The Philippines’ list of preferred areas of economic activities that the government will be granting juicy tax and incentive packages to is undergoing significant makeover with the implementation of the CREATE Law.
As such, the Philippines’ new industrial policy must strengthen competitiveness by adoption of advanced technologies in agriculture, manufacturing and services through structural change and industrialization. Under the CREATE Law, investors in these economic activities are entitled to a package of tax incentives and facilitation by the government under the Tier 1 classification, without prejudice to upgrade to Tiers II and III if qualified.
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