Benjamin Diokno, the Philippines' Budget and Management Secretary, says the Government should secure the passage of all the remaining comprehensive tax reform bills within the next two months.

Lawmakers in the Philippines have endorsed plans for a tax amnesty scheme that will cover estate taxes, general taxes, and delinquent accounts, covering liabilities up to December 31, 2017.

The Commissioner of the Philippines Bureau of Internal Revenue, Caesar Dulay, has said the country will introduce a more stringent audit program in 2019, to further improve the tax take.

The Philippines Government has said that it hopes to secure approval from Congress of the corporate income tax reform package within the next few months.

The Filipino Government has said it is planning to launch its proposed estate tax amnesty next month.

The Philippines' Bureau of Internal Revenue has launched a digital tax payments system.

Representatives of the European Free Trade Association - Iceland, Liechtenstein, Norway, and Switzerland - and the Philippines signed a free trade agreement in the Swiss capital of Bern on April 28.

Having endorsed the deal, the President of the Philippines, Rodrigo Duterte, has forwarded on a bill to ratify the free trade agreement with the European Free Trade Association states to the Senate.

Dengvaxia, manufactured by French pharmaceutical giant Sanofi, secured its first regulatory approval in Mexico a fortnight ago and is currently being

The Philippines' House of Representatives on September 9, 2019, approved two bills to overhaul the rates in place on financial services and passive income.

A regional meeting on tax and digitalisation for Asia and the Pacific , co-hosted by the Asian Development Bank (ADB) in collaboration with the Organisation for Economic Co-operation and Development (OECD), took place in Manila, the Philippines on 19-20 November 2019.

Paris, 26 April 2016: OECD Deputy Secretary-General Douglas Frantz and Adrian Cristobal, Secretary, Department of Trade and Industry, Philippines, OECD Deputy Secretary-General Douglas Frantz and Adrian Cristobal, Secretary, Department of Trade and Industry, Philippines, will present reform successes and remaining challenges as well as strategies for promoting and supporting the recommendations in the report.

Imports from Philippines in Germany decreased to 282116 EUR THO in February from 328007 EUR THO in January of 2020. Imports from Philippines in Germany averaged 200858.22 EUR THO from 2000 until 2020, reaching an all time high of 567669 EUR THO in March of 2019 and a record low of 88674 EUR THO in February of 2009. This page includes a chart with historical data for Germany Imports from Philippines.

Philippines Government Bond Yield 10y was 3.35 percent on Friday May 8, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the Philippines Government Bond 10y reached an all time high of 16.40 in January of 2001. Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.

The Gross Domestic Product per capita in Philippines was last recorded at 3022 US dollars in 2018. The GDP per Capita in Philippines is equivalent to 24 percent of the world's average. GDP per capita in Philippines averaged 1650.73 USD from 1960 until 2018, reaching an all time high of 3022 USD in 2018 and a record low of 1059.50 USD in 1960. The GDP per capita is obtained by dividing the country’s gross domestic product, adjusted by inflation, by the total population. This page provides - Philippines GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Philippines is the 64 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum. Competitiveness Rank in Philippines averaged 67.31 from 2007 until 2019, reaching an all time high of 87 in 2010 and a record low of 47 in 2016. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. In 2018, the World Economic Forum introduced a new methodology emphasizing the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. As a result, the GCI scale changed to 1 to 100 from 1 to 7, with higher average score meaning higher degree of competitiveness. The report is made up of 98 variables organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. This page provides the latest reported value for - Philippines Competitiveness Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Gold Reserves in Philippines remained unchanged at 197.93 Tonnes in the fourth quarter of 2019 from 197.93 Tonnes in the third quarter of 2019. Gold Reserves in Philippines averaged 192.66 Tonnes from 2000 until 2019, reaching an all time high of 274.42 Tonnes in the first quarter of 2003 and a record low of 126.89 Tonnes in the third quarter of 2007. Gold Reserves are country’s gold assets held or controlled by the central bank. This page provides - Philippines Gold Reserves - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Social Security Rate For Employees in Philippines stands at 3.69 percent. Social Security Rate For Employees in Philippines averaged 3.51 percent from 2006 until 2018, reaching an all time high of 3.69 percent in 2014 and a record low of 3.39 percent in 2007. In Philippines, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Philippines because they help to pay for many social programs including welfare, health care and many other benefits. This page provides - Philippines Social Security Rate For Employees - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Terrorism Index in Philippines decreased to 7.14 in 2018 from 7.18 in 2017. Terrorism Index in Philippines averaged 6.71 from 2002 until 2018, reaching an all time high of 7.27 in 2014 and a record low of 5.78 in 2006. The Global Terrorism Index measures the direct and indirect impact of terrorism, including its effects on lives lost, injuries, property damage and the psychological aftereffects. It is a composite score that ranks countries according to the impact of terrorism from 0 (no impact) to 10 (highest impact).

