Despite the onslaught of the COVID-19 pandemic, the Philippine government has been actively improving its ability to cater to more foreign direct investments (FDIs) to help boost and recover the country’s economy.
CREATE Act
In the Philippines, registered corporations are required to file taxes to two government bodies: 1) the Bureau of Internal Revenue (BIR) or the national taxation authority; and 2) the local government unit (LGU) where their business is located.