Comments on: Philippines Corporate Taxation http://www.bcphilippineslawyers.com/philippines-corporate-taxation/524/ Fri, 23 Jul 2010 10:01:55 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: David http://www.bcphilippineslawyers.com/philippines-corporate-taxation/524/comment-page-1/#comment-2469 David Mon, 08 Mar 2010 14:04:09 +0000 http://www.bcphilippineslawyers.com/?p=524#comment-2469 WE are a foreign company about to sell equipemt to a philipino company. We do not have a local company or any interests in the Philippines. Our quotes price is inclusive of VAT ( 12% ) , Are we subjected to any corporate income tax or any other "witholding tax" David, if you charge VAT you will have to remit it to the Bureau of Internal Revenue, on the other hand if your client is the importer you do not need to charge the VAT as the Bureau of Customs will charge the VAT to your client upon importation. WE are a foreign company about to sell equipemt to a philipino company. We do not have a local company or any interests in the Philippines. Our quotes price is inclusive of VAT ( 12%
) , Are we subjected to any corporate income tax or any other “witholding tax”

David, if you charge VAT you will have to remit it to the Bureau of Internal Revenue, on the other hand if your client is the importer you do not need to charge the VAT as the Bureau of Customs will charge the VAT to your client upon importation.

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