Mexican settlement in the Philippines territory subject to the designs of Washington, D.C. During the Spanish period, the islands formed part of the Viceroyalty of New Spain, coupled with other areas of the Pacific Ocean such as the Marianas and the Caroline Islands and during a short period in northern Taiwan. The Spaniards made trade routes from Mexico to the Philippines, the main ports of Mexico today to start their starting points were Acapulco and Puerto Vallarta with their final destination to Manila, the current capital of the Philippines. The Spanish ships on these routes were known as the Manila galleons. After the arrival of
Taxation in the Philippines goods, services and transactions are exempted from the VAT: Percentage tax is a business tax imposed on persons or entities/transactions: Excise taxes apply to goods manufactured or produced in the Philippines for domestic sales or consumption or for any other disposition and to things imported. One of main sources of revenues of the local government units is the real property tax, which is a tax imposed on all types of real properties including lands, buildings, improvements, and machinery. Taxation in the Philippines The policy of ‘’’taxation in the Philippines’’’ is governed chiefly by the Constitution of the Philippines and three