Doing business in the PhilippinesDriving growth for successIssue 3, January 2015Member of Deloitte Touche Tohmatsu LimitedWhy do business in the Philippines? Country snapshot Selected key investment sectors ASEAN Economic Community Enterprises registered with the Board of Investments Enterprises registered ...
Philippine taxation is administered both at national and local levels. On the national level, the Bureau of Internal Revenue (BIR) is the primary taxing authority and is responsible for the administration of the imposition,assessment, and collection of national internal revenue taxes including income ...
With no taxes applied to dividends or capital gains related to business activities, Singapore's tax system has some unique advantages. This places it among the most favourable tax structures in the Asia-Pacific. Now let's look at Singapore’s corporate taxation: Businesses in Singapore are subjec...
The Philippines garnered substantial international attention in 2016, owing largely to President Rodrigo Duterte’s unexpected rise to power, his litany of controversial remarks, and contentious war on drugs campaign. Lost in the Philippines’ political drama, however, was the country’s strong economi...
reaching 34 percent in 2015; (viii) the frequency of inspections has decreased, but the positive effect was canceled by the increase in time spent by inspectors at a company; (ix) the conditions on the procedures of registration and taxation have not changed; (x) the company's share dropped...
The BIR is the tax governing agency in the Philippines. As such, they collect internal revenue taxes, charges, and fees. They also control finance, taxation, and monetary policy in the Philippines. The Philippine government tasks the BIR to enforce fines and penalties on persons and companies ...
Businesses must ensure they comply with local laws related to business registration, taxation, consumer protection, and data privacy. Some considerations to keep in mind include: Business registration: Depending on the country, you might need to register a local entity or partner with a local ...
A deduction reduces the amount of income subject to taxation, while a credit reduces the tax owed, even after deductions are taken. The GBC is a nonrefundable tax credit, meaning it can only go so far to reduce your tax bill. Once your tax bill hits zero, any credit in excess is ...
Also ReadHow to Set Up a Business in Singapore Free trade and double tax agreements Double taxation avoidance agreements With its favorable taxation policies and strategic position within Southeast Asia, Singapore offers foreign investors competitive and unprecedented access to the Asian market. Businesses...
Australia is a developed economy with great potential for further growth. Its GDP growth, a key indicator of economic success, is looking strong for such a mature economy. It’s in line or ahead of Europe for GDP growth, but behind some regional neighbors such as the Philippines and Vi...