Foreign Contractors Owning 100% of Local Construction Firms: RA 11711 Explained.
Key Features of RA 11711 and Jurisprudence: Empowering Local and Foreign Stakeholders Executive Summary: Opening Doors to Global Opportunities in Construction Two years ago, the Philippine construction industry began a transformative era with the enactment of Republic Act No. 11711 and the landmark Supreme Court decision in Philippine Contractors Accreditation Board (PCAB) v. Manila Water […]
Maximizing Opportunities: PEZA and BOI Incentives Under the CREATE Act
The Philippines offers a competitive suite of fiscal and non-fiscal incentives designed to attract investors, particularly through the Philippine Economic Zone Authority (PEZA) and the Board of Investments (BOI). These incentives, further streamlined by the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), are pivotal in driving economic growth and fostering a business-friendly environment. […]
Enhanced Tax Incentives for your Business from the CREATE MORE Act
When Do Enhanced Tax Incentives and Reforms Under the CREATE Act Apply? The enhanced tax incentives and reforms introduced under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act apply upon the effectivity of the law and its implementing rules and regulations (IRR). Specifically: a. Reduced Corporate Income Tax Rate: The CREATE MORE Act […]
Learn New Skills and Save on Taxes: EBET Act Explained.
Highlights of the EBET Act’s Promise EBET Act in a Nutshell The EBET Act (RA 12063) is a groundbreaking legislation that enables enterprises to deliver customized, competency-based training aligned with TESDA standards, addressing the skills mismatch and improving employability. It offers workers direct access to industry-relevant certifications and gives businesses generous fiscal incentives, including tax […]
A New Era of Digital Service Taxation: The BIR’s Draft Regulation on RA 12023
The Evolution of Taxation in the Digital Economy As the world increasingly shifts to the digital age, the Philippines has found itself grappling with how to keep its tax system in step with this rapid transformation. The explosion of online services—streaming platforms, e-commerce, digital advertising, and cloud storage—has created a new economy, one that does […]
Embracing Accountability: How the Extended Producer Responsibility (EPR) Law Transforms Plastic Waste Management for Sustainable Growth
The Urgent Need for Responsible Plastic Use Plastic waste’s environmental toll has become a global concern, with governments worldwide pressing for urgent, sustainable solutions. In the Philippines, Republic Act No. 11898, also known as the “Extended Producer Responsibility Act of 2022,” directly addresses this issue by amending the Ecological Solid Waste Management Act of 2000. […]
Understanding CREATE MORE: A Guide for Businesses in the Philippines
The Philippines stands on the brink of a new economic chapter, as President Ferdinand R. Marcos Jr. is about to sign the CREATE MORE Bill into law. This landmark legislation, championed by Senate President Francis Escudero, promises to transform the nation’s business climate, creating a fertile ground for investments and a thriving domestic workforce. Escudero, […]
Exploring the Benefits of Converting Your Philippine Representative Office
Many businesses start with a representative office, a great entry point into a new market. But as success grows, so can your ambitions. A recent client contacted us with a question we hear often: “Can we convert our Philippine representative office into a branch?” With the Philippine market booming, they were ready to take the […]
Transferring Land to Your Corporation Tax-Free: Step-by-Step Process
If Person A owns a land worth ₱10M and wishes to transfer this land to a holding company (owned 99% by A and B) under the tax-free exchange provisions of RMC 19-2022, here is a step-by-step guide to facilitate this process. 1. Preliminary Steps: Understand the Requirements Ensure that the transfer qualifies as a Tax-Free […]
New 12% VAT Law on Digital Services: What It Means for You and Your Favorite Platforms
The recent enactment of Republic Act No. 12023 marks a significant shift in the taxation landscape for digital services in the Philippines. This law mandates a 12% Value-Added Tax (VAT) on nonresident digital service providers, aligning the country’s tax policies with global standards and ensuring a level playing field for local and international service providers. […]