Mr. President on the Go | Create More Act isinabatas na; - video Dailymotion

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00:00And at this point, let's discuss the programs of the current administration here in Mr. President on the go.

00:28First of all, fellow countrymen, President Ferdinand R. Marcos, Jr. has passed the law,

00:34the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy or CREATE MORE Act.

00:44This CREATE MORE Act is a law that can give more jobs to Filipinos and can boost the economy of the country.

00:55Our President's message in the Ceremonial Signing in Malacanang was that through the CREATE MORE Act,

01:03the country will be able to attract investments from local and foreign investors.

01:10Our President also clarified some of the important provisions of the law.

01:17The CREATE MORE Act clarified the rules of the availment of VAT and Duty Incentives

01:23and expanded its coverage to include non-registered exporters and high-value domestic market enterprises.

01:31Our President also added that this law establishes clear timelines and deadlines

01:37and limits compliance requirements that promote transparency and predictability.

01:45Our President also clarified the CREATE MORE Act,

01:48the Local Taxation During Income Tax Holiday and Enhanced Deductions Regime

01:53for a fair and balanced system for local taxes and this will be given to businesses of greater security.

02:00This will also have a more efficient approval process through the increase of the Investment Capital Approval Threshold

02:08for Investment Promotion Agencies from P1B to P15B

02:13where projects of this value will be required to be reviewed by the Fiscal Incentives Review Board.

02:19The CREATE MORE Act also expanded the Enhanced Deductions Regime

02:23that has greater tax relief for registered business enterprises.

02:27Our President also said that the CREATE MORE Act is a proof that the government is listening to the needs of the business community.

02:35This is part of the government's commitment to assist business enterprises

02:40for the growth of investments in the country and for the continued prosperity of the Philippine economy.

02:46And that is the update on the programs of the current administration.

02:52Until the next episode of Mr. President on the Go.

Mr. President on the Go | Create More Act isinabatas na;

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