LIVING IN MANILA
Living in Manila, the capital city of the Philippines, can be a unique and exciting experience. Located on the island of Luzon, Manila is a bustling metropolis with a population of over 21 million people. It is known for its rich history, diverse culture, and vibrant nightlife.
One of the first things you'll notice when living in Manila is the traffic. It is notorious for being congested and chaotic, so it's important to allow extra time for commuting. Public transportation options include jeepneys, buses, and taxis, although ride-sharing services like Grab have become increasingly popular in recent years.
Despite the traffic, there are many things to see and do in Manila. The city is home to a variety of museums and cultural attractions, such as the National Museum of the Philippines and the Manila Cathedral. The Intramuros, a historic walled city, is also a popular tourist destination.
For shopping and dining, there are plenty of options in Manila. The city has a mix of modern malls and street markets where you can find everything from local handicrafts to international brands. When it comes to food, Manila is a paradise for foodies. There is a wide variety of local and international cuisines to choose from, ranging from Filipino street food to fine dining restaurants.
One of the biggest attractions of living in Manila is the cost of living. The city has a lower cost of living compared to other major cities in Southeast Asia, making it an attractive destination for expats. However, it's important to note that the cost of living can vary depending on where you live in the city.
Overall, living in Manila can be a rewarding experience. The city has a rich history, diverse culture, and a vibrant atmosphere that make it a great place to call home.
BEST AREAS TO LIVE IN MANILA
Manila, the capital city of the Philippines, is a bustling metropolis with a population of over 21 million people. It is known for its rich history, diverse culture, and vibrant nightlife. If you're planning on living in Manila, you'll want to choose an area that fits your lifestyle and budget. Here are some of the best areas to live in Manila:
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Makati City: Located in the center of Metro Manila, Makati City is a popular choice for expats and locals alike. It is known for its upscale shopping malls, international schools, and modern high-rise buildings. The cost of living in Makati City is higher compared to other areas of Manila, but it is considered to be a safe and convenient place to live.
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Bonifacio Global City (BGC): Located in the Taguig City area, BGC is a modern and upscale neighborhood with a mix of residential and commercial buildings. It is home to several international embassies and multinational corporations, making it a popular choice for expats. The cost of living in BGC is higher compared to other areas of Manila, but it is considered to be a safe and convenient place to live.
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Quezon City: Located in the north of Metro Manila, Quezon City is the largest city in the Philippines by land area. It is known for its University of the Philippines campus and its many parks and green spaces. The cost of living in Quezon City is lower compared to Makati City and BGC, making it a more budget-friendly option.
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Alabang: Located in the Muntinlupa City area, Alabang is a popular residential neighborhood for expats and locals. It is known for its upscale gated communities and shopping malls, as well as its proximity to the international airport. The cost of living in Alabang is lower compared to Makati City and BGC, making it a more budget-friendly option.
Ultimately, the best area to live in Manila depends on your personal preferences and budget. Makati City and BGC are popular choices for expats due to their convenience and safety, but they tend to be more expensive. Quezon City and Alabang are more budget-friendly options, but they may not have the same level of convenience and safety as Makati City and BGC.
The Philippines territorial tax regime
The Philippines has a territorial tax regime, which means that only income earned within the Philippines is subject to tax. Income earned outside of the Philippines is generally not subject to tax in the Philippines.
Under the territorial tax regime, all types of income, including wages, salaries, dividends, and business income, are subject to tax if they are earned within the Philippines. However, certain types of income may be exempt from tax or may be subject to special tax rates.
In the Philippines, individual taxpayers are taxed based on their taxable income, which is calculated by subtracting allowable deductions and exemptions from their total income. The tax rates for individual taxpayers range from 5% to 32%, depending on the amount of taxable income.
Corporate taxpayers in the Philippines are taxed at a flat rate of 30% on their taxable income. However, certain types of corporations, such as small and medium enterprises and cooperatives, may be eligible for lower tax rates.
In addition to income tax, the Philippines also imposes value-added tax (VAT) on the sale of goods and services. VAT is levied at a rate of 12% on the value of taxable transactions. There are certain exemptions and zero-rated transactions that are not subject to VAT.
Overall, the territorial tax regime in the Philippines generally only applies to income earned within the country. However, there are certain exceptions and special tax rates that may apply to certain types of income and taxpayers. It's important to consult with a tax professional to understand your tax obligations in the Philippines.
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