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by benzayb
1796 days ago
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Here in the Philippines, filing tax returns are not a problem. If you're an employee, your employer does it for you. The employer just deducts the tax owed by each employee, and pays it to the government every quarter. The total tax amount owed per month may vary from 10k USD (10 to 20 employees) to 20K USD (20 to 50 employees). But the catch is: If the taxman is corrupt (highly likely), and the officer-in-charge of the remittance of such withheld taxes is also corrupt (not improbable), do not expect that the full tax amount will end up in government's coffers. Both parties will pocket a "small" percentage of it, per quarter, every year. This scenario is highly likely for offshore companies, where the real owners are outside (e.g. US, Europe) and there's a "trusted" individual (or group of people) that does the "administrative" stuff for the company. Crazy. |
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