For clients that want to do business in the Philippines, we assist in determining the appropriate and tax-efficient operating business or investment vehicle and structure to address the objectives of the investor, as well as related incorporation issues.

Assistance for incentives availment

We help clients evaluate their qualification for incentives under the Board of Investments, the Philippine Economic Zone Authority, the Subic Bay Metropolitan Authority or other special laws. If clients are qualified, we assist them in applying with the concerned government agency for such incentives.

Our assistance covers filing of the application and supporting documents, monitoring the progress of the application, meeting/discussion issues, if any, with regulatory authorities, and securing the approval for such incentives. At the clients’ request, we may also assist in ascertaining their compliance with regulatory requirements (to ensure the continued entitlement to incentives), or in justifying the entitlement to such incentives in the event of a challenge by the BIR or other regulatory agencies.

Corporate organization and registration

For clients that want to do business in the Philippines, we assist in determining the appropriate and tax-efficient operating business or investment vehicle and structure to address the objectives of the investor, as well as related incorporation issues. We help set up the business and register it with concerned government regulatory agencies, such as the Securities and Exchange Commission, the Bureau of Internal Revenue, the Local Government Unit, the Social Security System and the Bangko Sentral ng Pilipinas. We also assist in notifying and/or securing necessary approvals from government regulatory agencies when there are changes in business activities, business status, or tax-type registration.

Corporate restructuring

We render advisory services and assistance on the implementation and in obtaining required government approvals for a client’s plan to undergo various types of corporate restructuring arrangements such as increase or decrease of capital stock, conversion of debt to equity, undergoing equity restructuring or quasi-reorganization, dividend declaration or profit repatriation, or any other amendments to a company’s Articles of Incorporation and/or By-Laws. We also assist in analyzing, implementing and securing required government approvals for mergers, spin-offs of business units, and tax-deferred exchanges/transfers of properties for shares.

Dissolution

Companies planning to cease business operations in the Philippines need to comply with various government requirements. We assist in securing tax clearance; approval of the SEC; officially retiring the business with the city or municipality; and in notifying other concerned government agencies. We also render advisory services with respect to tax and other implications of the liquidation of corporate assets and repatriation of capital, dividends or profits.

Local tax registration

We help clients register their business with the city or municipality (LGU) where the business will be located, including the yearly renewal of Business/Mayor’s permit/ licenses and payment of local taxes. For clients transferring their business operations to another LGU, we offer assistance in retiring their business with the LGU having jurisdiction over their former business address, and in registering with the LGU having jurisdiction over their new business address. For clients who cease business operations, we assist in the filing of an application to retire the business and in securing the corresponding approval from the LGU concerned.

Edward D. Roguel
Partner, Tax Advisory & Compliance; Japan Desk Leader
Edward D. Roguel