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Thursday, July 28, 2011

Doing Business in the Philippines - A World Bank Report

 This is copy of the World Bank Report on Doing Business for the Philppines.  The beauty about this report is that it should jolt the Philippine leadership to wake up and rise in rankings, from three digit to two digits.  Perhaps the next speech of the Philippine leader must state that as a clear goal to aspire for.  Henceforth, in five years time, RP shoud be # __ in the World Bank report. In the absence of clear metrics and goals, then it is just talk...

Philippines Ease of Doing Business in
Philippines

This page shows summary Doing Business 2011 data for Philippines. The first table lists the overall "Ease of Doing Business" rank (out of 183 economies) and the rankings by each topic. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region East Asia & Pacific
Income Category Lower middle income
Population 91,983,102
GNI Per Capita (US$) 1,790.00
Doing Business 2011 Rank Doing Business 2010 Rank Change in Rank
148 146 down -2
Topic Rankings DB 2011 Rank DB 2010 Rank Change in Rank
Starting a Business 156 162 up 6
Dealing with Construction Permits 156 124 up -32
Registering Property 102 102 No change
Getting Credit 128 125 up -3
Protecting Investors 132 131 up -1
Paying Taxes 124 133 up 9
Trading Across Borders 61 68 up 7
Enforcing Contracts 118 118 No change
Closing a Business 153 153 No change

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Doing Business Resources

Business Reform Summaries

Business reforms in Philippines
Case Studies for Philippines

Doing Business law library Law Library

Search for business laws and regulations in Philippines

 Contributors

See who contributed to Doing Business 2011

 Get all Data

See historical data sets and trends

Subnational Data




Additional Topics


Related Websites

Starting a Business

Info
DB 2011 Rank 156 DB 2010 Rank 162 Change in Rank up6
Indicator Philippines East Asia & Pacific OECD
15 7.8 5.6
38 39.0 13.8
30.3 27.1 5.3
6.0 50.6 15.3
No. Procedure Time to Complete Associated Costs
1 Verify and reserve the availability of the company name with the Securities and Exchange Commission (SEC) 1 day PHP40
2 Deposit paid-up capital in the Authorized Agent Bank (AAB) and obtain bank certificate of deposit 1 day no charge
3 Notarize articles of incorporation and Treasurer's affidavit with notary public 1 day PHP500
4 Register company with the Securities and Exchange Commission 3 days (PHP 1,667.99 filing fee equivalent to 1/5 of 1% of the authorized capital stock or the subscription price of the subscribed capital stock, whichever is higher but not less than PHP 1,000 + PHP 16.68 legal research fee (LRF) equivalent to 1% of filing fee but not less than PHP 10 + PHP 500 By-laws + PHP 150 for registration of stock and transfer book (STB) required for new corporations + PHP 320 STB + PHP 10 registration for SEC bulletin)
5 Payment of documentary stamp taxes (DST) 1 day PHP1 for every PHP 200 of capital
6 Obtain community tax certificate (CTC) from the City Treasurer's Office (CTO) 1 day PHP 500
7 Obtain Barangay clearance 2 days PHP 800
8 Obtain mayor’s permit to operate at the Licensing Section of the Mayor's Office 1 day The fees vary depending on the local government unit (city/municipality) issuing the mayor’s permit (PHP 900, sanitary permit fee + 0.2% of capital for license fee + PHP 2000, permit fee for businesses engaged in retail + PHP 2,500 garbage collection fee + PHP 360, occupational tax + PHP 905, occupational police clearance/health clearance + PHP 1,500, plumbing inspection fee + PHP 850, electrical inspection fee + PHP 500 building permit fee + PHP 400 sign board permit fee)
9 Buy special books of account at bookstore 1 day PHP 400
10 Register for taxes at the Bureau of Internal Revenue (BIR) 2 days PHP 500 (registration fee) + PHP 100 (certification fee) and PHP 15 (documentary stamp tax, in loose form to be attached to Form 2303)
11 Obtain the authority to print (ATP) receipt/invoices from the Bureau of Internal Revenue (BIR) 1 day included in procedure 9
12 Print receipts and invoices at the print shops accredited by the BIR 14 days PHP 4,000 (between PHP 3,000 and PHP 5,000)
13 Have books of accounts and Printer’s Certificate of Delivery of Receipts and Invoices (PCD) stamped by the BIR 1 day no charge
14 Initial registration with the Social Security System (SSS) 1 week no charge
15 Complete registration with SSS and Philippines Health Insurance Company (PhilHealth) 1 day no charge
Explore Economy Data
PHILIPPINES SLID DOWN TWO RUNGS FROM 2O10 TO 2011.(from l46 to l48 out of l83 countries)

I have personally experienced the growing difficulty in doing business, as A Filipino in the Philippines
"Every generation needs a revolution an ENTREPRENEURIAL REVOLUTION."
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