Search results
Results from the WOW.Com Content Network
However, income tax also becomes a factor to income inequality because according to the Tax Management Association of the Philippines, Filipino workers pay the highest income tax in the entire Association of South-East Asian Nations (ASEAN) region. [69] An average Filipino worker is taxed 32% as long as he is earning more than the minimum wage.
In the Philippines, there are employers' confederations to lobby the protection of firm owners; they also represents the business sector and employers in the country. The most widely known is the Employers' Confederation of the Philippines, which is leads as the voice of the employers in labor management and socioeconomic development. [43]
Interest income from a depository bank under the expanded foreign currency deposit system is taxed at the rate of 15%. [3] Income from long-term deposits and investments, when pre-terminated in less than three years after making such deposit or investment, is taxed at the rate of 20%; less than four years, 12%; and, less than five years, 5%. [2]
A bakery is an establishment that produces and sells flour-based baked goods made in an oven such as bread, cookies, cakes, doughnuts, bagels, pastries, and pies. [1] Some retail bakeries are also categorized as cafés , serving coffee and tea to customers who wish to consume the baked goods on the premises.
Filipino women often fill "the demand for unskilled, low-paid domestic work in high-income countries". [23] They are encouraged to take these overseas jobs due to high unemployment rates in the Philippines and the economy benefiting from remittances. [25] [26]
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund .
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
This is a list of regions and highly urbanized cities of the Philippines by GDP and GDP per capita according to the data by the Philippine Statistics Authority. [ 1 ] [ 2 ] Data for 2023 estimates (international US$ using 2023 PPP conversion factor from the International Monetary Fund ).