Appeared in "Japan Outbound Investment Guide" feature in Asia Business Law Journal (June 09, 2023)
Investment liberalisation and
tax reform in the Philippines
By Atty. Benedicta Du-Baladad
Like any other country in the world, the Philippines was strongly hit by the unexpected shocks and havoc wreaked by the global pandemic. The government partly responded by recalibrating and pursuing fiscal, structural and administrative reforms directed at foreign and local investors. New laws were enacted that further made the country accessible to investments and conducive to starting and doing business.
Earlier, the Philippines passed the Anti-Red Tape Act and the Ease of Doing Business and Efficient Government Service Act to strengthen and facilitate prompt actions to and resolutions of vital government transactions and requisites to do business. The old Corporation Code was also replaced by the Revised Corporation Code after almost four decades to be more updated and competitive in the region. The revision seeks to elevate corporate rules and procedures, especially on governance and social responsibility, to be at par with international best practices and standards, as well as contributing to the ease of doing business in the country.
Read the full article here: https://law.asia/investment-liberalisation-tax-reform-philippines/