The Philippine American Chamber of Commerce, Inc. (PACC), in cooperation with the Philippine Consulate General in New York and the Philippine Department of Trade and Industry (DTI), conducted the second and third sessions of the webinar series on Philippine investment opportunities and tax developments. Tax Partner Margaux A. Advincula (MAA), Tax Principal Betheena C. Dizon (BCD), and Philippine Tax Desk Senior Manager Michelle Arias participated in the sessions titled Corporate Tax and Incentives under CREATE Act and Individual Taxation and Estate Tax Amnesty. Other participants included representatives from the PACC, the Philippine Consulate General in New York, the DTI Philippine Trade and Investment Center (PTIC), and investors to the Philippines.
MAA, BCD, and Michelle with other speakers at the webinar’s second sessionPACC President Aureo A. Sales delivered the opening remarks during the second session. Special Trade Representative Nicanor S. Bautista of the PTIC then provided a brief discussion on the economic relations between the Philippines and the United States of America amidst the COVID-19 pandemic. He also presented relevant data on the Philippines’ surging economy and enhanced viability as an investment ground.
Afterwards, Michelle discussed the corporate tax and incentives under the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act). She explained the Act’s salient features, particularly the adjustments in corporate tax and other taxes and the rationalization of fiscal incentives, as well as the enhanced fiscal and non-fiscal incentives provided by Philippine law to prospective investors.
BCD and Michelle with other speakers at the webinar’s third sessionThe third session began with opening remarks by PACC Chairman Michael Nierva and Political and Economic Officer of the Philippine Consulate General in New York Ricarte Abejuela III. BCD then led a discussion on the personal income tax regime under the Tax Reform for Acceleration and Inclusion (TRAIN) Law. She also talked about the important principles on estate tax amnesty in the Philippines, including its coverage, immunities and privileges, amnesty period, and exceptions.
PACC Executive Director Ledy Almadin was also present. MAA, BCD, Michelle, and Tax Senior Associates Maria Clara Theresa David and Albertson Otchengco were part of the webinars’ local organizing team.
