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My “Control Center:” I don’t use a wide variety of cleaning supplies, and I have never been that picky about brands.
So why do so many expats get the idea to start a business here, only to learn this lesson the hard way? After finding a wonderful young Filipina wife and having a few kids.. He’s got plenty coming in from his social security, retirement or pension funds and has lots and lots of time on his hands to enjoy his family and home life. He looks around and sees so much opportunity here in the Philippines. One rule for instance is that if you make a certain amount of revenue in the previous year, but then the following year..
So that puts a lot of demand on taxes from the business sector. Entire business projects have been placed on hold for years in order to find a resolution to relocating Squaters from a given area that they’ve claimed in mass numbers.
Surely, with his extra dough and creative mind he could start up a small business that would occupy some of his time while making him some extra dough on the side. There are less obstructions than you would run into than say, starting a business in the U. Very little regulation except when it comes to the BIR. Otherwise, it’s assumed you earned at least as much as last year if not more and your tax remains level. But a Filipino friend of mine has a hell of a time getting any deductions because the system is not oriented to reduce taxes. When you look at the big picture it makes sense that the Philippines is so incredibly focused on monitoring every peso made.
He starts to think even larger and figures he will fund a business and employ some of his wife’s relatives who always seem to be in need of some cash. They are not interested in you ever paying less tax. Another thing about the BIR is that they are not so keen on the idea of deductions. It really is a tax-hungry beast that demands it’s pound of flesh. In most countries much of the tax revenue is carried by property tax.
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And if you ask for an audit, they will want a receipt for LITERALLY every.. But here, even though everyone pays property tax who owns land..