Photo Release

November 25, 2020

Tolentino Supports Recto Amendments: Sen. Francis “Tol” Tolentino says he supports the amendments introduced by the Senate President Pro-Tempore to Senate Bill No. 1357 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill seeking an outright five percent cut in the corporate income tax rate and tailor-fitted incentives for investors. He said Recto addressed most of his amendments and he was assured that the more than 170,000 workers in various economic zones in Cavite will not lose their jobs. Tolentino said during the hybrid plenary session Wednesday, November 25, 2020 that Cavite’s export revenue is equivalent to two percent of the national Gross Domestic Product (GDP). In 2018 alone, he said, the economic zones contributed P15 billion in revenues and remitted more than P1.5 billion in taxes to the provincial government of Cavite. (Screen grab/Senate PRIB)