Investor guide · RA 12066
CREATE MORE Law: a foreign investor's guide to Philippine tax incentives (RA 12066)
Income tax holidays, a 5% special rate or enhanced deductions, and VAT and duty relief for registered Philippine business enterprises, explained for a foreign investor. Every figure carries a badge showing how well we could verify it.
In short
The summary
- Up to 27 yrs Maximum incentive period: FIRB bracket: 7 ITH + 20 post-ITH; bonus years can add more. Verified[1]
- 5% SCIT rate for exporters: Of gross income, in lieu of national and local taxes. Verified[1]
- 0% VAT on local purchases by exporters: Registered export enterprises. Verified[1, 3]
- 20 working days IPA decision time: One extension of up to 20 days. Verified[1]
- US$7.79B FDI net inflows 2025: BSP; a five-year low. Verified[19]
- PHP 260.9B PEZA approvals 2025: 314 projects. Verified[21]
Badges: Verified Per seminar deck Unverified Our analysis Approximate
Who should apply
Exporters
At least 70% of output exported. Can take the 5% SCIT on gross income after the income tax holiday, plus 0% VAT on local purchases and duty-free project imports.
Domestic-market builders
Serving the Philippine market. Income tax holiday first, then the enhanced deduction regime (EDR) at 20% on taxable income after enhanced deductions. SCIT is not available.
Verified[1]
Relocating out of Metro Manila
Three bonus ITH years for fully relocating out of NCR, plus two in conflict or disaster areas, subject to the ITH cap. Regional locations also start from a longer base holiday.
Verified[1] Unverified
Persona groupings are our reading of the statute, not an official classification.
Process
How it works in four steps
Check the SIPP
Your activity must be on the Strategic Investment Priority Plan. Projects not listed are automatically disapproved, and the plan is valid for three years.
Get approved by the right body
Capital up to PHP 15B goes to the investment promotion agency (PEZA, BOI and others). Above that, the Fiscal Incentives Review Board decides. The agency has 20 working days, extendable once by up to 20 more.
Verified[1]
Register
Register the project as a business enterprise with the agency. Registration fixes the tier, location bracket and incentive period that apply to you.
Our analysis
Avail and report
Claim the incentives in your returns and file the annual reports. For taxable years ending 31 Dec 2026 onward, a notarized summary report is mandatory.
Approval brackets
Who approves you, and for how long
Capital invested decides the approving body and the post-holiday window.
| Bracket | Capital | ITH | Then | Total | Status |
|---|---|---|---|---|---|
| Investment promotion agency (PEZA, BOI, etc.)Decision within 20 working days, one extension of up to 20 more (Sec. 297-A). | Up to and including PHP 15 billion | 4-7 | 10 years SCIT or EDR (export) / 10 years EDR (domestic) | 14-17 years | Verified[1, 3] |
| Fiscal Incentives Review Board (FIRB)Same ITH years as the IPA bracket, then 20 post-ITH years (Sec. 296-A). | Above PHP 15 billion | 4-7 | 20 years SCIT/EDR (export) / 20 years EDR (domestic and high-value DME) | 24-27 years | Verified[1] |
| President (Sec. 301)Details of the Certificate of Entitlement mechanism were not verified. | At least PHP 50 billion or at least 10,000 direct local jobs within 3 years | Negotiated | Extensions only for projects with at least 10,000 direct local employees, capped at 5 years (Sec. 296) or 10 years (Sec. 296-A) | Beyond the FIRB schedule | Verified[1] |
| High-value domestic market enterprise (DME)Definition in Sec. 293(J). | Capital above PHP 15 billion, or export sales of at least US$100 million in the prior year | 4-7 | EDR only; 0% VAT on local purchases and import exemption | As per approving bracket | Verified[1, 3] |
The incentives
What you actually get
Income tax holiday (years), by tier and location Verified[1, 15]
| SIPP tier | NCR | Metro / contiguous | All other areas |
|---|---|---|---|
| Tier I | 4 yrs | 5 yrs | 6 yrs |
| Tier II | 5 yrs | 6 yrs | 7 yrs |
| Tier III | 6 yrs | 7 yrs | 7 yrs |
Bonus: +3 years for fully relocating out of NCR, +2 in conflict or disaster areas, capped at 8 years. Unverified[1, 15] +3 / +2 bonus years are in the statute (Sec. 296). The 8-year ITH cap and 40-year total cap come from one secondary source (ASEAN Briefing) and were not found in the statute extraction.
