Typhoons in the Philippines Typhoons in the Philippines Approximately twenty tropical cyclones enter the Philippine Area of Responsibility yearly, an area which incorporates parts of the Pacific Ocean, South China Sea and the Philippine Archipelago (with the exception of Tawi-Tawi province). Among these cyclones, ten will be typhoons, with five having the potential to be destructive ones. The Philippines is "the most exposed country in the world to tropical storms" according to a Time Magazine article in 2013. In the Philippine languages, typhoons are called "bagyo". Typhoons can hit the Philippines any time of year, with the months of June to September being most
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