Makati City: The Department of Trade and Industry (DTI), through its Export Marketing Bureau, has awarded the first batch of Export-Oriented Enterprise (EOE) certificates to four companies that have met the 70-percent export sales threshold under the Republic Act 12066, also known as the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. This development marks a significant step in the government’s efforts to bolster export activities in the country.
According to Philippines News Agency, the first recipients of the EOE certificates include Dole Philippines, Inc., Philsaga Mining Corp., Krystle Exports Phil., Inc., and Bosch Service Solutions, Inc. These companies are now entitled to benefit from value-added tax (VAT) zero rating on local purchases, along with VAT-exempt importation of goods that are directly linked to their export operations. These tax advantages are valid for one taxable year and were granted following the companies’ successful compliance with specific provisions of the CREATE MORE Act.
‘They are a clear signal that the Philippine government is serious about supporting our exporters by improving our business environment,’ stated DTI Undersecretary Ceferino Rodolfo during the awarding ceremony held in Makati City. Dole Philippines is renowned for exporting fresh and processed pineapples, operating in both Mindanao and Luzon. Philsaga Mining Corp. manages the underground Coo Gold Mine in Agusan del Sur, producing gold and silver dor©. Krystle Exports Phil., Inc. distributes well-known Filipino brands across the US, Middle East, and Asia, while Bosch Service Solutions, part of the global Bosch Group, offers customer experience and business process outsourcing services.
Rodolfo added that ‘The CREATE MORE Act restores and enhances critical tax incentives that reduce the cost of doing business and allow exporters to invest in innovation, sustainability, and growth.’ The CREATE MORE Act requires the DTI to certify exporters who achieve at least 70 percent of their sales from exports. Certified firms can avail themselves of VAT-related benefits without the necessity to register under investment promotion agencies (IPA), which is particularly advantageous for enterprises whose IPA incentives have expired.
In the same event, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go announced that the government plans to conduct CREATE MORE roadshows in various regions, including the United States, Japan, China, the Middle East, and the European Union. ‘The goal is to make the message clear that the Philippines is open for business and is the next economic superstar in Southeast Asia,’ Go emphasized.
