CREATE projects worth P1.3T get tax perks

Transcript

00:00The government has approved over 1,200 projects amounting to 1.27 trillion pesos in investment

00:07capital since the enactment of the CREATE law.

00:10The Department of Finance or DOF reported 75 percent or approximately 953.06 billion

00:18pesos were approved by the Fiscal Incentives Review Board or FIRB covering sectors such

00:25as Information and Communications Technology or ICT, Transportation, Manufacturing, Energy

00:31and Tourism.

00:32The remaining 25 percent or over 315 billion pesos came from Investment Promotion Agencies

00:38or IPAs across more than 1,000 projects.

00:44These initiatives are expected to generate nearly 160,000 jobs primarily in labor-intensive

00:51manufacturing.

00:52CREATE law aims to align corporate tax rates with ASEAN standards, streamline fiscal incentives

00:58and ensure performance-based support for economic growth.