Wages in Philippines increased to 13487.30 PHP/Month in 2018 from 12646 PHP/Month in 2017. Wages in Philippines averaged 8375.27 PHP/Month from 2001 until 2018, reaching an all time high of 13487.30 PHP/Month in 2018 and a record low of 5798 PHP/Month in 2001. This page provides - Philippines Wage Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Agriculture in Philippines decreased to 157624.77 PHP Million in the first quarter of 2019 from 182717.24 PHP Million in the fourth quarter of 2018. GDP From Agriculture in Philippines averaged 142294 PHP Million from 2008 until 2019, reaching an all time high of 182717.24 PHP Million in the fourth quarter of 2018 and a record low of 114778.44 PHP Million in the second quarter of 2009. This page provides the latest reported value for - Philippines Gdp From Agriculture - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Gdp From Services in Philippines increased to 1378389 PHP Million in the second quarter of 2018 from 1216651 PHP Million in the first quarter of 2018. Gdp From Services in Philippines averaged 961387.92 PHP Million from 2008 until 2018, reaching an all time high of 1378389 PHP Million in the second quarter of 2018 and a record low of 675416.60 PHP Million in the first quarter of 2008. This page provides - Philippines Gdp From Services- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Philippines scored 34 points out of 100 on the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Index in Philippines averaged 29.68 Points from 1995 until 2019, reaching an all time high of 38 Points in 2014 and a record low of 23 Points in 2008. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory’s score indicates the perceived level of public sector corruption on a scale of 0 (highly corrupt) to 100 (very clean). This page provides the latest reported value for - Philippines Corruption Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Philippines is the 113 least corrupt nation out of 175 countries, according to the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Rank in Philippines averaged 93.96 from 1995 until 2019, reaching an all time high of 141 in 2008 and a record low of 36 in 1995. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory's rank indicates its position relative to the other countries and territories in the index. This page provides the latest reported value for - Philippines Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

