12 Projects Eligible for CREATE MORE Incentives - BOI

Twelve projects with a capital investment of over P15 billion each are qualified to transfer their registration to CREATE MORE for availment of enhanced tax incentives, according to the Board of Investments (BOI).

- By Brix Lelis

"These 12 projects are already registered under CREATE," said Trade Undersecretary Ceferino Rodolfo, head of the Investment Promotions Group overseeing the BOI, in a press conference yesterday.

CREATE MORE, which took effect last month, amends the CREATE Act, which was enacted in 2021 to provide economic relief to businesses affected by the pandemic and had previously introduced changes in the incentives system.

"The BOI is both an aggressive promoter of investments and a prudent administrator of fiscal incentives," Rodolfo said.

He said if the registration of the 12 projects is transferred to CREATE MORE, they would receive extended tax availment periods of four to seven years and an extended enhanced deduction period of 24 to 27 years.