Eternity Law International Ready-made company in the Philippines

Ready-made company in the Philippines

April 28, 2020

What is included:

  • Ready-made company in Philippines,
  • Local bank account,
  • Legal address

Cost: on request.

A company is considered local if it is registered in the Philippines or if it is registered outside the Philippines, but has a branch in the Philippines.

Local companies are taxed on income received both domestically and abroad. Foreign companies are taxed only on income from the Philippines.

A foreign company with a subsidiary in the Philippines is taxed on income of Filipino origin.

Corporate tax is levied on the profits of the company, which usually consists of income derived from the direct activities of the company.

Ordinary business expenses can be deducted in calculating taxable income.

Instead of a standard deduction of expenses, local companies can switch to the Optional standard of expenses’ deduction.

This standard allows you to deduct up to 40% of total gross income when calculating taxable income for a taxable period.

Decisions to switch to this deduction system cannot be revoked during the tax year for which the declaration is filed.

The standard corporate tax rate is 30%. An additional 10% income tax applies to incorrectly accumulated profits.

The minimum tax rate, equal to 2% of gross income, is charged both from local companies and from foreign ones.

However, this benefit is only possible starting from the fourth taxable year of activity. The minimum rate is applied in three cases:

1) the company has no income,

2) has negative taxable income,

3) when the amount of the minimum tax exceeds the usual corporate tax liability of the company.

Any minimum tax that exceeds the regular income tax can be carried forward to the next period and credited to the regular income tax account over the next three taxable years.

The employee is required to make monthly contributions to the social security system, depending on his salaries. The employer is also required to make contributions for employees.

VAT is levied on most sales of goods and services. Sale and import of certain goods and services is subject to 12% VAT. Some sales have a zero rate.

The obligation to register as a VAT payer arises after reaching a turnover of 3 million PHP.

A tax report can be filed either manually or through an electronic filing and payment system. Deadline: 20-25 day of the month following the reporting one.

Or the 25th day of the quarter following the reporting taxable quarter.

The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.

You could be interested

Ready-made company in Brazil

What is included: Ready-made company in Brazil, Account at a local bank, Legal address Company type: Limited liability company (LTDA). Cost: on request. National Currency: Brazilian Real (BRL). In Brazil, there are two main types of companies – a limited liability company (LTDA) and a joint stock company (SA). Branches and permanent establishments are not...


1. The year of registration of the company: 2010 2. The year of obtaining a license: 2010 3. Type of license: SRO License (basic license regarding AML) 4. Activities covered by the license: different activities like ASSET MANAGEMENT, Trust Services etc. 5. Current amount of the share capital: Nominal Share Capital CHF 100,000 6. Office:...

X Ray Baggage Scanner Company for sale

This family-owned company is engaged in the production of X-ray machines, as well as products for the security, health care, sanitation and industrial sectors. The business is ranked as Top Tier Local Supplier according to India’s Manufacturing Index. Business is profitable. Also, this firm has its own investigation and technical expanding structure, which consists of...

Mobilization Funding for sale 

Funding Mobilization pathways provide the amount of capital needed to cover costs before a project starts or is billed. This account may include the following: handover of related operating equipment and workers, installation of equipment at the site designated for the construction site, accommodation work, insurance services and payroll. You will be able to calculate...

Licensed crypto company in Lithuania for sale 

Eternity Law International is pleased to present to your attention a ready-made licensed crypto company in Lithuania for sale with an open bank account. The package includes: License: cryptocurrency and wallet exchange operator. *Year of incorporation – 2022; *Active bank account in Lithuanian EMI; *The company did not conduct any activity, no debts; *Legal address...

Bank in Dominica for sale

We offer a bank in Dominica for sale. Below you can see basic information about the bank. Bank in Dominica for sale – what’s included: Banking and trust license; Correspondent banking agreement with UK provider for EUR and GBP IBAN issuing; Bank works with EUR and GBP mainly (multicurrency agreement underway); SEPA is supported (SWIFT...
Fill the blank:


Dreikonigstrasse, 31A, Stockerhof


Baseina street, 7


Grosvenor Gardens, 52

New York

1178 Broadway, 3rd Floor #3353 New York, NY 10001


Gediminas Avenue, 44A


Kesklinna linnaosa, Tuukri 19


Lochrin Square, 1


Jacovides Tower, 5 floor


Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai


Level 42, Suntec Tower Three, 8 Temasek Boulevard


20 Martin Place


2609 Avenida da Boavista


Revaz Tabukashvili Str., N 45, area N 7