GDP From Transport in Philippines increased to 68310.82 PHP Million in the fourth quarter of 2019 from 67804.54 PHP Million in the third quarter of 2019. GDP From Transport in Philippines averaged 52841.58 PHP Million from 2008 until 2019, reaching an all time high of 84765.58 PHP Million in the second quarter of 2019 and a record low of 34827.71 PHP Million in the third quarter of 2009. This page provides the latest reported value for - Philippines Gdp From Transport - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Corporate Tax Rate in Philippines stands at 30 percent. Corporate Tax Rate in Philippines averaged 31.63 percent from 1997 until 2020, reaching an all time high of 35 percent in 1997 and a record low of 30 percent in 2009. In Philippines, the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. The benchmark we use refers to the highest rate for Corporate Income. Revenues from the Corporate Tax Rate are an important source of income for the government of Philippines. This page provides - Philippines Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Personal Income Tax Rate in Philippines stands at 35 percent. Personal Income Tax Rate in Philippines averaged 32.38 percent from 2004 until 2019, reaching an all time high of 35 percent in 2018 and a record low of 32 percent in 2005. In Philippines, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Philippines. This page provides - Philippines Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Bank Lending Rate in Philippines decreased to 6.54 percent in December from 6.77 percent in November of 2019. Bank Lending Rate in Philippines averaged 12.94 percent from 1976 until 2019, reaching an all time high of 39.73 percent in December of 1984 and a record low of 5.09 percent in February of 2015. In Philippines, the bank lending rate is lower band of the lending rates of interest charged on loans by commercial banks to private individuals and companies. This page provides - Philippines Bank Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Unemployment Rate in Philippines increased to 5.30 percent in the first quarter of 2020 from 4.50 percent in the fourth quarter of 2019. Unemployment Rate in Philippines averaged 8.22 percent from 1994 until 2020, reaching an all time high of 13.90 percent in the first quarter of 2000 and a record low of 4.50 percent in the fourth quarter of 2019. In Philippines, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - Philippines Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The number of employed persons in Philippines decreased to 42653 Thousand in the first quarter of 2020 from 43146.34 Thousand in the fourth quarter of 2019. Employed Persons in Philippines averaged 30909.01 Thousand from 1986 until 2020, reaching an all time high of 43146.34 Thousand in the fourth quarter of 2019 and a record low of 18567 Thousand in the second quarter of 1986. In Philippines, employed persons are individuals with a minimum required age who work during a certain time for a business. This page provides - Philippines Employed Persons - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The number of unemployed persons in Philippines increased to 2390 Thousand in the first quarter of 2020 from 2050 Thousand in the fourth quarter of 2019. Unemployed Persons in Philippines averaged 2798.86 Thousand from 1986 until 2020, reaching an all time high of 4989 Thousand in the second quarter of 2004 and a record low of 1720 Thousand in the third quarter of 1990. In Philippines, unemployed persons are individuals who are without a job and actively seeking to work. This page provides - Philippines Unemployed Persons - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Philippines was worth 355.50 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The GDP value of Philippines represents 0.29 percent of the world economy. GDP in Philippines averaged 86.17 USD Billion from 1960 until 2019, reaching an all time high of 355.50 USD Billion in 2019 and a record low of 4.40 USD Billion in 1962. The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. This page provides - Philippines GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Consumer Credit in Philippines increased to 456.61 PHP Billion in the fourth quarter of 2019 from 414.76 PHP Billion in the third quarter of 2019. Consumer Credit in Philippines averaged 194.19 PHP Billion from 2006 until 2019, reaching an all time high of 456.61 PHP Billion in the fourth quarter of 2019 and a record low of 76 PHP Billion in the first quarter of 2006. This page provides - Philippines Consumer Credit- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Building Permits in Philippines decreased to 37256 in the fourth quarter of 2019 from 40795 in the third quarter of 2019. Building Permits in Philippines averaged 28535.04 from 2001 until 2019, reaching an all time high of 45578 in the third quarter of 2018 and a record low of 16129 in the third quarter of 2001. This page provides - Philippines Building Permits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Employment Rate in Philippines decreased to 94.69 percent in the first quarter of 2020 from 95.46 percent in the fourth quarter of 2019. Employment Rate in Philippines averaged 91.44 percent from 1991 until 2020, reaching an all time high of 95.46 percent in the fourth quarter of 2019 and a record low of 85.60 percent in the second quarter of 1991. In Philippines, the employment rate measures the number of people who have a job as a percentage of the labour force. This page provides - Philippines Employment Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Total Vehicle Sales in Philippines increased to 8093 in February from 6543 in January of 2020. Total Vehicle Sales in Philippines averaged 5561.41 from 2002 until 2020, reaching an all time high of 14182 in December of 2017 and a record low of 993 in May of 2003. This page provides - Philippines Total Vehicle Sales- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Philippines recorded a capital and financial account surplus of 6.56 USD Million in December of 2019. Capital Flows in Philippines averaged 7.49 USD Million from 2005 until 2019, reaching an all time high of 93.66 USD Million in January of 2006 and a record low of -35.31 USD Million in June of 2007. This page provides - Philippines Capital Flows- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Cash Reserve Ratio in Philippines decreased to 12 percent in March from 14 percent in February of 2020. Cash Reserve Ratio in Philippines averaged 19.18 percent from 1986 until 2020, reaching an all time high of 25 percent in December of 1990 and a record low of 12 percent in July of 1999. Cash Reserve Ratio is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves either in cash or as deposits with the central bank. This page provides - Philippines Cash Reserve Ratio- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Wages in Manufacturing in Philippines decreased to 122.31 points in the fourth quarter of 2019 from 123.66 points in the third quarter of 2019. Wages in Manufacturing in Philippines averaged 79.06 points from 1995 until 2019, reaching an all time high of 123.66 points in the third quarter of 2019 and a record low of 48.63 points in the first quarter of 1995. This page provides - Philippines Wages in Manufacturing Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

