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 …
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.
Business, Legal, Tax, Investment, Accounting News | ASEAN Briefing
WEBIt publishes business news concerning foreign direct investment into ASEAN, including the most important tax, legal and accounting issues. The ASEAN Briefing Magazine was first published in 2009, and is contributed to by investment professionals based in ASEAN. The Philippines imposes a territorial tax system, meaning only Philippine-sourced ...
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).
The Guide to Employment Permits for Foreign Workers in Indonesia
WEBMay 22, 2024 · For a local company to employ a foreign worker, they must prepare a Foreign Worker Utilization Plan (Rencana Penggunaan Tenaga Kerja Asing (RPTKA)) — a document that details the specific work, position, and length of employment the foreign employee will undertake in Indonesia.The RPTKA now also serves as the basis for the MOM to grant visas and stay permits.
The Guide to Thailand’s Import and Export Procedures - ASEAN …
WEBDec 26, 2016 · By Dezan Shira & Associates Editor: Harry Handley Since the implementation of the Foreign Business Act of 1999, foreign businesses set up in a range of industries in Thailand must have a Thai majority shareholder. One line of business that is exempt from this is import/export trading. This exemption, along with developed infrastructure and a solid legal framework, have made Thailand a hub for ...
The Guide to Employment Permits for Foreign Workers in the …
WEBJul 12, 2022 · The most common type of work visa issued in the Philippines is the 9 (G) visa, also known as the Pre-arranged Employment Visa. It allows employers in the country to employ foreign nationals with skills, qualifications, and experience that may be in short supply in the country. The issuance of the 9 (G) visa falls within the competencies of the BI.
The Philippines’ 2022 Strategic Investment Priority Plan - ASEAN …
WEBAug 18, 2022 · On June 14, 2022, the 2022 Strategic Investment Priority Plan (SIPP) came into effect, expanding tax incentives to several new areas. The plan was approved by then-president Rodrigo Duterte on May 24, 2022, in. The SIPP stands to benefit investors in a wide range of industries that the government deems critical to upgrading its industrial and ...
Import and Export Procedures in Indonesia – Best Practices
WEBJul 1, 2021 · Customs duties in Indonesia vary from 0 to 170 percent, with most imported items attracting duties in the range of 0 to 15 percent. The amount of duty depends on the type of goods imported, based on the product’s HS code. It is required to pre-pay customs duties and import taxes and provide notification of the incoming freight to customs.