Business Reforms in Philippines
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Dealing with Construction Permits: The Philippines made dealing with construction permits easier by increasing the transparency of its building regulations.
Paying Taxes: The Philippines made paying taxes easier by introducing an online system for filing and paying health contributions and by allowing for the online corporate income tax and VAT returns to be completed offline.
Starting a Business: The Philippines made starting a business easier by streamlining communications between the Securities and Exchange Commission and the Social Security System and thereby expediting the process of issuing an employer registration number.
Trading across Borders: In the Philippines trading across borders became more difficult because of a new city ordinance restricting truck traffic in Manila.
Dealing with Construction Permits: The Philippines made dealing with construction permits easier by eliminating the requirement to obtain a health certificate.
Getting Credit: The Philippines improved access to credit information by beginning to distribute both positive and negative information and by enacting a data privacy act that guarantees borrowers’ right to access their data.
Paying Taxes: The Philippines made paying taxes easier for companies by introducing an electronic filing and payment system for social security contributions.
Resolving Insolvency: The Philippines adopted a new insolvency law that provides a legal framework for liquidation and reorganization of financially distressed companies.
Starting a Business: The Philippines eased business startup by setting up a one-stop shop at the municipal level.
Dealing with Construction Permits: The Philippines made construction permitting more cumbersome through updated electricity connection costs.
Trading across Borders: The Philippines reduced the time and cost to trade by improving its electronic customs systems, adding such functions as electronic payments and online submission of declarations.
Getting Credit: The Philippines improved access to credit information through a new act regulating the operations and services of a credit information system.
Paying Taxes: The Philippines made paying taxes less costly for companies by reducing the corporate income tax rate.
Resolving Insolvency: The Philippines enhanced its insolvency process by promoting reorganization procedures through the introduction of prepackaged reorganizations and by establishing qualification requirements for receivers.
Trading across Borders: The Philippines reduced the time for importing by upgrading the risk-based inspection and electronic data interchange systems.
Starting a Business: The Philippines made starting a business more difficult by increasing the paid-in minimum capital requirement.