This Guide has been prepared for the assistance of those interested in doing business in the Philippines. It does not cover exhaustively the subjects it treats but is intended to answer some of the important, broad questions that may arise. When specific problems occur in practice, it will often be necessary to refer to the laws, regulations and decisions of the country and to obtain appropriate accounting, tax and legal advice.
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The material contained in chapters 1 to 12 of this Guide was assembled at 31 March 2005 except for Chapter 4 on BOI incentives portion which already reflects updated information on 2005 Investment Priorities Plans issued on 26 April 2005. The taxation material (chapters 13 to 24) has been updated to reflect changes introduced by R.A. No. 9337, which takes effect 1 July 2005. Unless otherwise indicated, it is based on information available at 31 March 2005.