Why the CREATE Law is a big scam

Looking at the blurbs set forth in the Department of Finance’s website, you would think that it was God’s gift to us: CREATE recalibrates the Citira , in order to “make it more relevant and responsive to the needs of businesses negatively affected by the COVID-19 pandemic, and to improve the ability of the Philippines to attract investments that will benefit the Filipino people.”

If so, then why is Finance crowing about CREATE being “the first-ever revenue-eroding tax reform package” of the country? Why should it be proud of a program that will surely rob the government of much needed resources to help the Filipino people cope with COVID-19? Now here comes the leap of faith and logic: “This unprecedented investment reflects our resolve to vigorously fight the impact of COVID-19 and get businesses back on their feet as quickly as possible.”

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