Speeding Business Application Processes in the Philippines

Padova, Ted | November 2009
Abstract
Business license renewals and business taxes have been prime revenue sources for Local Government Units (LGU) and the Government of the Philippines. Each year, every city or municipality collects fees for business licenses and their renewal as well as income taxes imposed on employees. The Bureau of Internal Revenue’s (BIR) collections account for approximately 68% of the national budget. A national priority is to ease the process of acquiring or renewing business licenses. In 1992, DTI established the National Economic Research and Business Assistance Center (NERBAC) through Republic Act 7470 to fast-track investment inflows and strengthen the country’s business and investment climate. The Center aims to ease the start-up of businesses. However, by 2006, NERBAC had not achieved much in terms of facilitating investment: the World Competitiveness Report of the same year revealed that the Philippines ranked 49 out of 60 countrie
Citation
Padova, Ted. 2009. Speeding Business Application Processes in the Philippines. © Asian Development Bank. http://hdl.handle.net/11540/2797. License: CC BY 3.0 IGO.
Keywords
Trade Finance
Risk Financing
Regional Development Finance
Public Finance
Infrastructure Financing
Financing of Infrastructure
Financial Security
Financial Intermediation
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Citable URI
http://hdl.handle.net/11540/2797
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