SCIT versus EDR
| Feature | 5% SCIT | EDR | Status |
|---|---|---|---|
| Who can use it | Export enterprises only (at least 70% of annual output exported) | Export enterprises and domestic market enterprises | Verified[1, 3] |
| Tax basis | 5% of gross income earned | 20% of taxable income after enhanced deductions | Verified[1, 2] |
| Replaces | All national and local taxes | Regular 25% CIT only; a local tax of up to 2% of gross income (RBELT) can still apply | Verified[1] |
| Deductions | None (gross-income based) | Eight enhanced deductions, including 100% additional on power | Verified[1, 6] |
| Switching | Choice is irrevocable; cannot be combined with EDR | Cannot be granted at the same time as SCIT. A domestic market enterprise may elect EDR from the start of commercial operations | Verified[3] |
| Compliance | Standard registration reporting | Substantiation plus a Notarized Comprehensive Summary Report from taxable years ending 31 Dec 2026; related-party deductions disallowed unless arm's length | Verified[6, 8] |
| MCIT | Not applicable | MCIT applies if it exceeds the regular tax computed after enhanced deductions (rate not verified) | Unverified[6] |
Enhanced deductions (EDR) Unverified
| Deduction | Extra | Note | Status |
|---|---|---|---|
| Additional depreciation: buildings | 10% | 10% additional allowance. Rests on secondary sources; verify against Sec. 294(C). | Unverified[6, 9] |
| Additional depreciation: machinery and equipment | 20% | 20% additional allowance. Rests on secondary sources; verify against Sec. 294(C). | Unverified[6, 9] |
| Research and development (local spend, approved proposal) | 100% | 100% additional deduction. Secondary sources only. | Unverified[6, 9] |
| Training (IPA-approved, direct Filipino employees) | 100% | 100% additional deduction. Secondary sources only. | Unverified[6, 9] |
| Power expense (actual electricity cost, registered operations) | 100% | 100% additional deduction, i.e. 200% in total; raised from 50% under CREATE. Confirmed in statute and DOF Order 026-2026. | Verified[1, 6] |
| Labor expense (direct local employees in registered activity) | 50% | 50% additional deduction. Secondary sources only. | Unverified[6, 9] |
| Domestic input expense (needs at least 50% value-addition) | 50% | 50% additional deduction; notarized summary required. Secondary sources only. | Unverified[6, 9] |
| Reinvestment allowance (manufacturing, tourism) | 50% | Up to 50% of the amount reinvested within 5 years; availment ends 31 Dec 2034. The calculator drops this deduction for calendar years after 2034. | Verified[1, 6] |
| Trade fairs and missions (IPA-approved export promotion) | 50% | 50% additional deduction. Not modelled in the calculator. | Verified[1, 6] |
| Enhanced NOLCO | 0% | Losses of the first 3 years of operations may be carried over for 5 years after the ITH ends. Not modelled. | Verified[1, 6] |
VAT, duties and other taxes
| Item | Treatment | Status |
|---|---|---|
| Imports directly attributable to the registered project | Import VAT and duty exemption (Sec. 294(D)-(E)); PEZA MC 2025-052 lists goods deemed directly attributable | Verified[1, 11] |
| Local purchases by registered export enterprises | 0% VAT regardless of location | Verified[1, 3] |
| Local purchases by high-value DMEs | 0% VAT and import exemption | Verified[3] |
| Sales to ordinary DMEs | 12% VAT unless otherwise exempt | Verified[1] |
| Resale of VAT-exempt imported assets | 0% if the buyer is an export enterprise; 12% on net book value if the seller is a DME and the buyer is not. Disposal needs IPA approval in the first 5 years; unapproved disposal triggers solidary liability for twice the exemption (Sec. 295(C)) | Verified[1] |
| VAT refunds | Commissioner to grant or deny within 90 days of complete documents (Sec. 112(C)); reconsideration 15 days; CTA appeal within 30 days. BIR guidance cited: RR 10-2025 and RMC 32-2025 | Verified[1, 12] |
| Zero-rating certification | Issued by the IPA, subject to BIR post-audit | Verified[12, 11] |
| Registered Business Enterprise Local Tax (RBELT) | Not more than 2% of gross income for RBEs in ITH or EDR; not imposed under SCIT (Sec. 294(F)) | Verified[1] |
| Dividends and branch profits | Sources conflict: 25% final on dividends to non-resident foreign corporations, reducible to 15% under tax-sparing or treaty; 15% branch profit remittance tax with possible exemption for registered activities. Not resolved | Unverified[10] |
Local taxes. A registered business enterprise pays local business tax capped at 2% of gross income (RBE local tax), and under SCIT the 5% replaces national and local taxes. Verified[1, 5, 2]
Live calculator
Estimate your tax savings
Illustrative arithmetic on your own assumptions. It compares the regular 25% tax with the incentive path year by year. It is not tax advice and does not model every rule.
