The CREATE Law and Its Implementing Rules - with Sample Computations
₱1,499.00 + VAT
Featured Speaker: Ms. Rhodora Icaranom
Former Revenue District Officer – B.I.R.
July 1, 2021
2:00pm – 5:00pm
Regular Rate Php 1,499.00 + VAT starting June 25, 2021
Early Bird Rate Php 1,399.00 + VAT until June 24, 2021
Group Rate Php 1,299.00 + VAT per pax for 5 or more pax
Inclusive of the Webinar Session, Presentation Materials of the Speaker and the Digital Certificate (with dashboard)
The CREATE Law and Its Implementing Rules
with Sample Computations
A lot of accountants and business people want to be clarified about the practical aspects of the implementation of The Corporate Recovery and Tax Incentives for Enterprises Act or CREATE Law. In particular, they want more details about the portfolio of tax perks and other benefits, together with sample computations. Look no further. Here, you can find all the answers you want for all your questions and clarifications about the implementing guidelines of the CREATE Law.
- Reduction of Corporate Income Tax Rates (RCIT/MCIT)
- Final Income Tax Rates for Corporations
- Exemption of intercorporate dividends including foreign sourced dividends
- Reduction on Income Tax preferential rate of proprietary Institutions and non-profit hospitals
- Repeal of the Improperly Accumulated Earnings Tax
- Subjecting OBUs and ROHQs to RCIT
- Reduction of Percentage Tax Rate
- Tax Free Exchange (Sec 40) No BIR ruling required
- Additional VAT Exemptions of certain goods and services
- Interest Arbitrage (for Corporate Income Tax Rates of 25% and 20%)
- Deductions from Gross Income
- Companies/Enterprises qualified for incentives
- What are qualified activities to avail the incentives of ITH/SCIT
- What are the fiscal incentives and other incentives
- Rationalization of incentives based on location and industry
- Enhanced Deductions for qualified enterprises
- Sunset periods for existing projects
- Authority to grant incentives
- FIRB and IPA as regulatory bodies for the incentives application and grant
- Items vetoed by the President of the Republic of the Philippines
Implementing Revenue Regulations:
RR 2-2021 Implementing the new FINAL Tax Rates on certain passive income of Individuals and Corporations pursuant to CREATE
- Income payments to Non-resident Aliens Engaged in Trade or business in the Phils.
- Income Payments to a Resident Foreign Corporation
- Income derived from all Sources within the Phils. By Non-resident foreign corporation
- Government Money Payments
RR 3-2021 Amendment of Section 20 of the NIRC of 1997
- Submission of Tax-Related and Pertinent Information to the BIR/DOF from entities receiving incentives
- Prohibition of BIR/DOF from leaking information to any person without prior written approval from the CIR pursuant to Sec 270 of the Tax Code, as amended
RR 4-2021 Implementing CREATE provisions affecting VAT and PT
- VAT Exemptions on sale of real properties
- Additional coverage of VAT exemptions w/ illustrations
- Tax on Persons exempt from VAT
RR 5-2021 Implementing the impact of CREATE like new IT rates on the regular income of corporations, certain passive income, including additional allowable deductions from Gross Income of persons engaged in Business or Practice of Profession
- Description of entities and their corresponding changes in rates and dates of effectivity
- Proprietary Educational Institutions
- Proprietary Hospitals
- Regional Operating Headquarters
- IT rates on different passive income
- Exemption of intercorporate foreign-sourced dividends subject to conditions
- Repeal of Improperly Accumulated Earnings Tax
- Allowable Deduction for Business Persons
- Non-recognition of Gain or Loss on Exchange of Property
RESOURCE SPEAKER – Ms. Rhodora Icaranom
- Ms. Rhodora G. Icaranom is the former Revenue District Officer(RDO) of the Bureau of Internal Revenue. Her tax experience was mostly spent in the Financial District Makati where she was assigned as Asst. Revenue District Officer for almost nine years. She had a one-year stint in the Large Taxpayers’ Division as Head of the Banks and Financial Intermediaries.
- In her career with the tax authority she received a distinguished award on the nationwide BIR search for Outstanding Group Supervisor-Centennial Year during the BIR’s Centennial Celebration in 2004 for her consistent exemplary performance in Audit and Tax Collection being the Head of the Special Task Force in Manila Region. As a member of the BIR Pool of Speakers, she was a regular lecturer of BIR in various tax topics usually focused on updates. At the same time, she is an accredited PICPA speaker in the PICPA National office and various regions for the last two decades. She is also a former professor of Accounting at the De La Salle University.
- During her years of tax service in the government, she attended various trainings held by BIR, some of which were sponsored by Germany, Japan, US and by the big Auditing Firms. In November 2012, she was sent to a month-long training and conference for International Taxation on a Senior Executive Program in Tokyo, Japan sponsored by JICA. Subsequently in October 2015, she also represented BIR for the International Taxation on Financial Instruments in Kuala Lumpur, Malaysia sponsored by Malaysian Internal Revenue Authority and International Bureau of Fiscal Documentation IBFD of London.
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₱1,499.00 + VAT
The CREATE Law and Its Implementing Rules - with Sample Computations
₱1,499.00 + VAT