Philippines Philippines The Philippines ( ; or ' ), officially the Republic of the Philippines (), is an archipelagic country in Southeast Asia. Situated in the western Pacific Ocean, it consists of about 7,641 islands that are categorized broadly under three main geographical divisions from north to south: Luzon, Visayas, and Mindanao. The capital city of the Philippines is Manila and the most populous city is Quezon City, both part of Metro Manila. Bounded by the South China Sea on the west, the Philippine Sea on the east and the Celebes Sea on the southwest, the Philippines shares maritime borders with
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