SGV Indirect Tax (IDT) Principal Atty. Alden C. Labaguis and IDT Associate Directors Atty. Lauren Antonette M. Mendoza and Atty. Kierk Robin M. Ret were speakers at the recently held PortCalls: Understanding CREATE MORE Bill with VAT Exemption + Ease of Paying Taxes Act Seminar at Citadines Bay City in Manila. Approximately 80 participants and representatives from various importers and logistics companies in the Philippines attended the event.
Atty. Lauren discusses EOPT Act tax updates
Atty. Lauren opened the discussion on the Ease of Paying Taxes (EOPT) Act, where she highlighted the important changes and developments in the payment of taxes. She also discussed the potential implications of the issuance of Revenue Memorandum Circular (RMC) No. 5-2024, particularly in light of the Supreme Court ruling on Aces Philippines Cellular Satellite Corp. vs. Commissioner of Internal Revenue (G.R. No. 226680 dated 30 August 2022).
Atty. Kierk discusses proposed CREATE MORE Bill amendments
Atty. Kierk focused his discussion on the salient provisions of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Bill. He highlighted the proposed amendments on income tax rates, enhanced deductions, and value-added tax.
The seminar concluded with an open forum, where the participants addressed their questions to Atty. Alden and the speakers.
IDT Senior Associates Atty. Andrea Nicole C. Loreno and Atty. Natividad G. Busa were part of the SGV coordinating team.
