A Guide to Taxation in the Philippines - ASEAN Briefing
WEBJul 16, 2024 · The CIT of 25 percent is levied on net income on all sources. Non-resident companies are taxed only on their Philippine-sourced income. Domestic companies are taxed on their worldwide income. The Ease of Paying Taxes Act, also known as Republic Act No. 11976, became effective on January 22, 2024.
ASEAN’s Free Trade Agreements: An Overview
WEBAug 20, 2021 · It is important for foreign investors to understand ASEAN’s free trade agreements (FTAs) to capitalize on the bloc’s long-term potential. These FTAs offer numerous benefits such as tax holidays, improved custom clearances, and reduced import costs. ASEAN could become the world’s fourth-largest economy by 2030, comprising of …
Import and Export Procedures in the Philippines – Best Practices
WEBJun 23, 2017 · In 2015, the Philippines exported goods valued at US$77.9 billion and imported products worth US$76.8 billion. The Philippines’ top export destinations are China, Japan, the United States, and Singapore; and the country’s top import partners are China, Japan, Korea, the United States, and Thailand. In this article we explain best practices ...
Rules of Origin Criteria of ASEAN’s Free Trade Agreements
WEBJan 4, 2018 · RELATED: Pre-Investment and Market Entry Advisory from Dezan Shira & Associates. RVC requires that a certain percentage of the good’s value must originate in a FTA member country for the good to be considered as originating. Under ASEAN’s FTAs, this percentage is generally 40 percent of the Free on Board (FOB).
New Work Permit Rules for Foreign Employees in Cambodia
WEBJan 30, 2024 · A foreign employee whose name is stated on a company’s patent tax certificate must hold a work permit and employment card; and. Self-employed foreign nationals must hold a work permit and employment card. Foreign workers looking to work in Cambodia will need a valid business visa (E-class visa). The …
The Philippines’ Relationship With ASEAN - ASEAN Briefing
WEBMar 22, 2017 · ASEAN is one of the cornerstones of the Philippines’ foreign and trade policies. This is manifested in the Philippines policy to promote a more peaceful, stable, and free South East Asia, through the pursuit of different initiatives, in the policy making, economic, trading and functional cooperation activities.
Four Decades Strong: Apple Expands Its Singapore Campus
WEBJul 30, 2024 · Apple announced further investments of US$250 million to expand its Ang Mo Kio campus in Singapore. Construction is expected to start this year. The investment will support the expansion of Apple’s operational ecosystem, the development of AI technologies, and the creation of new job opportunities. Apple began operations in Singapore in 1981 ...
Philippines Passes CREATE MORE Act - ASEAN Briefing
WEBMay 24, 2024 · On March 18, 2024, the Philippines House of Representatives passed a Bill amending the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act following the third reading. The amendment (), which has been called the CREATE MORE bill, makes key amendments and enhancements to the tax regime introduced in the CREATE Act to clear up inconsistencies and ambiguities, and importantly, to ...
Applying ESG Metrics for Sustainability Reports in Singapore
WEBMar 1, 2024 · The Singapore Exchange (SGX) recommends a set of 27 core ESG metrics for issuers to begin their sustainability reporting, aiming for standardized ESG information. These metrics are subject to periodic review and revision to stay aligned with evolving international reporting standards. There are multiple …
Indonesia's Positive Investment List: Sectors Open to Foreign …
WEBJun 28, 2024 · The general principle under the positive investment list is that a business sector is open to 100 percent foreign investment unless it is subjected to a specific limitation. The regulation presents one of Indonesia’s greatest liberalizations in foreign ownership limitations since the negative investment list was first introduced in the 1980s.