(as amended by the CREATE Law and Bayanihan 2)
This edition of the National Internal Revenue Code of 1997 (Tax Code) includes the amendments introduced by Republic Act (RA) No. 11534, otherwise known as the CREATE Law, and by RA No. 11494 or Bayanihan 2.
The most significant amendments under the CREATE Law are the reduction of the corporate income tax rate from 30% to 25% or 20% under certain conditions, and the rationalization of taxes and incentives of entities registered with the various Investment Promotion Agencies such as the Board of Investments and the Philippine Economic Zone Authority.
Tax Associate, PwC Philippines
Tel: +63 (2) 8845 2728 ext. 3459