External Debt in Philippines increased to 83617.93 USD Million in 2019 from 78959.57 USD Million in 2018. External Debt in Philippines averaged 50828.33 USD Million from 1981 until 2019, reaching an all time high of 83617.93 USD Million in 2019 and a record low of 20893 USD Million in 1981. In Philippines, external debt is a part of the total debt that is owed to creditors outside the country. This page provides - Philippines External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Business Confidence in Philippines decreased to 22.30 points in the first quarter of 2020 from 40.20 points in the fourth quarter of 2019. Business Confidence in Philippines averaged 29.54 points from 2001 until 2020, reaching an all time high of 54.90 points in the second quarter of 2013 and a record low of -32.60 points in the fourth quarter of 2001. In Philippines, the Business Expectations Survey covers the top 7,000 Corporations listed on the Philippine’s Stock Exchange. The survey measures firms’ expectations on financing conditions, volume of business activity, employment and expansion plans. The index is computed by subtracting the percentage of firms that answer positively from the percentage that answer negatively. The index varies between -100 and 100; a positive value indicates a favorable view, a negative value shows lack of confidence and zero indicates neutrality. This page provides - Philippines Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Loans To Banks in Philippines increased to 297065.82 PHP Million in February from 287388.24 PHP Million in January of 2020. Loans To Banks in Philippines averaged 224668.56 PHP Million from 2014 until 2020, reaching an all time high of 320071.10 PHP Million in January of 2018 and a record low of 132599 PHP Million in May of 2015. This page provides - Philippines Loans To Banks- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Loans To Private Sector in Philippines increased to 7947957.96 PHP Million in February from 7920155.12 PHP Million in January of 2020. Loans To Private Sector in Philippines averaged 5676570.75 PHP Million from 2014 until 2020, reaching an all time high of 8075568.45 PHP Million in December of 2019 and a record low of 3584899 PHP Million in June of 2014. This page provides - Philippines Loans To Private Sector- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Philippines remained unchanged at 15 BBL/D/1K in December from 15 BBL/D/1K in November of 2019. Crude Oil Production in Philippines averaged 17.84 BBL/D/1K from 1994 until 2019, reaching an all time high of 38 BBL/D/1K in January of 2014 and a record low of 1 BBL/D/1K in January of 1997. This page provides - Philippines Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Banks Balance Sheet in Philippines decreased to 2326 PHP Billion in February from 2622.20 PHP Billion in January of 2020. Banks Balance Sheet in Philippines averaged 923.65 PHP Billion from 1999 until 2020, reaching an all time high of 2622.20 PHP Billion in January of 2020 and a record low of 459.52 PHP Billion in September of 1999. This page provides the latest reported value for - Philippines Banks Balance Sheet - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Consumer Confidence in Philippines decreased to 1.26 points in the first quarter of 2020 from 1.30 points in the fourth quarter of 2019. Consumer Confidence in Philippines averaged -14.91 points from 2007 until 2020, reaching an all time high of 13.10 points in the second quarter of 2017 and a record low of -52.80 points in the third quarter of 2008. In Philippines, the Consumer Expectations Survey covers over 5,000 households of which around 50 percent are from the national capital region Metro Manila. The questions address overall conditions of the economy, household finances and household income. The indicator is computed by subtracting the percentage of firms that answer positively from the percentage that answer negatively. The index varies between -100 and 100; a positive value indicates a favorable view, a negative value shows lack of confidence and zero indicates neutrality. This page provides - Philippines Consumer Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Philippines recorded a Government Budget deficit equal to 3.50 percent of the country's Gross Domestic Product in 2019. Government Budget in Philippines averaged -2.16 percent of GDP from 1988 until 2019, reaching an all time high of 1 percent of GDP in 1994 and a record low of -5.30 percent of GDP in 2002. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Philippines Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Philippines recorded a government debt equivalent to 41.50 percent of the country's Gross Domestic Product in 2019. Government Debt to GDP in Philippines averaged 55.27 percent from 1990 until 2019, reaching an all time high of 74.90 percent in 1993 and a record low of 41.50 percent in 2019. Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields. This page provides - Philippines Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Minimum Wages in Philippines remained unchanged at 537 PHP/day in 2019 from 537 PHP/day in 2018. Minimum Wages in Philippines averaged 314.13 PHP/day from 1989 until 2019, reaching an all time high of 537 PHP/day in 2018 and a record low of 89 PHP/day in 1989. Minimum Wages in Philippines refer to daily minimum wages in non-agriculture sector in the National Capital Region. This page provides - Philippines Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Housing Index in Philippines increased to 11878 PHP/SQ. METRE in the fourth quarter of 2019 from 10130 PHP/SQ. METRE in the third quarter of 2019. Housing Index in Philippines averaged 8351.46 PHP/SQ. METRE from 2002 until 2019, reaching an all time high of 12682 PHP/SQ. METRE in the first quarter of 2018 and a record low of 4889 PHP/SQ. METRE in the fourth quarter of 2002. In Philippines, Housing Index shows the average cost per square meter to construct a new house, including building, electrical, mechanical, plumbing and others. This page provides - Philippines Housing Sales - actual values, historical data, forecast, chart, statistics, economic calendar and news.