Worked example Our analysis
Worked example: Tier I, all other areas, export enterprise, SCIT. Gross income ₱300M, net income ₱150M, investment ₱5B, 16 years.
| Phase | Years | Regular tax per year | Incentive tax per year | Saved over phase |
|---|---|---|---|---|
| Income tax holiday | 6 | ₱37.5M | ₱0 | ₱225M |
| 5% SCIT | 10 | ₱37.5M | ₱15M | ₱225M |
| Total | 16 | ₱600M total | ₱150M total | ₱450M (75%) |
Illustrative arithmetic at 25% CIT on PHP 150M net income for 16 years (PHP 600M) versus 5% of PHP 300M gross income for the 10 SCIT years (PHP 150M); ITH years pay nothing. Turn on JavaScript to change the assumptions.
Results
—
— lower than the regular tax over — years
- Regular tax
- —
- With incentives
- —
- Present value of savings
- —
- Effective rate
- —
- Income tax holiday
- —
- Then (SCIT)
- —
Cumulative tax: regular versus incentive path
Year-by-year schedule
| Year | Phase | Regular tax | With incentives | Saving | Cumulative saving |
|---|
Reinvestment allowance only counts for years up to 2034. Illustrative arithmetic, not tax advice. Our analysis
Which activities qualify
Sectors and SIPP tiers
Two different things are shown separately. 'Official 2026 SIPP' is the 2026 Strategic Investment Priority Plan (DTI/BOI Memorandum Order No. 47, s. 2026) as described by two published summaries that themselves differ; we did not read the order itself. 'Seminar deck examples' are the sector examples shown in the seminar slides and are NOT confirmed against the 2026 SIPP.
Official 2026 SIPP (MO 47, signed 21 May 2026, released 2 Jun 2026) Unverified[16, 17]
Tier I
Summary A: Agriculture, fishery and forestry; manufacturing; halal, kosher and organic activities; services; health care and disaster risk reduction; infrastructure, logistics and energy; waste, water and climate projects. [16]
Summary B: Agriculture, value-adding manufacturing, healthcare, IT-BPM, aircraft MRO, environmental infrastructure. [17]
Also covered: export activities, special-law activities, area-specific priorities. Tourism is registered through TIEZA (34 projects worth PHP 14.5B registered under CREATE and CREATE MORE since 2021). The SIPP is valid for 3 years subject to review; projects not listed are automatically disapproved (Sec. 300). Verified
Examples from the seminar deck (not confirmed against the 2026 SIPP) Per seminar deck
Tier I
- Semiconductors and electronics
- Pharmaceuticals
- Processed food
Tier II
- Desalination
- Sustainable aviation
Tier III
- Highly technical advanced manufacturing
These may reflect the 2022 SIPP (MO 61) or the 2024 amendment rather than MO 47. Check the activity code in the current SIPP before relying on a tier.
