Accounting Blog for Business

In the past two decades, businesses in developed countries have sought operational efficiency through outsourcing. As a result, outsourcing in the Philippines has become a viable option for businesses to reduce overhead costs without compromising quality. To drive the growth of the outsourcing industry, the Philippine government provides incentives for foreign-owned companies to invest in the country. This week, we discuss the benefits of being a Philippine Economic Zone Authority (PEZA)-registered enterprise.

The year 2019 is fast approaching. For the Philippine business sector, this means that the second part of the Philippines’ tax reform initiatives is right around the corner. This year, the Tax Reform for Acceleration Law (TRAIN Law) focused on bringing down personal income taxes. Next year, the proposed Tax Reform for Better and Higher Opportunities (TRABAHO) seeks to modernize the country’s business tax rates.

The Philippines is among the fastest growing economies in the world. Businesses are coming in fast to take advantage of the favorable business climate, the young workforce, and the modernizing technology and infrastructure.

Addressing the challenges faced by audit firms in the Tri-State Area can be a grueling task if you do not have a comprehensive view of the problem at hand. This week, we look at several audit  and accounting practice problems and our recommendations on how you can overcome them.

The Philippines is one of the fastest growing economies in the world. It is an archipelago located in Southeast Asia that has been popular due to numerous tourist spots. Today, it is also gaining reputation because of its resilient and fast growing economy. Many foreign investors are now closely looking at the Philippines as it has significantly improved over the past years and its economic performance has been competent enough to be at par with the other growing countries.

Many business owners from the US, the UK, Canada, and Australia have chosen to outsource their workforce to save in operational expenses. By gaining access to the pool of highly educated, English-speaking talents, foreign businesses outsourcing in the Philippines can reduce overhead costs without compromising quality.

The Philippine government encourages this “offshoring” business activity by incentivizing those companies who will operate on selected areas in the country. Let us walk you through business registration in the Philippines under the Philippine Economic Zone Authority (PEZA) and the benefits you can take advantage of.