Pasado na sa House Committee on Ways and Means ang panukala na layong amyendahan ang Corporate Recovery and Tax Incentives for Enterprises (CREATE) at ayusin ang tax incentives system ng bansa sa pamamagitan ng pagpapalawig ng deduction regime.
Sa ilalim nito ang income tax rates ay magiging 20 percent para domestic at resident foreign corporations na kasama sa enhanced deductions regime.
Bibigyan ang mga ito ng depreciation allowance para sa assets na nakuha mula sa production of goods and services (qualified capital expenditure), kabilang ang dagdag na 10 percent para buildings at dagdag pang 20 percent para sa makinarya at kagamitan; may bawas ding 50 percent sa labor expense na nagastos sa taxable year; 100 percent deduction sa research and development expense, at training expense sa taxable year; at 50 percent na bawas pa sa domestic input expense.
Ipinapanukala din ang dagdag pang 50 percent deduction sa power expenses, at 100 percent additional deduction sa mga trade fairs, exhibitions, and missions.
Magkakaroon din ng mas pinadaling tax refund system para sa registered business enterprises (RBEs), risk-based classification ng claims at audit framework.
Pagbibigay diin ni Albay Rep. Joey Salceda, chair ng Komite na nahagi ito ng paghahanda ng Pilipinas sa epekto ng Global Minimum Corporate Tax kung saan papatawan pa ng top-up tax ang mga multinationals sa kanilang country of origin na nago-operate dito sa Pilipinas.
Kung hindi kasi aniya ito maaayos at
“Major Philippine trade partners like Japan and Korea have already approved their legislation on the matter. So, it will already definitely affect us. Among all ASEAN-6 economies, only the Philippines has not made significant progress in implementing the rules. But it will come. And when it does, it could affect our tax incentives system.” Ani Salceda. | ulat ni Kathleen Jean Forbes
