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  1. Tax
  2. Philippines: The Department of Finance and the Department of Trade and Industry jointly issue the Implementing Rules and Regulations of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act

Philippines: The Department of Finance and the Department of Trade and Industry jointly issue the Implementing Rules and Regulations of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act

28 Mar 2025    1 minute read
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In brief

The Implementing Rules and Regulations (IRR) of Title XIII of the National Internal Revenue Code, as amended by Republic Act No. 12066 (CREATE MORE), were signed on 17 February 2025. Key provisions include enhanced deductions for Domestic Market Enterprises (DMEs) and high-value DMEs, a new Registered Business Enterprise Local Tax (RBELT), a new tax incentive matrix on periods of availment, prohibition of double registration, and limitations on work-from-home (WFH) arrangements. The IRR also includes transitory provisions that address tax incentives granted under CREATE and prior to CREATE.


Contents

Background

The secretary of Finance and secretary of Trade and Industry signed the IRR of Title XIII of the National Internal Revenue Code, as amended by CREATE MORE on 17 February 2025.

CREATE MORE aims to make the Philippines a more attractive location for businesses by enhancing the tax incentives system to be more globally competitive, investment-friendly, predictable, and accountable. In line with this, CREATE MORE and its IRR introduce the enhanced deductions regime (EDR), the RBELT, a new tax incentive matrix, clearer guidelines on the transitory rules for Registered Business Enterprises (RBEs), prohibition of the double registration of projects, and limitations on WFH arrangements.

Click here to read the full alert.

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Quisumbing Torres, Manila
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Aimiel Marian Reyes
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Quisumbing Torres, Manila
aimielmarian.reyes@quisumbingtorres.com

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