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Tax Reform for Acceleration and Inclusion Law. The Tax Reform for Acceleration and Inclusion Law ( TRAIN Law ), [1] officially designated as Republic Act No. 10963, is the initial package of the Comprehensive Tax Reform Program (CTRP) signed into law by President Rodrigo Duterte on December 19, 2017. [2] The TRAIN Act is the first of four ...
Capital gains from the sale of shares of stock not traded in stock exchange are taxed at the rate of 15%. [ 3 ] Capital gains from the sale of real property are taxed at the rate of 6%, except when such proceeds would be used to construct a new principal residence within eighteen months after the sale of a previous principal residence had occurred.
Qualification rate. 20–30% average passing rate. Website. Supreme Court Bar Admissions. The Philippine Bar Examinations is the professional licensure examination for lawyers in the Philippines. The exam is exclusively administered by the Supreme Court of the Philippines through the Supreme Court Bar Examination Committee. [1]
Sale of low-cost house and lot not exceeding ₱2.5 million; Sales of persons and establishments earning not more than ₱1.5 million annually. Tariffs and duties. Second to the BIR in terms of revenue collection, the Bureau of Customs (BOC) imposes tariffs and duties on all items imported into the Philippines. According to Executive Order 206 ...
A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year. This is similar to nominal GDP per capita but adjusted for the cost of living in each country.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund .