One more global index measuring national performance, and the Philippines getting a rather mediocre rating. Here the PH ranks 135th out of 183 economies.
"The Paying Taxes list involves measuring all mandatory taxes and contributions imposed on medium-sized firms in a given year. It considers three indicators: the number of tax payments required of businesses, the time given to comply and the total tax rate. ...
"The country, according to the report, requires 47 tax payments from businesses per year, significantly higher than the world average of 28.5. One corporate income tax payment, 36 labor tax payments and social contributions, and 10 for other forms of taxes are mandated. This put the Philippines in 155th place in the tax payment category, its lowest ranking in the report and down from 149th the year before.
"The Philippines, lastly, dropped 11 spots to 129th in the total tax rate category. Taxes now take up 46.5% of firms’ commercial profit, higher than the 45.8% posted last year and the 44.8% world average for 2011. A total of 21% goes to corporate income tax, 11.3% for labor taxes and social contributions, and 14.2% for other taxes."
