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Philippines Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
104,256,076 (July 2017 est.)
GDP (PPP)
$875.6 billion (2017 est.)

GDP growth rate
6.7% (2017 est.)

High and stable

GDP (PPP) per capita
$8,300 (2017 est.)

Very low

Local currency
Philippine peso (PHP)

The currency devalued not dramatically but constantly since 2013

Financial stability (Public debt)
37.8% of GDP (2017 est.)

Medium to low and shrinking

Inflation
3.2% (2017 est.)

Healthy rate for a fast-growing emerging market

Language
Filipino, English

Corruption perception index (Source: Transparency International)
111/180

Very high level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT

12% standard rate
Corporate Tax

30% standard rate
Duties

The Philippines adopts the World Trade Organization (WTO) Valuation Agreement, where the declared invoice price is used as the basis for determining customs duties

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