Gov’t tax take seen to drop by 22% in 2020

Tax take from net incomes and profits, which accounts for the bulk of the BIR’s yearly collection, is seen dropping to P786.8 billion this year from P1.15 trillion in 2019.


Hong Kong-Macao tax arrangement in force

For Macao residents, double taxation will be avoided by way of exemption of the income taxed in Hong Kong from the Macao tax, or by crediting the Hong Kong tax paid against the Macao tax payable in respect of the same income.


Global tax guide to doing business in...

This edition of our annual insight piece is aimed at providing a high-level overview of the tax consequences that face businesses planning to expand international operations.