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THE CORPORATE RECOVERY AND TAX INCENTIVES FOR ENTERPRISES (CREATE) ACT, OR REPUBLIC ACT NO. 11534

  The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, or Republic Act No. 11534, is a landmark legislation in the Philippines that significantly reformed the country's corporate income tax and fiscal incentive system. Signed into law on March 26, 2021, and effective April 11, 2021, CREATE is part of the broader Comprehensive Tax Reform Program (CTRP) aimed at making the Philippine economy more competitive and attractive to investments.   Key Objectives of CREATE Law: ·          Lower Corporate Income Tax (CIT) Rates: The primary objective was to reduce the CIT rates to bring them closer to the regional average in Southeast Asia. This was intended to provide relief to businesses, especially in the wake of the COVID-19 pandemic, and to make the Philippines a more appealing investment destination. ·          Rationalize Fiscal Incentives: Before CREATE, the Philippines had ...
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RULES ON ACCESSION (BUILDERS/PLANTERS/SOWERS)

In the Civil Code of the Philippines or Republic Act No. 386, there are provisions which govern the laws on property, this chapter discusses about ACCESSION which contains the provision of Builder/Planter/Sower (Article 440 to Article 475). In Accession (Article 440) , it states that, “The ownership of property gives the right by accession to everything which is produced thereby, or which is incorporated or attached thereto, either naturally or artificially.” Also, in Article 445 , “Whatever is built, planted or sown on the land of another, and the improvements or repairs made thereon, belong to the owner of the land, subject to the provisions of the following articles.”. Article 446 states that, “All works, sowing, and planting are presumed made by the owner and at his expense , unless the contrary is proved .” Article 441. To the owner belongs: (1) The natural fruits - Natural fruits are the spontaneous products of the soil, and the young and other products of animals. ...