Last June 3,2021 RT&Co.’s tax principal Atty. Sheryl Tizon-Lalucis (STL) in partnership with the Subdivision and Housing Developers Association (SHDA), and with host and moderator, entrepreneur and housing developer RJ Ledesma discussed the effects of CREATE and whether the new tax law will be a burden or a benefit to the housing industry.
SHDA President Ms. May Rodriguez delivered the opening remarks for the event which was attended by 151 real time zoom participants
STL started the session with a brief overview of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) act and who or what the additional and amended provisions will impact within the industry. She continued the discussion by delving deeper into the VAT ceiling and exemptions within the new act and cited examples by using various case studies undergoing specific transactions to further relate the subject matter to the attendees.
For the second half of the webinar, STL tackled tax incentives and went into detail about the applicable rules for the grant of tax incentives. Mr. RJ Ledesma then proceeded to moderate through the open forum portion of the webinar where STL answered participant’s questions. Thereafter, SHDA Chairperson Rosie Tsai wrapped up the session with her closing remarks.