CREATE is one of the most important priority legislative agendas endorsed by the DBCC that will help the country gradually recover from the effects of the pandemic over the medium term. By reducing corporate income tax rates from 35 percent to 30 percent for smaller businesses especially, businesses are left with more resources which they need to deal with this economic downturn and later on can invest back into the economy when the economy recovers. The lower rates also make Corporate Income Tax in the Philippines closer to the rates of its neighbors. The law also makes our fiscal incentives regime more transparent, performancebased, and timebound, making the country more competitive in attracting possible investments. It is also important to note the other tax reforms the government has implemented to keep tax effort at respectable levels, such as Tax Reform for Acceleration and Inclusion (TRAIN) increase in taxes for sin products and sweetened beverages, improved tax administration through digitization and modernization of the operations of the Bureau of Internal Revenue and Customs. As previously mentioned, the passage of all the packages of the CTRP is expected to broaden the revenue base and improve collection efficiency, thereby, favorably impacting overall revenue generation and mobilization.