Malaking panalo para sa manufacturing sector ang pagkakaratipika sa Kamara at Senado sa CREATE MORE Act.
Ayon kay Ways and Means Committee Chair Joey Salceda, inaayos ng CREATE MORE ang isyu sa pagpapataw ng VAT na naka apekto sa may 120,000 na trabaho sa nakalipas na 3 taon.
“While CREATE improved job creation in the services sector due to lower CIT, there is evidence that the VAT-sensitive manufacturing sector suffered due to the CREATE IRR, which deviated from legislative intent. The sector lost 41,840 jobs more than it usually does every year since the issuance of these IRRs.” ani Salceda
Maliban dito, maisasaayos din ng panukalang batas ang mataas presyo ng kuryente dahil sa enhanced deduction sa power cost.
Sa tantya ng House tax chief bababa ito ng 3 pesos kada kilowatt hour para sa manufacturing
“Finally, high power cost is an existential threat to Philippine industries, especially in the manufacturing sector. Because we cannot afford to subsidize power costs as our neighbors do, an enhanced deduction for power cost will be more targeted towards those who need competitive power rates to create jobs.” sabi pa niya
Layon ng CREATE More Act (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy) na ayusin ang Value Added Tax (VAT) regime sa ilalim ng CREATE Implementing Rules and Regulations (IRR) kung saan mula 25% ay gagawin nang 20% ang Corporate Income Tax (CIT) for enhanced deductions (ED).
Nagpasalamat naman si Salceda sa Senado na tinanggap ang kaniyang proposal na bigyan ng tax refund ang petroleum suppliers sa lahat ng tax-exempt entities at pagpapahintulot sa mga local government units na itakda ang registered business enterprises o RBE local tax ng mas mababa sa 2 percent. | ulat ni Kathleen Forbes
