Tax
From The Report: The Philippines 2016
View in Online Reader

This chapter gives a breakdown of the tax environment in the Philippines, examining new developments that include separate tax regimes offered in special economic zones, regulations governing transfer pricing and bookkeeping requirements. It also contains an interview with Marivic Españo, Chairperson and CEO, P&A Grant Thornton.

Articles from this Chapter

Overview

Key points: A detailed look at the tax laws for businesses
OBG
plus

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 to impose taxes on business and ownership of real property. There is…

Interview

Encouraging compliance: OBG talks to Marivic Españo, Chairperson and CEO, P&A Grant Thornton
OBG
plus

Interview:Marivic Españo How can comprehensive reform of both corporate and personal income tax rates help boost revenue and reduce informal economic activity? MARIVIC ESPAÑO: Studies have consistently concluded that a tax system which is fair and easy to comply with and administer will be revenue productive. Such a revenue boost can come from different sources: voluntary compliance by the informal sector, increased compliance by those who are already in the tax net, increased business…