open forum where FKS, CCO and Tax Partner Thyrza F. Marbas (TFM) addressed participants’ questions.
Tax Senior Associate Maria Crisanta Esgana moderated the webinar. The organizing team included Tax Senior Director Karen Mae Calam-Ibañez, Managers Virnee Joy Agot-Ting and Aiza Giltendez, and Senior Associates Gabriellen Quijada-Tabuñag and Wennonah Marie Garces.