mang inasal
DOING BUSINESS IN THE PHILIPPINES
A publication by
ALBA ROMEO & CO. www.bdo.net.ph DOING BUSINESS IN
THE PHILIPPINES
1
PREFACE
This publication has been prepared for the exclusive use of ALBA ROMEO & CO. and its clients. Its aim is to provide background information for setting up and running a business in the Philippines, in compliance with current local legislation. It is written in general terms and is not intended to be comprehensive. For more detailed information, advice should be sought from ALBA ROMEO & CO.
ALBA ROMEO & CO., a general professional partnership, is a member of BDO International, a worldwide network of public accounting firms, called BDO Member Firms, serving international clients. Each member Firm is an independent legal entity in its own country. BDO is represented in 135 countries,
48,800 people with 1,118 offices worldwide.
BDO special skills lie in its application of local knowledge, experience and understanding of the international context to provide an integrated global service. At BDO, common operating and quality control procedures are not a constraint to innovation and independence of thought, but the starting point. It is a vigorous organization committed to total service.
BDO reputation is derived from consistently offering imaginative and objective advice promptly. BDO takes pride in its client’s success and its relationship with them. It is a personal relationship that combines the benefits of professional knowledge, integrity and an entrepreneurial approach, with an understanding of a client’s business and an ability to communicate effectively. This ensures the highest quality professional service, tailored to meet the individual needs of every client whether they be the government, multinational companies, national businesses or private individuals.
Sixth Edition 2012
2
CONTENTS
Preface
The Business Environment
Finance and Investment
Investment Policies and Laws
The Tax
A publication by
ALBA ROMEO & CO. www.bdo.net.ph DOING BUSINESS IN
THE PHILIPPINES
1
PREFACE
This publication has been prepared for the exclusive use of ALBA ROMEO & CO. and its clients. Its aim is to provide background information for setting up and running a business in the Philippines, in compliance with current local legislation. It is written in general terms and is not intended to be comprehensive. For more detailed information, advice should be sought from ALBA ROMEO & CO.
ALBA ROMEO & CO., a general professional partnership, is a member of BDO International, a worldwide network of public accounting firms, called BDO Member Firms, serving international clients. Each member Firm is an independent legal entity in its own country. BDO is represented in 135 countries,
48,800 people with 1,118 offices worldwide.
BDO special skills lie in its application of local knowledge, experience and understanding of the international context to provide an integrated global service. At BDO, common operating and quality control procedures are not a constraint to innovation and independence of thought, but the starting point. It is a vigorous organization committed to total service.
BDO reputation is derived from consistently offering imaginative and objective advice promptly. BDO takes pride in its client’s success and its relationship with them. It is a personal relationship that combines the benefits of professional knowledge, integrity and an entrepreneurial approach, with an understanding of a client’s business and an ability to communicate effectively. This ensures the highest quality professional service, tailored to meet the individual needs of every client whether they be the government, multinational companies, national businesses or private individuals.
Sixth Edition 2012
2
CONTENTS
Preface
The Business Environment
Finance and Investment
Investment Policies and Laws
The Tax