Sector context
- Philippine AI+ Infrastructure Masterplan 2026-2033: US$34.4B needed, about 1.5 GW of data-center capacity targeted by 2033 Verified[38]
- BOI approvals 2025: energy PHP 970.09B, mass housing PHP 241.65B, transport and storage PHP 230.06B Verified[22]
- PEZA H1 2026: electronics led, then ecozone development, then IT-BPM Verified[23]
Where to locate
Locations and hot spots
Location sets your holiday length: NCR is shortest, the metro and contiguous list is in the middle, and everywhere else gets the longest.
Hot-spot corridors
Metro Manila / NCR
Subway partial operations are reported for 2027, 2028 or 2032 depending on the source (unverified). NSCR Valenzuela-Malolos phase targeted for late 2027 and the Clark extension for 2H 2028. Unverified[34]
Calamba / Santa Rosa / Biñan / Cabuyao, Laguna
The LGUs are named in the TIEZA list. PLDT's 11th data center, a PHP 5B build, is in Laguna. Verified[13]
Dasmariñas / Imus / Bacoor, Cavite
Average Cavite lot prices reached about PHP 20,000/sqm (sale) at end-2025. CALAx status not found. Unverified[37]
Cainta / Antipolo / Taytay, Rizal
BOI is assisting Singapore's SpaceDC on a US$700M data center in Cainta (Sept 2025). Verified[35]
Meycauayan / San Jose del Monte, Bulacan
Named in the TIEZA list. NSCR phase 1 ends at Malolos, Bulacan. Verified[34]
Silang / Tagaytay uplands, Cavite
No sourced facts found. Unverified
Batangas (port, LIMA, Lipa)
A Batangas ecozone development was among two new ecozone projects worth PHP 5.9B combined in H1 2026. LIMA specifics not found in this research. Verified[36]
Clark Freeport / New Clark City, Pampanga-Tarlac
BCDA reported PHP 49.96B in approved investments in H1 2026; investors named include Lufthansa Technik Philippines, FedEx and UPS, with an AI hub planned. A US$2.7B hyperscale campus is cited for New Clark City. Verified[33]
Subic Bay Freeport, Zambales
The Luzon Economic Corridor links Subic, Clark, Manila and Batangas. No Subic-specific figure found. Verified[36]
Bataan (Mariveles, FAB)
No sourced facts found. Unverified
Metro Cebu: Cebu IT Park, Mactan (Lapu-Lapu)
A US$200M nitrile glove project (South Luzon and Cebu, 2,000 jobs) and a Cebu export manufacturing venture are in PEZA's 2026 pipeline. Whether Mactan counts as metro is unclear. Verified[36]
Metro Davao
Named in the TIEZA list. No sourced investment facts found. Unverified[13]
Cagayan de Oro / Misamis (PHIVIDEC)
A Misamis Occidental ecozone was among the two new ecozones worth PHP 5.9B in H1 2026. PHIVIDEC specifics not found. Verified[36]
Iloilo
No sourced facts found. Unverified
City bracket list
| City | Province | Bracket | Status |
|---|---|---|---|
| Manila | Metro Manila (NCR) | NCR | Verified |
| Quezon City | Metro Manila (NCR) | NCR | Verified |
| Makati | Metro Manila (NCR) | NCR | Verified |
| Taguig (incl. BGC) | Metro Manila (NCR) | NCR | Verified |
| Pasig | Metro Manila (NCR) | NCR | Verified |
| Mandaluyong | Metro Manila (NCR) | NCR | Verified |
| San Juan | Metro Manila (NCR) | NCR | Verified |
| Marikina | Metro Manila (NCR) | NCR | Verified |
| Caloocan | Metro Manila (NCR) | NCR | Verified |
| Malabon | Metro Manila (NCR) | NCR | Verified |
| Navotas | Metro Manila (NCR) | NCR | Verified |
| Valenzuela | Metro Manila (NCR) | NCR | Verified |
| Las Piñas | Metro Manila (NCR) | NCR | Verified |
| Muntinlupa | Metro Manila (NCR) | NCR | Verified |
| Parañaque | Metro Manila (NCR) | NCR | Verified |
| Pasay | Metro Manila (NCR) | NCR | Verified |
| Pateros | Metro Manila (NCR) | NCR | Verified |
| Meycauayan | Bulacan | Metro / contiguous | Unverified |
| San Jose del Monte | Bulacan | Metro / contiguous | Unverified |
