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Filing Corporate Income Tax in the Philippines: A Guide for Foreign Businesses

2025-03-13
The Philippines offers foreign businesses a dynamic market with strategic advantages, but understanding corporate income tax obligations is crucial to maintaining compliance and avoiding financial risks. The country’s tax system, administered by the Bureau of Internal Revenue (BIR), has undergone significant reforms, including the CREATE MORE Act, which reduced corporate income tax rates and introduced new incentives for businesses. Filing corporate income tax is essential for foreign corporations operating in the Philippines to ensure smooth business operations.
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India Briefing

Guide to Advance Tax Filing in India for FY 2024-25

03/13/2025

As the financial year 2024-25 draws to a close, taxpayers in India are gearing up for an important tax compliance obligation—advance tax payment. The final due date for paying 100 percent of the advance tax for FY 2024-25 is March 15, 2025. If an individual’s total tax liability for the year exceeds INR 10,000 (US$114.87), they are required to pay advance tax in accordance with the Income Tax Act, 1961.

China Briefing

China-Portugal Relations: Opportunities in Trade and Investment

03/14/2025

China and Portugal have maintained a strong diplomatic and economic relationship for over four decades, with growing investment and collaboration in sectors like green energy, technology, and infrastructure. The partnership continues to thrive, bolstered by the strategic role of Macao and opportunities in diverse industries such as renewable energy, education, and financial services.

India Briefing

India’s Passport Rules 2025: Key Changes You Need to Know

03/14/2025

India has introduced a series of key changes to its passport regulations in 2025. These reforms aim to streamline the application process, enhance security measures, and bring passport verification in line with international standards. The passport rules are expected to affect individuals across the country while also influencing how businesses operate in an increasingly globalized environment.

Middle East Briefing

Canada and Middle East Trade Opportunities Amidst Looming Trump Tariffs

03/13/2025

Canada is shifting trade focus to the Middle East amid US tariffs, leveraging FTAs and investment agreements to expand in high-growth sectors like agri-food, renewable energy, and technology. Strengthening these partnerships can reduce reliance on the US and secure long-term economic stability.

ASEAN Briefing

Opportunities for Foreign Investors in Cambodia’s Construction Industry

03/13/2025

Cambodia’s economy has demonstrated resilience in the wake of global economic uncertainties, with a GDP growth rate of 5.4 percent in 2024, up from 5.24 percent in 2023. This steady recovery, following the disruptions of the COVID-19 pandemic, underscores the country’s growing economic momentum.

Vietnam Briefing

Selling to the Vietnam Market: Winning Strategies for Foreign Retailers

03/14/2025

Vietnam’s retail market has made notable strides in recent years, significantly benefiting from various government development initiatives and consumer stimulus programs. In this thriving environment, both traditional retail outlets and e-commerce channels are poised for a successful 2025, as Vietnamese consumers increasingly favor the combination of the in-store experience alongside the convenience of online shopping.

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Malaysia’s Semiconductor Growth: Can it Move up the Value Chain?

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From Carney to Poilievre: How Leadership Changes May Shape China-Canada Trade and Business

03/17/2025

As Mark Carney becomes the new Canadian Prime Minister, the country's relations with China face a reset, with profound implications for trade and business.

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India

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India’s Digital Competition Bill Advances with Industry Insights

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India is assessing stakeholder feedback on its Draft Digital Competition Bill, underscoring its aim to establish balanced legislation and equitable digital market practices.

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Vietnam

Vietnam Briefing

Vietnam's National Action Plan for Circular Economy by 2035: Key policies and business opportunities

03/17/2025

Vietnam has unveiled its National Action Plan for Circular Economy (NAPCE) until 2035, approved under Decision No. 222/QĐ-TTg on January 23, 2025. The plan aims to shift the country toward sustainable production and consumption models, optimizing natural resource use, reducing waste, and enhancing environmental protection.

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Middle East

Middle East Briefing

Türkiye's Free Zones Exports Goal by 2025: Key Sectors, Benefits, and Investment Opportunities

03/14/2025

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