MANILA, Philippines – Inaasahang mababawasan ang red tape at makakalikha ng mas maraming trabaho sa investment sector sa pagsasabatas ng Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, ayon kay dating Senate President Juan Miguel “Migz” Zubiri.
Sa paghayag, sinabi ni Zubiri na tanging red tape ang nakakahadlang sa pag-unlad ng business sector sa bansa na susugpuin ng CREATE MORE na matagal nang idinadaing ng negosyante at namumuhunan.
Kabilang din sa lulutasin ng CREATE MORE ang protracted process sa pagsusumite ng Value Added Tax (VAT) refunds, ayon kay Zubiri, pangunahing awtor ng batas.
“We wanted to straighten out and simplify the process of VAT refunds, because this has been an issue for many major locators in the country. They go years and years without seeing the refunds that they are entitled to, and they lose billions in the process,” paliwanag ni Zubiri.
Sinuri ni Zubiri ang panukala matapos matuklasan ang ilang reklamo mula sa kasalukuyang imbestor sa Pilipinas particular ang negosyanteng Hapon, ang Itochu Corporation, ang parent company ng DOLE Philippines.
“Former Japanese Prime Minister Fumio Kishida himself brought these concerns up with us when we went on a parliamentary visit to Japan in 2023,” ayon kay Zubiri.
“That meeting was crucial in my push for the measure.”
“If existing investors are losing billions here, naturally they would want to leave, and there are many investment options available to them now, especially among our Southeast Asian neighbors,” dagdag niya.
“If they leave, that’s thousands of jobs gone, and we become a no-go for other potential investors,” giit ng senador.
Inamyendahan ng CREATE MORE ang unang CREATE Act of 2021, na nagtatakda ngayon ngm timeline para sa aplikasyon at proseso ng pag-aapela sa VAT refunds, at nilimitahan ang dokumento na kailangan mula sa taxpayer.
Alinsunod sa Ease of Doing Business Act and Efficient Government Service Delivery Act, isinulong ni Zubiri ang panibagong CREATE MORE Act upang magtakda ng 20-day time frame para sa Fiscal Incentives Review Board (FIRB) and Investment Promotions Agencies (IPAs) na kumilos sa aplikasyon para sa tax incentives.
Sa ilalim ng bagong batas, ang FIRB— ang approving authority para sa Negosyo na lalampas sa P15 bilyong capital threshold—na makakakuha ng incentive period mula 24 hanggang 27 taon, mula sa dating 12 hanggang 17 taon.
Sinabi pa ni Zubiri na para mapagaan pa ng husto ang tax landscape sa bansa, tiniyak din ng CREATE MORE Act na exempted ang lahat ng export-oriented enterprises sa pagbabayad ng VAT sa biniling materyales sa local kabilang ang serbisyo na direktang sangkot sa produksiyon.
“The key to boosting our economy and creating more jobs is inviting more investors in,” ayon kay Zubiri. “And the key to inviting more investors in? Taking care of the ones who are already here.”
“With the CREATE MORE Act now signed into law, we can look forward to new investors entering the country, and old ones expanding their investments even further,’ giit pa niya. Ernie Reyes
