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Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...
Time clock. A time clock, sometimes known as a clock card machine, punch clock, or time recorder, is a device that records start and end times for hourly employees (or those on flexi-time) at a place of business. In mechanical time clocks, this was accomplished by inserting a heavy paper card, called a time card, into a slot on the time clock.
The Philippine Economic Zone Authority ( PEZA ), formerly known as the Foreign Trade Zone Authority ( FTZA) and Export Processing Zone Authority ( EPZA ), is a Philippine government agency attached to the Department of Trade and Industry . It was created to help promote investments in the export-oriented manufacturing industry into the country ...
A new income tax law, passed in 1997 and effective 1998, determined residence as the basis for taxation of worldwide income. [166] The Philippines used to tax the foreign income of nonresident citizens at reduced rates of 1 to 3% (income tax rates for residents were 1 to 35% at the time). [167]
Deloitte’s international tax guide states that the islands levy no tax on interest, dividends or corporate income. However, they do impose payroll taxes totaling 10% or 14% on all income above ...
Blogger. Average blogger pay: $0 to start, up to $42,618 per year on average Blogging is perhaps one of the easiest businesses to begin on your own, as all you have to do is start writing. Of ...
Special economic zone. A special economic zone ( SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration.
The Bureau of Internal Revenue[ 2] ( Filipino: Kawanihan ng Rentas Internas, or BIR) is a revenue service for the Philippine government, which is responsible for collecting more than half of the total tax revenues of the government. It is an agency of the Department of Finance and it is led by a Commissioner.