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CREATE-st

Authored by Athena Ciera Encarnacion

Professional Development

Professional Development

Used 3+ times

CREATE-st
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9 questions

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1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The acronym CREATE means

Corporation Recovery And Tax Incentives for Enterprises

Corporate Recuperation And Tax Incentives for Enterprises

Corporate Recovery And Tax Incentives for Enterprises

2.

FILL IN THE BLANK QUESTION

10 sec • 1 pt

RA _____ or Corporate Recovery And Tax Incentives for Enterprises

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

It is the second package of the Comprehensive Tax Reform Program that reduces Income Tax Rates from 30% to __% for corporate taxpayers in general, and to 20% for other corporate taxpayers, subject to certain qualifications, effective July 1, 2020

20%

25%

22%

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When was the act approved by President Duterte?

June 26, 2021

March 29, 2021

April 11, 2021

March 26, 2021

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

____ 26, 2021 – effectivity of the Implementing Rules and Regulation (IRR)

May

June

July

March

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

> shall be limited to the income generated by the Registered Business Entity (RBE) from a registered project or activity

> 4yrs to 7yrs entitlement depending on the location and industry priorities (SIPP)

Income Tax Holiday

Income Tax Table

Income Tax Return

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What is the allowable deduction for assets acquired for the production of goods and services (qualified capex) under CREATE?

20% for buildings

10% for machinery

15% for buildings

20% for machinery

10% for buildings

20% for machinery

20% for buildings

15% for machinery

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