The Bicameral Conference Committee has approved the reconciled version of House Bill No. 4157 and Senate Bill 1357 of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act on 01 February 2021. Both Houses had respectively settled the disagreeing provisions of the act. The ratified final version is now ready for the signature of President Rodrigo Roa Duterte.
The CREATE Act allows exporters and domestic industries to avail themselves between four (4) to seven (7) years of income tax holiday (ITH) and ten (10) years of special corporate income tax (SCIT). They may later pay the 5% gross income earned (GIE) for ten years.
The Export Development Council (EDC) in its Joint Council and Executive Committee Meeting on 20 January 2021, adjusted the export targets in the Philippine Export Development Plan (PEDP) 2018-2022. The new targets are US$91.7B in 2021 and US$105.3B in 2022.
The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) promotes the online release of the Travel Tax Exemption Certificate (TEC). This initiative makes it easier for the traveling exporter to get their TEC online.
The Bureau of Customs (BOC) upholds the strict implementation of the Online Release System (OLRs) effective on 11 January 2021. It requires the proper format of the registry number when filling out the export Single Administrative Document (SAD) in the Electronic-to-Mobile (E2M) system. Clerical errors due to incorrect registry numbers indicated in the export declaration is subjected to a PHP 5,000.00 fine as stipulated under AOCG Memo 25-2021 ‘Guidelines on the Wrong Encoding of Registry Numbers in the Export Declaration in the E2M System’ in accordance with 
All shippers will be directed to observe the Verified Gross Mass (VGM) on all packed containers. The shipper will be responsible for obtaining and documenting the VGM of the packed container cargoes under the Philippine Port Authority (PPA) proposed revised guidelines on the implementation of mandatory weighing of export containers.
In partnership with the Department of Trade and Industry – Export Marketing Bureau (DTI-EMB) and the International Trade Centre (ITC) virtually launched the first-ever SheTrades hub in Asia held on 03 December 2020. The Shetrades hub seeks to connect three million PH women entrepreneurs to the global market by 2021 and provide women entrepreneurs and women-owned Small and Medium Enterprises worldwide with a unique network and platform to connect to the global markets.