Republic of the Philippines
Capital: Manila HDI: 0.660 (117th)
Language: Filipino, English
GDP (PPP): $692.2 billion
Currency: Philippine Peso
Population: ~ 101 million
The island archipelago of the Philippines is one of the world’s newly industrialized economies. The country has weathered global economic shocks well thanks to its diversifying economy and the country running surpluses in the 21st century. Economic growth has been steady and high and foreign investment has been steadily increasing over the last few years. In particular business process outsourcing has been seen as having a high potential of growth in the future, due to high levels of English skills and increasing education. The economic growth will play a major role in reducing low income levels over the next decade.
RESEARCH
Economic Overview
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Philippines Overview – World Bank
http://www.worldbank.org/en/country/philippines/overview
The Philippines is one of the most dynamic emerging markets in the East Asia region, with sound economic fundamentals and a competitive workforce that is globally recognized. Growth in the Philippines has been on average about 5 percent since 2002, significantly higher than the rate achieved in the previous two decades.
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Philippines: Economy | Asian Development Bank
http://www.adb.org/countries/philippines/economy
The rebound in government spending is expected to spur growth through the rest of this year and in 2016. In July, growth in public expenditure excluding interest accelerated to 31% year on year. Election-related spending will also support domestic demand through May 2016, when elections will be held.
Industry Trends & Business Climate
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PHILIPPINES INVESTMENT CLIMATE
http://www.adb.org/sites/default/files/linked-documents/43396-014-ssa.pdf
This updated assessment provides the background to the constraints on and threats to competitiveness, as well as the government’s priority reforms to improve competitiveness to attract investment.
Establishing a Presence
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Business Types – Choosing a Business Structure | Invest Philippines
http://investphilippines.gov.ph/setting-up/types-of-business-enterprises/
A comprehensive list of the business structure options.
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Business Registration Steps
http://businessdiary.com.ph/3634/business-registration-steps-the-easy-way/
This site provides the easy steps to business registration in the Philippines
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Business Registration Requirements – Starting a Business in Philippines
http://www.doingbusiness.org/data/exploreeconomies/philippines/starting-a-business
This site a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Philippines.
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Business Types – Types Of Business Organizations
http://www.mondaq.com/x/9340/Investment+Strategy/Types+Of+Business+Organizations+That+Foreign+Investors+May+Establish+In+The+Philippines
There are various business or juridical entities that may be established by a foreign investor interested in conducting business activities in the Philippines. These include the establishment by a foreign corporation of a (i) local subsidiary through a domestic corporation, (ii) a branch office, (iii) a representative office, (iv) a regional or area headquarters, or (v) a regional operating headquarters. Entry into the Philippines can also be achieved through joint ventures with other domestic corporations.
Taxes
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Corporate – Philippines Corporate Tax Rate
http://www.tradingeconomics.com/philippines/corporate-tax-rate
The Corporate Tax Rate in Philippines stands at 30 percent. Corporate Tax Rate in Philippines averaged 32.05 percent from 1997 until 2015, reaching an all time high of 35 percent in 1997 and a record low of 30 percent in 2009. Corporate Tax Rate in Philippines is reported by the Bureau of Internal Revenue.
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Corporate – Country Tax Profile: Philippines
https://www.kpmg.com/Global/en/services/Tax/regional-tax-centers/asia-pacific-tax-centre/Documents/CountryProfiles/Philippines.pdf
Resident corporations are subject to a 30 percent regular corporate income tax rate based on net income, or to a 2 percent minimum corporate income tax rate based on gross income, whichever is higher
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Personal – Philippines Personal Income Tax Rate
http://www.tradingeconomics.com/philippines/personal-income-tax-rate
The Personal Income Tax Rate in Philippines stands at 32 percent.
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Personal – Philippines – Taxes on personal income
http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/Philippines-Individual-Taxes-on-personal-income
The Philippines taxes its resident citizens on their worldwide income. Non-resident citizens and aliens, whether or not resident in the Philippines, are taxed only on income from sources within the Philippines.
