The Philippines Is an archipelagic country and consists of about 7,640 islands. Altogether 109 million people are living in the country. Agriculture dominates the country’s economy. It produces almost $900 million a year, making it one of its fastest-growing economies due to its young population and low unemployment rate. The tourism industry is among the sectors that attract foreign investment in the Philippines. The Philippines is also considered a bilingual country. Most of its citizens speak English as a second language, making progression for business, tourists, and immigrants easier.
As a result of international agreements, getting into the domestic market is relatively easy. The payment of taxes is determined by the country of residence of the income producer as long as the tax rate is not greater than 15% in the country of origin as well.