Known for it’s expertise in the ICT sector, The Phillipines have a global presence with their Business Processing Outsourcing (BPO) and ever expanding growth in the sector. Strategically located in the fastest growing region and flanked by two great trade routes the Pacific Ocean and the South China Sea, the Philippines is an ideal base for business, placed at the crossroads of international shipping and airlines.
For more info visit :http://www.dti.gov.ph
The relationship between employers and employees in the Philippines is regulated by the Department of Labor & Employment.
There are several types of employment that is recognized :
P481 for workers in the non-agriculture sector and to P444 for workers in the agriculture sector.
The minimum number of annual leaves are 5.
A required form of social security contribution by employer for 1% of monthly employee salary credit.
For more info visit :http://www.dole.gov.ph
Under Bureau of Internal Revenue, the rate for for domestic and resident foreign corporations are at a flat rate of 25%.
For non resident status companies the tax would be flat at 25%
For more info visit :http://www.hasil.gov.my
VAT with a standard rate of 12%. VAT can only be levied and charged if the business is registered under VAT Registered Business with an annual turnover of taxable supplies reach the prescribed threshold of P1,919,500.00.
For more info visit :http://www.bir.gov.ph