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Originally Posted by unhappy-pinoy  Let me ask you people if you're thinking of going/setting up business in the philippines, is this a good country for business? It was but now a crappy place to invest your money in.
take a look at the Laws of this sorry country;
12% eVAt for your business
20% discount for seniors citizens at the expense of the establishment ( should have been shouldered by the government, but not)
12% tax exemptions for senior citizens but again at the expense of the establishment (which should have been shouldered by the government, but not)
by that last 2 alone, a 32% loss for a business that only has profit margin of 7%... it doesn't take a genius, do the math
Well, it should have been a mutual benefit for the seniors and businesses alike but the government just wants to look good in the face but unfair in practice.
goodluck in your business endeavour here in the Philippines... ill |
You have a very narrow mind to be honest. No offense intended but what kind of business are you talking about anyway? A sari sari store?? They don't even pay taxes! LOL!
I have yet to see many businesses here only make 7% off their product unless your doing some sort of distributorship and then those laws do not apply (the last two your complaining about anyway) and you need not worry. Even distributorships make more than 7% NET PROFIT. Most are around ten percent that I have investigated here.
Also, how about bars here for example. San Miguel Pilsen can be aquired for as little as 15 pesos per bottle if you know how and where to get it. I have heard less than this but I can't confirm this. Now the cheapest bar I have ever been to has a 100% markup on all beer and some are double that depending on popularity or whether it's a specialty beer or not. How can you NOT make money on 100%-200% markups??? And how many seniors com out to a bar and ask a 32% discount? Even then your making a minimum of a 50% markup!
How about housing? Buying and renting properties? How many seniors will be renting from you?
I mean really... You have not thought this through very hard have you? There are a million businesses here to get into and invest into that do not involve senior discounts. You just have to spend more than 10 minutes looking into the laws of this land before you decide to tell every foreigner making tons of money here that it's a bad idea to invest here because you can't see past the taxes.
Us Americans have to worry more about corruption than paying VAT and giving seniors discounts. You are looking into the wrong information my friend and you should really do more research on things before you discredit them entirely.
I apologize if I come accross as abrassive but reading your post from the begining could be considered abrassive to many Filipinos. ;-)
J