Tax
From The Report: The Philippines 2012
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In conjunction with Punongbayan & Araullo, OBG explores the taxation system. This chapter features an interview with Marivic C Españo, Managing Partner and CEO, Punongbayan & Araullo.

Articles from this Chapter

Overview

Duties in detail: Examining the nation’s tax codes
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Taxes in the Philippines are imposed at the national and local levels. At the national level, taxes are imposed and collected pursuant to the National Internal Revenue Code, the Tariff and Customs Code, and several special laws. There are four main types of national internal revenue taxes: income, indirect (value-added and percentage taxes), excise and documentary stamp taxes, all of which are administered by the Bureau of Internal Revenue (BIR). At the local level, governments have some autonomy…

Interview

OBG talks to Marivic Españo, Managing Partner and CEO, Punongbayan & Araullo
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Interview:Marivic Españo How can the tax code be modified to make the Philippines a more attractive investment location? MARIVIC ESPAÑO: Modifications to the Philippines’ tax code should take into account its adaptability to current business trends and structures. The government can simplify the tax framework, considering practical issues in implementing the laws. Take the issue of small business, for example. Presently, the same tax rules apply to corporations, medium to large-scale…