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President Ferdinand “Bongbong” Marcos Jr. on Monday signed the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act, which aims to create more jobs and bring in new investors to the country.The CREATE MORE Act is a priority legislation of the Marcos administration.
''By building on the reforms initiated through the CREATE Act, we have enhanced our tax regime incentive framework, and making it more inviting for investment—while remaining steadfast in the principles of fiscal prudence and stability,'' he said.According to the President, the new law will push for the establishment of a more efficient approval process by raising the investment capital approval threshold for our Investment Promotion Agencies from P1 billion to P15 billion pesos.
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