Philippines Tax

Chapter | Tax from The Report: Philippines 2021

This chapter examines the tax system of the Philippines, focusing primarily on the tax...

The Philippines is one of the world’s fastest-growing nations. Although economic activity slowed during the 2020 Covid-19 pandemic period, stimulus measures, imminent public sector policies and a larger budget are expected to create jobs, generate growth and help kick-start the country’s recovery during 2021.

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The government implemented various programmes to help alleviate the economic impact of the Covid-19 pandemic. To sustain these measures, the Department of Finance issued Revenue Regulation (RR) No. 21-2020 in September 2020, which outlines the guidelines for the implementation of the Voluntary Assessment and Payment Programme (VAPP) for the...

 

To what extent will the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill facilitate economic recovery from the Covid-19 pandemic?

 

The Covid-19 pandemic impacted countries and businesses around the world. In the Philippines lockdown measures in the form of community quarantines were imposed and many workers became unemployed. The Bayanihan to Heal as One Act (Bayanihan 1) was enacted on March 25, 2020 in response to the crisis. Included in the law’s measures were tax...

The Philippines is one of the world’s fastest-growing nations. Although economic activity slowed during the 2020 Covid-19 pandemic period, stimulus measures, imminent public sector policies and a larger budget are expected to create jobs, generate growth and help kick-start the country’s recovery during 2021.

 

In what ways do you expect artificial intelligence (AI) and other digital tools to disrupt tax administration?

 

The Philippines continues to be one of the most attractive investment destinations in Asia. This is unsurprising given its high literacy rate; English proficiency; abundant natural resources; and efficient, productive and competitive workforce.

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