THE SENATE on Thursday approved the proposed Enterprise-Based Education and Training (EBET) Framework on the second reading.

With this, Senator Joel Villanueva, author, and sponsor of Senate Bill 2587, thanked his colleagues for supporting the measure.

Senator Pia Cayetano has earlier proposed an amendment to Senate Bill No. 2587 that would allow enterprises registered in the EBET program to avail additional deduction from their taxable income equivalent to 50 percent of actual training expenses.

“The additional deduction shall increase to 75 percent of the actual training expenses provided further, that such deduction shall not exceed five percent of total direct labor expenses or shall not exceed 25 million a year,” Cayetano said.

The lady senator said the proposed amendment would be consistent with the Corporate Recovery and Tax Incentives for Enterprises or CREATE law.

Create Law aims to make the Philippines more competitive with the members of the Association of Southeast Asian Nations by lowering the corporate income taxes to 25 percent and 20 percent for small, medium, and micro enterprises.

EBET Framework Act is one of the priority measures being pushed by the executive department.