Philippines: Corporate Tax

No. The stock transaction tax is not an income tax but a percentage tax. The exclusion from gross income under Section 32(B)(7)(a) of the NIRC applies only to income tax under Title II of the...

CITIRIA will reduce corporate income tax from 30 percent to 20 percent over a 10-year period as well as rationalize specific tax incentives.

Summary : Outsourcing is considered as one of the bright spots in the Philippine economy. It will be a major driver of growth for the next five years. The Philippine Government has enacted several policy directives to attract foreign investment in this area, including tax incentives, customs perks, and a favorable labor policy. Several of these tax and fiscal incentives are discussed in this article.