| Bacoor | Cavite | Metro / contiguous | Unverified |
| Dasmariñas | Cavite | Metro / contiguous | Unverified |
| Imus | Cavite | Metro / contiguous | Unverified |
| Biñan | Laguna | Metro / contiguous | Unverified |
| Cabuyao | Laguna | Metro / contiguous | Unverified |
| Calamba | Laguna | Metro / contiguous | Unverified |
| Santa Rosa | Laguna | Metro / contiguous | Unverified |
| Antipolo | Rizal | Metro / contiguous | Unverified |
| Cainta | Rizal | Metro / contiguous | Unverified |
| Taytay | Rizal | Metro / contiguous | Unverified |
| San Pedro | Laguna | Metro / contiguous | Unverified |
| Metro Cebu (Cebu City, Mandaue, Lapu-Lapu, others) | Cebu | Metro / contiguous | Unverified |
| Metro Davao | Davao del Sur | Metro / contiguous | Unverified |
| Lipa / Batangas City | Batangas | All other areas | Our analysis |
| Clark / New Clark City | Pampanga / Tarlac | All other areas | Our analysis |
| Subic Bay Freeport | Zambales | All other areas | Our analysis |
| Mariveles | Bataan | All other areas | Our analysis |
| Silang / Tagaytay uplands | Cavite | All other areas | Unverified |
| Cagayan de Oro | Misamis Oriental | All other areas | Our analysis |
| Iloilo City | Iloilo | All other areas | Our analysis |
The metro list comes from TIEZA and secondary sources, not the IRR text. See the discrepancies below.
By the numbers
Investment dashboard
Data table
| Year | US$ bn | Note |
|---|---|---|
| 2023 | 8.925 | preliminary Verified |
| 2024 | 9.398 | revised Verified |
| 2025 | 7.791 | five-year low, above the BSP's US$7B projection Verified |
Data table
| Year | PHP bn | Note |
|---|---|---|
| 2023 | 175.709 | Verified |
| 2024 | 214 | about; omitted from the chart Unverified |
| 2025 | 260.89 | 314 projects, 78,741 jobs Verified |
2024 is left off the chart because we could not verify it. H1 2026: PHP 140.69B against a 300B target. Verified[23]
Data table
| Country | Rate | Note |
|---|---|---|
| Singapore | 17% | Verified |
| Thailand | 20% | Verified |
| Vietnam | 20% | Top-up tax to a 15% minimum for large multinationals. Verified |
| Indonesia | 22% | Single source. Verified |
| Malaysia | 24% | Verified |
| Philippines | 25% | Single-source for the ASEAN comparison; 25% regular rate confirmed in law summaries. Verified |
| Philippines, export enterprise under SCIT | 5% of gross | 5% of gross income, not comparable with a headline rate on profit. Verified |
The 5% SCIT applies to gross income, so it is not directly comparable with the headline rates, which apply to profit.
Incentive years heatmap
Income tax holiday years Verified
Total years, IPA bracket (ITH + 10) Verified
Total years, FIRB bracket (ITH + 20) Verified
Before any relocation or conflict-area bonus years.
Who is investing
Source economies and investor profiles
PSA Q4 2025 foreign approvals
- Netherlands: PHP 33.05B
- Japan: PHP 17.88B
- Singapore: PHP 17.66B
Verified[27]
- Full-year 2025 country ranking is not available. Unverified
- Full foreign ownership of telecom and data centers is now allowed (TechRepublic report). Verified[38]
Which incentives fit which profile
| Profile | Most relevant | Status |
|---|---|---|
| Electronics and semiconductor | 5% SCIT, duty-free imports, ITH | Our analysis |
| Data centers | ITH, VAT zero-rating, power-cost deduction | Our analysis |
| Renewable energy | BOI energy incentives | Our analysis |
| BPO / global business services | SCIT or enhanced deductions | Our analysis |
| Tourism | TIEZA registration | Our analysis |
The profile-to-incentive mapping is our analysis, not a published finding.
Key dates
Timeline
CREATE Act (RA 11534) enacted Per seminar deck
Taken from the seminar deck; not re-sourced.