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VAT/Sales Tax – Philippines Sales Tax Rate
http://www.tradingeconomics.com/philippines/sales-tax-rate
The Sales Tax Rate (VAT) in Philippines stands at 12 percent. Sales Tax Rate in Philippines averaged 11.80 percent from 2006 until 2015, reaching an all time high of 12 percent in 2007 and a record low of 10 percent in 2006. Sales Tax Rate in Philippines is reported by the Bureau of Internal Revenue.
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VAT/Sales Tax – Value Added Tax (Taxable Sales) Philippines
http://www.slideshare.net/KarlaJeanMedina/value-added-tax-taxable-sales-philippines
VAT on sales or lease of goods, properties and services; a) Sales on goods and properties b) Transactions deemed sale c) Sales of Services and use or lease of properties
Visas
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Philippines – US Department of State
http://travel.state.gov/content/passports/english/country/philippines.html
See Exit, Entry and Visa Requirements on this site
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Work Permits – Philippines – US Department of State
http://travel.state.gov/content/passports/english/country/philippines.html
See Exit, Entry and Visa Requirements on this site
Infrastructure
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Philippines Guide: Public transport
https://www.justlanded.com/english/Philippines/Philippines-Guide/Travel-Leisure/Public-transport-in-the-Philippines
There are 7,107 islands in the Philippines so island hopping is a popular leisure activity, not to mention a cheap way to travel around the country.
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Telecom/IT – Philippines – Major Telecommunications Operators
http://www.budde.com.au/Research/Philippines-Major-Telecommunications-Operators.html
An overview of the major telecom operators in the Philippines
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Telecom/IT – Telecommunications in the Philippines
https://en.wikipedia.org/wiki/Telecommunications_in_the_Philippines
Telecommunications in the Philippines are well-developed due to the presence of modern infrastructure facilities.
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Getting around Philippines on local transport
http://www.lonelyplanet.com/philippines/transport/getting-around/local-transport
This site provides Information on all forms of public transportation
Employer Obligations
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Social Insurance -Workers’ Protection in a New Employment Relations
http://www.ilo.org/wcmsp5/groups/public/---ed_dialogue/---dialogue/documents/genericdocument/wcms_205376.pdf
Workers’ Protection in a new employment relationship
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Labor Rules and Obligations – Labor Code of The Philippines
http://www1.umn.edu/humanrts/research/Philippines/PD%20442%20-%20Labor%20Code%20of%20the%20Philippines.pdf
A Presidential decree describing the labor code
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Social Insurance – the Philippines: workers’ protection – International…
http://www.ilo.org/wcmsp5/groups/public/---ed_dialogue/---dialogue/documents/genericdocument/wcms_205376.pdf
The Labor Code is the main instrument that provides protective mantle to the workers in the Philippines. It was promulgated during an economic regime whose principal engine for growth was import substitution. Its basic assumption is that as economic development deepens most of the workers will eventually join the ranks of regular employees. Thus the provisions of the Labor Code are largely aimed at protecting those with regular employment.
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Labor Rules and Obligations – Department of Labor and Employment – Labor Codes
http://www.dole.gov.ph/labor_codes/view/4
A guide to employment and employee benefits law in the Philippines.
Culture/Living
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Business Etiquette in the Philippines | USA Today
http://traveltips.usatoday.com/business-etiquette-philippines-16184.html
The dos and don’ts of business etiquette in the Philippines
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Business Etiquette – Philippines – Language, Culture, Customs and Etiquette
http://www.kwintessential.co.uk/resources/global-etiquette/philippines-country-profile.html
See “Etiquette & Customs” on this site
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Safety – Philippines Travel Warning
http://travel.state.gov/content/passports/english/alertswarnings/philippines-travel-warning.html
The Department of State warns U.S. citizens of the risks of travel to the Philippines, in particular to the Sulu Archipelago, certain regions and cities of the island of Mindanao, and the southern Sulu Sea area.
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Cost of Living in Philippines
http://www.numbeo.com/cost-of-living/country_result.jsp?country=Philippines
Cost of living information includes price indices for rent, food, utilities, transportation, restaurants, clothing and more
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Cost of Living in the Philippines | Expat Arrivals
http://www.expatarrivals.com/philippines/cost-of-living-in-philippines
The cost of living in the Philippines is low compared to other major Southeast Asian countries.
