00:00The new CREATE MORE Act may bring about a big change and ease the lives of Filipinos, according to some senators.
00:09Here's Daniel Manalastax's report.
00:13More jobs and more investors.
00:18This is what some senators believe will be the fruit of the CREATE MORE Act.
00:23President Ferdinand R. Marcos Jr. has already signed the law.
00:27Senate President Francis Escudero said that the CREATE MORE Act is intended to encourage investors to move to the Philippines.
00:35Under the new law, it will simplify the system of value-added tax provisions in the law, particularly the process of VAT refund claims.
00:45Escudero said that this is part of their promise to the Senate to ease the lives of Filipinos.
00:51According to Senator Sherwin Gatchalian, through the CREATE MORE Act, projects and activities that have a great impact on the country, such as food security and others, will be supported.
01:03Our new investors will benefit because the incentives we will give them when they invest in our country will be wider and longer.
01:16Senator Juan Miguel Zubiri believes that the CREATE MORE Act will cut the red tape in the investment sector.
01:23The senator explained that they want to simplify the process of VAT refunds.
01:28Because if current investors lose billions in the Philippines, they will leave.
01:35CREATE MORE will address these problems.
01:38Daniel Manalastax for Pambansang TV in Bagong, Philippines.
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