Description
This latest law introduces substantial amendments to the present National Internal Revenue Code (NIRC)/Tax Code previously amended by the TRAIN (Tax Reform for Acceleration and Inclusion) and CREATE (Corporate Recovery and Tax Incentives for Enterprises) laws, which are favorable and beneficial to the taxpayers. As the acronym EOPT stands for Ease of Paying Taxes, this will make the process of tax compliance, i.e., registration, filing and payment of taxes, easier for the taxpayers. It is worth noting that the new law also adopts a gender fair language, consistent with constitutional policy to recognize fundamental equality between men and women.
