PHILIPPINES Law and Practice Contributed by: Rose Marie M. King-Dominguez, Melyjane G. Bertillo-Ancheta and Franco Aristotle G. Larcina, SyCip Salazar Hernandez & Gatmaitan
CREATE MORE Act Republic Act No 12066, or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Oppor - tunities for Reinvigorating the Economy (CREATE MORE) Act, took effect on 28 November 2024. The CREATE MORE Act expanded the CREATE Act and enhanced the tax incentives granted under CREATE. Under the CREATE MORE Act, a Registered Business Enterprise (RBE) may enjoy income tax-based incen - tives ranging from 14 to 17 years (with an investment capital of PHP15 billion and below) or 24 to 27 years (with an investment capital above PHP15 billion), depending on the registered project’s location and industry tier. On 17 February 2025, the CREATE MORE IRR were issued to take effect immediately upon publication in a newspaper of general circulation. Guidelines on Philippine Green Equity On 23 September 2025, the SEC issued SEC Memo - randum Circular No 13, series of 2025, or the SEC Guidelines on Philippine Green Equity. The SEC Guidelines on Philippine Green Equity establishes a framework for “green” equity offerings which will allow publicly listed companies to apply for a “green equity” label and thus provide greater visibility to their “green” activities, or economic activities which are classified as environmentally and socially sustainable. The guidelines primarily govern the application and designation of listed shares as “green” equity for com - panies which derive more than 50% of its revenue from “green” activities and channel more than 50% of its investments towards the same. Increase of the Notification Thresholds for Mergers and Acquisitions Effective 1 March 2026, the PCC adjusted the compul - sory merger notification thresholds to PHP9.1 billion for the size of party threshold, and PHP3.8 billion for the size of transaction threshold. The PCC is expected to again adjust these thresholds for the year 2027. Konektadong Pinoy Act On 14 September 2025, Republic Act No 12234 or the Konektadong Pinoy Act, became effective.
The law seeks to develop the country’s data transmis - sion infrastructure and remove barriers to competition in data transmission services, by, among other things: • Requiring entities that seek to provide data trans - mission services (such as internet services provid - ers) to only register themselves with the DICT as a “data transmission industry participant” even such entities that will put up their own network (except those that will provide landline and mobile phone services). This is marked change in the previous requirement that entities that will operate a network need a congressional franchise and a certificate of public convenience and necessity from the NTC. • Requiring the formulation of an “access list” which shall set out “digital infrastructure and services” access which is necessary for an entity to offer digital transmission services competitively. Own - ers, lessors, and operators of digital infrastructure and services included in the access list (Access Providers) are required to grant access to such digital infrastructure and services in an open, fair, reasonable, and non-discriminatory basis; and are required to publish a “reference access offer” (RAO) that contains the relevant information, terms, conditions, and rates for the provision of access to digital infrastructure and services contained in the access list. The RAO of an Access Provider deter - mined to have “significant market power” requires NTC approval. • Requiring the formulation of a “spectrum manage - ment policy framework” (SMPF) to ensure that a spectrum is “managed in a manner that ensures fair competition, supports adaptability to techno - logical advancements, and maximizes [its] efficient use... among all registered [Data Transmission Industry Participants] (DTIPs).”On 16 December 2025 the IRR of the Konektadong Pinoy Act took effect. It mirrors the open access and fair compe - tition policies set out in the Konektadong Pinoy Act. Notably, however, it additionally provides for, among others:Change in control requirements on DTIPs. NTC approval is required for a substantial change in control over a DTIP. A substantial change in control includes: (a) any direct or indirect sale, transfer, or disposal of 20% or more of the voting shares or equity interest of the DTIP, whether in a single trans -
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