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Government DepartmentsTax Havens Buck European Property Slump 20-04-2009
Cyprus is Europe’s most attractive tax regime, survey finds 20-04-2009
Bank secrecy jurisdictions pledge to cooperate on tax data exchange
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Philippines
Physical Facts |
|
| Population: | 96,061,680 (July 2008 est.) |
| Location: | South eastern Asia. archipelago between the Philippine Sea and the South China Sea, east of Vietnam |
| Area: | 300,000 sq km |
| Climate: | Tropical marine climate. March to May is hot and dry. June to October is rainy, November to February is cool. Average temperatures: 78 degrees F / 25 degrees C to 90 degrees F / 32 degrees C. humidity is 77 per cent. |
| Transport | Road, Rail, Air, Sea |
| International Direct Dialling prefix: | 63 |
| Internet Country Code | .ph |
| Time difference on GMT: | + 8 |
Administrative Facts: |
|
| Status: | Republic |
| Government: | Bicameral system. Congress or Kongreso consists of the Senate or Senado (24 seats - one-half elected every three years; members elected at large by popular vote to serve six-year terms) and the House of Representatives or Kapulungan Ng Nga Kinatawan has 240. seats. |
| Legal System: | Based on Spanish and Anglo-American law. Supreme Court (15 justices are appointed by the president on the recommendation of the Judicial and Bar Council and serve until 70 years of age) Court of Appeals; Sandigan-bayan (special court for hearing corruption cases of government officials) |
| International Court Jurisdiction: | Accepts compulsory ICJ jurisdiction with reservations |
| Language: | Filipino (official; based on Tagalog) and English (official). |
| Education system: | Compulsory between ages of 6 and 12 English is the primary language used in schools and universities The government has 3 main branches that manage education system in the Philippines, these are the Department of Education (DE), Commission on higher Education (CHED) and the Technical Education and Skills Development Authority (TESDA). |
| UK Embassy: | 9a Palace Green, London W8 4QE Tel: 020 7937 1600/ 7361 4641 Fax: 020 7937 2925 |
Fiscal Facts |
|
| Legal tender & currency: | Peso |
| VAT: | 12% |
| Sales Tax: | |
| Import duty: | |
| Export duty: | |
| Banking: | International |
| Annual Government Revenue: | $26.75 billion |
| Annual Government Expenditure: | $28.2 billion (2008 est.) |
| GDP: | 144,129 US$ million (world bank 2007) |
| Minimum wage: | 362 peso per day (skilled labour) |
| Financial Services Regulation: | Securities and Exchange Commission |
| Financial Services Regulation Contact Details: | SEC Building EDSA, Greenhills Mandaluyong City, Metro Manilla PHILIPPINES Tel: (63 2) 727 4393 Fax: (63 2) 721 2939 |
Tax Facts |
|
| General: | Double tax treaties with: Australia, Austria, Bahrain, Bangladesh, Belgium, Brazil, Canada, China, Czech republic, Denmark, Finland, France, Germany, Hungary, India, Indonesia, Israel, Italy, Japan, Korea, Malaysia, Netherlands, New Zealand, Nigeria, Norway, Pakistan, Poland, Qatar, Romania, Russia, Singapore, Spain, Sweden, Switzerland, Taiwan, Thailand, United Arab Emirates, Thailand, United Kingdom, USA, Vietnam |
| Corporate Tax: | 30% |
| Individual – resident: | 5 – 32% |
| Individual – non-resident: | 25% on gross income derived in the Philippines |
Featured Provider Title of Philippines
Featured Provider Content of Jurisdiction 24
Featured Provider Content of Jurisdiction 24
Featured Provider Content of Jurisdiction 24
Featured Provider Content of Jurisdiction 24
