Philippines Tax Articles & Analysis

Chapter | Tax from The Report: Philippines 2019

This chapter examines the tax system of the Philippines, focusing primarily on those stemming from AmBisyon Natin 2040. This includes: The Tax Reform for Acceleration and Inclusion bill; The Tax Reform for Attracting Better and High-Quality Opportunities bill; the Green Jobs Act; The Tax Amnesties Act; and The Tax Amnesty of Delinquencies. This chapter also outlines which processes can now be...

The Philippines’ cooling inflation, improved ease of doing business and increased openness to foreign participation are set to encourage more foreign direct investment. A wealth of infrastructure investment under President Rodrigo Duterte’s flagship Build Build Build programme should ease congestion, reduce regional inequality and further boost the flourishing tourism industry.

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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.

The Philippines’ cooling inflation, improved ease of doing business and increased openness to foreign participation are set to encourage more foreign direct investment. A wealth of infrastructure investment under President Rodrigo Duterte’s flagship Build Build Build programme should ease congestion, reduce regional inequality and further boost the flourishing tourism industry.

 

Taxation is not a very politically popular area. We are therefore pleased about the political will displayed by the current administration in overhauling the country’s 20-year-old tax system. A series of tax reform packages have been laid out under the Tax Reform for Acceleration and Inclusion (TRAIN) strategy, with the first of five such...

 

Nationally, taxes are levied and collected pursuant to the National Internal Revenue Code, the Tariff and Customs Code, and other laws. The main types of revenue taxes are income, indirect, excise, documentary stamp and transfer, which are all administered by the Bureau of Internal Revenue (BIR). Local governments also have some autonomy to...

Chapter | Tax from The Report: Philippines 2018

This chapter offers an overview of the Philippines’ tax regime, focusing on the territorial system for foreign companies and individuals, financial reporting framework, special economic zones and other key subjects. It also contains a viewpoint from Marivic Españo, CEO and Chairperson, P&A Grant Thornton.