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Climate of the Philippines – Wikipedia
https://en.wikipedia.org/wiki/Climate_of_the_Philippines
The main variable of the Philippines climate is not temperature or air pressure, but rainfall. In general, the climate of the Philippines can be described as tropical, with the coastal plains averaging year-round temperatures about 28°C. The area’s relative humidity is quite high, and ranges between 70 and 90 percent.
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Climate – Philippines Weather, Climate and Geography
http://www.worldtravelguide.net/philippines/weather-climate-geography
The Philippines is hot year-round but sea breezes can add freshness during the winter (November to February). The typhoon season lasts from around July to October
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Education and Schools in the Philippines
http://www.expatarrivals.com/philippines/education-and-schools-in-philippines
Schooling in the Philippines suffers from underfunding and a lack of resources. Education at local Filipino schools is not likely to be of the standard most expats are used to. Expats living in the Philippines opt to send their children to international schools.
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Education in Philippines – WENR
http://wenr.wes.org/2009/01/wenr-january-2009-practical-information/
The Philippine education system has been heavily influenced by its colonial history, which has included periods of Spanish, American and Japanese rule and occupation
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Holidays and observances in Philippines
http://www.timeanddate.com/holidays/philippines/
Regular and special non-working holidays and observances
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Philippines Public HolidaysHolidays –
http://publicholidays.ph/
Public holidays in the Philippines are days off that have been provided for by law (Chapter 7 of the Administrative Code of 1987) and which are observed across the nation.
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Demographics – Philippines Demographics Profile
http://www.indexmundi.com/philippines/demographics_profile.html
Demographic information includes population, quality of life, health, sports, technology, energy and the environment
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Demographics – Philippines Facts | Government, Economy, Demographics
http://country-facts.findthedata.com/l/111/Philippines
Discover and compare Philippines facts about health, technology, energy, environment, military, government, economy, demographics, education and more
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Safety and Security in Philippines
http://tx.english-ch.com/teacher/bien/home/safety-and-security-in-philippines/
The Philippines – although generally safe and sincerely friendly to tourists – is also prone to the usual safety issues plaguing even more developed countries
Trade
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Import/Export Regulations – Filipino Customs: Regulations, Export-Import
https://philippines.visahq.com/customs/
Import and Export regulations – FAQs
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Import/Export Regulations – Import customs procedures in the Philippines
https://en.santandertrade.com/international-shipments/philippines/customs-procedures
A complete description of import rules and regulations
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Trade Agreements – Trade Agreements – DTI
http://www.dti.gov.ph/dti/index.php/resources/trade-agreements
Listing of trade agreements from the Department of Industry and Trade
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Trade Agreements – Philippines and the WTO
https://www.wto.org/english/thewto_e/countries_e/philippines_e.htm
This site provides key information on the Philippines’ participation in the WTO. The Philippines has been a WTO member since 1 January 1995 and a member of GATT since 27 December 1979.
Housing and Rentals
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Accommodation in the Philippines | Expat Arrivals
http://www.expatarrivals.com/philippines/accommodation-in-philippines
Expats looking for accommodation in the Philippines will find a variety of options to choose from, depending on their budget and particular circumstances. From luxury condominiums, to free-standing houses, from metropolitan city living in Metro Manila to the tropical beaches of Palawan, every area of the Philippines has something unique to offer expats.
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Philippines Hotels, Hostels & Accommodation
http://www.lonelyplanet.com/philippines/hotels
A guide to a wide variety of hotels and hostels
Travel
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Philippines – Lonely Planet
http://www.lonelyplanet.com/philippines
This site provides a listing of travel advice and major attractions in the Philippines
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The Philippines: a guide to the best islands
http://www.theguardian.com/travel/2013/nov/27/philippines-best-islands-after-typhoon-haiyan-tourists
A guide to the best of the country’s 7000 islands
NETWORKING
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Philippine Forums
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