PEZA official highlights CREATE law reforms at Deloitte tax summit

Taguig City, Philippines – Atty. Ross Vincent Sy, Manager of the Enterprise Regulations and Support Services Group (ERSSG) of the Philippine Economic Zone Authority (PEZA), participated as a panelist in the inaugural Deloitte Tax Summit on November 19, 2024, at Shangri-La The Fort, Bonifacio Global City, Taguig.

In the panel discussion, Atty. Sy discussed PEZA's efforts to address tax concerns, particularly uncertainties introduced by the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. He outlined PEZA’s contributions during the legislative process, beginning with the TRAIN II Bill and continuing through the development of the CREATE and CREATE MORE Acts. These reforms have since provided more favorable conditions for foreign investors.

Atty. Sy also shared PEZA's work in supporting Registered Business Enterprises (RBEs), with a particular focus on the IT-BPM sector. He explained how PEZA has tackled issues surrounding work-from-home arrangements and tax incentives during the sunset period, emphasizing the agency’s role in maintaining an investor-friendly environment.

Other panelists included Director General Rodelio Dascil of the Senate Tax Study and Research Office, Executive Director Mark Lester Aure of the National Tax Research Center, Muntinlupa City Treasurer Erwin P. Vibora, and IT and Business Process Association of the Philippines COO Celeste Ilagan.

The Deloitte Philippines Tax Summit attracted over 400 participants, including policymakers, industry leaders, and tax experts. The event aimed to provide businesses with insights on navigating the evolving tax landscape amidst local and global reforms.