Law takes effect Verified[30]
FIRB interim IRR (Advisory 007-2024) Verified[31]
BIR RR 10-2025 on VAT (numbering conflicts across sources) Unverified[12]
BIR RMC 42-2025 circularizes the IRR Verified[7]
2026 SIPP (MO 47) signed / released Verified[16]
FIRB Advisory 010-2026 circularizes DOF Order 026-2026 (EDR terms) Verified[6]
Read before you rely on it
Risks and caveats
- Incentives are discretionary and registration-specific. Your certificate, not this page, defines what you get.
- SIPP tiers, the metro list and enhanced-deduction percentages change by issuance. Confirm each with the approving agency.
- Reporting duties are real: missing the annual summary report can put incentives at risk.
- Domestic-market projects cannot use the 5% SCIT.
These bullets are our general caution. Our analysis
Discrepancies and open questions
Where sources or the seminar deck disagree, or we could not confirm a point, we list it here instead of picking a side.
- 20% versus 25% corporate income tax Verified[1, 5]
The deck's EDR example used 20%. That is the EDR rate for registered enterprises; the regular rate is 25%. A PHP 30M baseline at 20% becomes PHP 37.5M at 25%, and EDR tax is PHP 10M against it. - SCIT is for export enterprises only Verified[1, 3]
The deck glossary implies SCIT is generally available. Under the statute, domestic market enterprises get ITH plus EDR only, and the calculator forces EDR for them. - Deck tier examples not confirmed against the 2026 SIPP Unverified[16, 17, 41]
The deck's sector examples may reflect the 2022 SIPP (MO 61) or the 2024 amendment. Two summaries of the 2026 SIPP (MO 47) also differ from each other. Check the activity code in the order itself. - Metro and contiguous area list Unverified[13]
The list comes from the TIEZA FAQ and secondary sources, not the IRR text. San Pedro (Laguna) is on the TIEZA list but is missing from some working lists, and whether Mactan counts as Metro Cebu is unclear. - Domestic market enterprise post-ITH period: 10 years or 5 Unverified[1, 3, 15, 4]
The statute text and Forvis Mazars say 10 years of EDR after the ITH. ASEAN Briefing says 5 years. We follow the statute; one BDB summary also shows a '9-14 years' figure that looks like a mislabel. - Signing date: 8 or 11 November 2024 Unverified[28, 29, 1]
Sources conflict (Conventus Law: 11 Nov; PortCalls: 8 Nov; our statute extraction: 8 Nov). - Enhanced deduction percentages Unverified[1, 6, 9]
Power (100% additional), reinvestment (up to 50%) and trade fairs (50%) are confirmed in the statute. The 10%/20% depreciation, 100% R&D, 100% training, 50% labor and 50% domestic-input figures rest on secondary sources; verify against Sec. 294(C). - ITH cap of 8 years and 40-year total Unverified[15]
One secondary source states them; we did not find them in the statute extraction. The calculator applies the 8-year cap as an assumption. - Dividend withholding tax and branch profit tax Unverified[10]
Secondary descriptions conflict: 25% versus 15% on dividends, and whether registered-activity profits are exempt from the branch profit remittance tax. Not resolved; take tax advice. - Infrastructure dates Unverified[34]
Metro Manila Subway partial operations are reported as 2028, 2032, or Q4 2027 depending on the source. These dates are not verified, and land prices are omitted because no credible consultant publishes them for specific parks.
Questions
FAQ
What is the CREATE MORE Act?
How long can incentives last?
Is the 5% SCIT available to domestic-market companies?
Who approves the registration?
Does location change the incentive?
What is the difference between SCIT and EDR?
What new compliance applies from 2026?
Is this legal or tax advice?
Sources
Sources, credits and disclaimer
Disclaimer. Independent summary, not legal or tax advice. Built from statute text and published commentary; items marked Unverified or Per seminar deck have not been confirmed against primary sources.
