Philippines overview
Basic Facts
- Officially the Republic of the Philippines
- South East Asia country
- Member of Association of Southeast Asian Nations (ASEAN)
- Philippine peso (PHP) currency
- Presidential democratic republic
- Civil (statutory) law legal system
- Political stability
- Double taxation agreements with more than 40 countries
- Filipino and English speaking
Reasons for doing business in Philippines
TOP 3
Competitive workforce
Tax Incentives In over 400 Special Economic Zones (SEZs) and Freeport Zones
No thin capitalization and no controlled foreign company (CFCs) rules
More advantages
- Corporate income tax (CIT) rates 20-25%
- CIT holidays and VAT exemptions available subject to conditions
- Net operating losses (NOL) may be carried forward for the next 3 years
- The accounting period follows a 12-month fiscal period, but it does not have to follow the calendar year
- Estate and gift tax rates of 6%
- No wealth tax
Company formation in Philippines
Do you need to establish a company in Philippines? Then to administer it?
Are you looking for a reliable lawyer or accountant in Philippines?
Do you want to structure your international business in a correct way?
You do not know yet what do you need in Philippines?
No worries, contact us at any time, we are ready to help you to find the right answers and workable solution for your specific needs. We are here for you. Our strength and our superpower is our 20+ years expertise in taxes and tax laws of more than 40 different countries.
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