Philippines is projected to move from a lower middle-income country to an upper middle-income country See also: Middle-income countries According to BusinessWorld Online: "The World Bank currently classifies the Philippines as a lower middle-income country with a GNI per capita of $3,950. The...
Properties with rental payments exceeding PHP12,800 (US$272) per month received by landlords whose gross annual rental income does not exceed PHP1,919,500 (US$40,840) are not subject to 12% VAT. Instead, it will be liable for percentage tax at a flat rate of 3% levied on the gross ...
Underlying macroeconomic factors:The Pharmacies market in Philippines is also influenced by various macroeconomic factors. One such factor is the country's growing middle class. As more people move up the income ladder, their purchasing power increases, allowing them to spend more on healthcare produc...
The Philippines economy has rebounded strongly during 2022 from the negative impact of the COVID-19 Delta wave that hit the nation in the second half of 2021. In the third quarter of 2022, GDP growth was up 7.6% year-on-year (y/y), after rising by 7.5% y/y in the second...
And even though income levels in the Philippines are a third of what they are in Thailand, a high-rise condominium in Bangkok is only US$1,000 more per square meter than in Manila! This has led to an oversupply of overvalued property in the Philippines that can only be marketed toward ...
Despite having one of the highest income and wealth inequalities in the world (The World Bank, 2018b), its higher education participation rates have historically approximated those of developed countries with higher incomes per capita (A. Orbeta, 2002; The World Bank, 1988), at one point ...
economies in Southeast Asia, described by the World Bank as a “development success story”23. Economic reforms and beneficial global trends have helped transform it from one of the world’s poorest nations into a middle-income economy with a GDP per capita forecast to reach US$4.72k in ...
The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Bill, which aims to lower corporate income tax rates and rationalise fiscal incentives, has now been formally adopted.
Each year, about $30.5 billion in remittances flows into the Philippines, yet traditional banks have not systematically incorporated remittance income into their lending decisions.Recognizing the untapped potential of digital financial services, the government recently launched a refor...
The Philippines has seen its economy grow rapidly since the 2000s, but the country still remains a developing economy with an average per-capita income far lower than developed countries. The country's economy has become increasingly reliant on services, which now make up more than 61% of its...