- RA 12066 statute text (Lawphil) accessed 20 Oct 2026
- Grant Thornton Philippines: The CREATE MORE Act (RA 12066) accessed 20 Oct 2026
- Forvis Mazars Philippines: CREATE MORE Act tax alert accessed 20 Oct 2026
- BDB Law: CREATE MORE summary (PDF) accessed 20 Oct 2026
- Batas Natin: resident foreign corporation tax, Sec. 28(A) under CREATE accessed 20 Oct 2026
- Grant Thornton: DOF Department Order 026-2026 (Enhanced Deduction Regime) accessed 20 Oct 2026
- KPMG Philippines: Special InTax, March 2025 accessed 20 Oct 2026
- KPMG Philippines: Special InTax, August 2026 accessed 20 Oct 2026
- NDV Law: enhanced deductions regime accessed 20 Oct 2026
- PwC Tax Summaries: Philippines withholding taxes accessed 20 Oct 2026
- PwC Philippines: But wait, there is more for exporters under CREATE MORE accessed 20 Oct 2026
- Philstar: Simplifying VAT refunds under CREATE MORE (6 May 2025) accessed 20 Oct 2026
- TIEZA FAQ: fiscal incentives for TIEZA-registered enterprises (metro/contiguous LGU list) accessed 20 Oct 2026
- DOE slide deck: Registration Procedure under the CREATE Law accessed 20 Oct 2026
- ASEAN Briefing: How location affects tax incentives in the Philippines (19 Aug 2026) accessed 20 Oct 2026
- Philstar: Marcos OKs 2026 investment promotion blueprint (3 Jun 2026) accessed 20 Oct 2026
- Ocampo & Suralvo: BOI approves the 2026 SIPP (30 Jul 2026) accessed 20 Oct 2026
- PIDS: FDI net inflows inch up 0.1% in 2024 accessed 20 Oct 2026
- Philstar: FDI inflows fall to five-year low (12 Mar 2026) accessed 20 Oct 2026
- Tribune: PEZA secures P19.5B approved investments (14 Dec 2023) accessed 20 Oct 2026
- Philstar: PEZA investment approvals hit P261 billion (25 Dec 2025) accessed 20 Oct 2026
- PortCalls: BOI-approved investments in 2025 reach P1.56T accessed 20 Oct 2026
- PortCalls: PEZA approved investments almost double to P140B in H1 2026 accessed 20 Oct 2026
- Grant Thornton Vietnam: ASEAN Tax Guide 2026 (PDF) accessed 20 Oct 2026
- Trading Economics: Singapore corporate tax rate accessed 20 Oct 2026
- TaxAtlas: Vietnam corporate tax accessed 20 Oct 2026
- Tribune: Approved foreign investments hit P10.3B in Q4 2025 accessed 20 Oct 2026
- Conventus Law: RA 12066 signed 11 Nov 2024 accessed 20 Oct 2026
- PortCalls: CREATE MORE IRR signed (cites 8 Nov 2024 signing) accessed 20 Oct 2026
- Grant Thornton: BIR suspends audits from 16 Dec 2024 (cites 27 Nov 2024 effectivity) accessed 20 Oct 2026
- SunStar: Interim IRR on availment of incentives accessed 20 Oct 2026
- Baker McKenzie: DOF and DTI jointly issue the CREATE MORE IRR accessed 20 Oct 2026
- Context.ph: BCDA sees P100B investment surge in 2026 accessed 20 Oct 2026
- Context.ph: NSCR timeline accessed 20 Oct 2026
- Malaya: BOI sees multi-billion peso data center investments accessed 20 Oct 2026
- Philstar: Ecozone investments nearly double in H1 2026 (30 Jun 2026) accessed 20 Oct 2026
- Inquirer Plus: Cavite lot prices accessed 20 Oct 2026
- TechRepublic: Philippines AI infrastructure timeline and data centers accessed 20 Oct 2026
- Context.ph: TIEZA sees tourism investment surge in Q4 accessed 20 Oct 2026
- Philstar: US firms exploring IT, logistics investments in ecozones accessed 20 Oct 2026
- Supreme Court E-Library: 2022 SIPP (MO 61) accessed 20 Oct 2026
- Context.ph: Skyway-NLEX Connector 2027 accessed 20 Oct 2026
- Philippine Statistics Authority (via PortCalls): PSA approved foreign investments 2025 accessed 20 Oct 2026
Photos are credited in their captions and are illustrative of the places named. The semiconductor image is non-Philippine stock.
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