On Nov. 26, 2020, the Senate approved on third and final reading Senate Bill 1357, otherwise known as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, which seeks to reduce the corporate income tax rate and rationalize the current fiscal incentives by making them time-bound, targeted and performance-based. This was done in an attempt to revitalize the slowing economy, as it is predicted that the measure will bring in more foreign investments like never before.
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Financial reporting in the time of CREATE
From Where We Sit
Learning from Federer’s new playbook
From Where We Sit
We are just three weeks away from the US Open, the fourth and last Grand Slam tennis tournament for 2017.
Making your financial statements an effective communication tool
From Where We Sit
Going through audited financial statements nowadays is like reading through a long technical paper. It has become more difficult for management to prepare, more cumbersome for auditors to audit, and more complicated for users to understand for their management and investment decisions.