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Save up to 50% on operating costs with intelligent business setups in The Philippines
Cebu City, Philippines– May 9, 2014 – Did you know The Philippines are one of the countries with most English speakers in the World?
Philippines business setup can be tricky and entrepreneurs must cut through a heavy bureaucratic red tape to succeed.
New business setups can be 100% foreign owned, unless their activities fall under the Foreign Investment Negative List (FINL).
About the tax regime in The Philippines
The Philippines imposes moderate tax burden on both resident and nonresident companies. Corporate income tax is levied at 30%, with a lower rate of 10% for regional holding entities. Standard VAT rate is low at 12% with full exemption on certain sales.
Withholding tax on both dividend and royalties payments to nonresident companies is levied at 30%. However, this rate can be minimized under applicable double tax treaties. The Philippines boast an extended network of 40 double taxation treaties.
Personal taxation is progressive in nature, ranging between 5% and 32%. Favorably, multinational companies and offshore business units suffer a fixed rate of 15%.
Healy Consultants boasts more than a decade of successful, cost-efficient establishments in the Philippines (http://www.healyconsultants.com/
Why invest in the Philippines?
Not many people know that the Philippines boast an attractive, mostly skilled English-speaking workforce. It is no wonder why many U.S. based companies now outsource their business and save up to 50% on operating costs.
Furthermore, the country’s geographic location allows companies to reach ASEAN markets of up to 500 million people. National GDP is backed by a stable and high private consumption, compared to its neighbors.
The Philippines export sector is strong with 2/3 of total exports being electronics and computers. Manufacturing companies are well received and welcomed by the Government, which tries to clean its corruption related name. Furthermore, The Philippines represent an international expats hub, gaining trust and attractiveness worldwide.
Healy Consultants advises all international entrepreneurs to take a firm look at The Philippines and take advantage it’s formidable potential and key opportunities.
About Healy Consultants
Healy Consultants are professionals who offer quality services, which perfectly match the needs of our highly sophisticated clients. We are also proud of the fact that our services are affordable and accessible by our most modest customers.
Mr. Aidan Healy, Business Owner