CREATE Law Spurs Over P1.1 Trillion in Investments

MANILA — The Department of Finance (DOF) reported on Friday that investments approved under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act have surpassed PHP1 trillion as of April this year. This legislative measure has significantly spurred economic activity and job creation across the Philippines.

According to Philippines News Agency, the Fiscal Incentives Review Board (FIRB) has approved 56 applications totaling PHP873.9 billion in investment capital, expected to create 38,304 jobs. Additionally, Investment Promotion Agencies (IPAs) have approved 1,102 applications, representing PHP263.7 billion in committed investment capital, anticipated to generate a further 103,990 jobs. The CREATE Act, designed to establish a more targeted, transparent, and performance-based tax incentives regime, aims to ensure that fiscal support to registered business enterprises yields substantial economic returns.