Philippines Senate Considers Bill for Implementation of CREATE Act

The Philippine Senate May 7 accepted for consideration Bill No. 2654, for the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. The bill includes measures to: 1) amend the applicability of duty exemption, VAT exemption on specified imports, and VAT zero rating on specified local purchases; 2) allow registered business enterprises (RBEs) in the information technology and business process management (IT-BPM) sector to implement a telecommuting program, including work-from-home arrangements limited to the geographical boundaries of the economic zone or freeport, not exceeding 50 percent of the total workforce; 3) allow RBEs to opt into an ...