Announcement
26 Mar 2021
In March 2021, the Philippines relaxed tax requirements for export enterprises following the issuance of the CREATE Act.
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Number of interventions
4
2 certainly harmful
0 likely harmful
2 liberalising
List of interventions
Implementation date
11 Apr 2021
Revocation date:
No revocation date
Updated: 10 Jun 2021
Tax or social insurance relief
In force
On 26 March 2021, the Philippines issued the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act). Among others, it provides tax relief in the form of VAT zero-rating on local pur...
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Updated: 10 Jun 2021
Tax-based export incentive
In force
On 26 March 2021, the Philippines issued the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act) to provide an income tax holiday (ITH) of four to seven years for export enterprises...
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Implementation date
11 Apr 2021
Revocation date:
No revocation date
Updated: 10 Jun 2021
Internal taxation of imports
In force
On 26 March 2021, following the issuance of the Philippines issued the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act), the Philippines exempted the VAT on importations carri...
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Updated: 10 Jun 2021
Import tariff
In force
On 26 March 2021, the Philippines issued the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act) to provide import duty exemptions on capital equipment, raw materials, spare part...
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