Tag Archives: tax incentives
Swap and Save — Tax-Free Exchange in the Philippines Under the CREATE Act
Unlock business growth without the tax burden. Thanks to the CREATE Law, corporations can now restructure or expand through tax-free exchanges—no income tax, capital gains tax, VAT, or DST on qualifying transactions. This streamlined process allows companies to preserve capital, boost efficiency, and reinvest in innovation. Discover how tax-free exchanges work, when they apply, and how AJA Law can help you execute them smoothly and compliantly.
Promoting a Green Economy through Green Tax Incentives
In 2016, the Philippines took a significant step towards sustainable development with the passage of Republic Act No. 10771 or the Philippine Green Jobs Act. This groundbreaking legislation promotes the creation of green jobs by providing tax incentives to businesses which contribute to environmental sustainability in economic development.
In line with this, the Bureau of Internal Revenue (BIR) issued Revenue Regulation 05-2019 specifying tax deductions and incentives for businesses offering green jobs and eco-friendly practices. In addition, the Bureau of Customs (BOC) is also mandated to exempt the importation of capital equipment used in the promotion of green jobs from payment of duties and taxes.