Tax Notes: Amendments on the IRR of the Create Act

The Bureau of Internal Revenue (BIR) has outlined certain amendments on the Implementing Rules and Regulations (IRR) of Republic Act 11543 or the Corporate Recovery and Tax Incentives for Enterprises (Create) Act through Revenue Memorandum Circular (RMC) 120-2021. Among the significant changes introduced by the said RMC are as follows:

The provisions of the circular shall take effect immediately.


P&A Grant Thornton

Certified Public Accountants

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