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Bpo business plan philippines

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Outsourcing is an agreement in which one company contracts a Service bureau to be responsible for a planned or existing activity that is or could be done internally, [1] [2] and sometimes involves transferring employees and assets from one firm to another. The term outsourcing , which came from the phrase outside resourcing , originated no later than The practice of handing over control of public services to private enterprises , even if on a short-term limited basis, [7] may also be described as "outsourcing". Outsourcing includes both foreign and domestic contracting, [9] and sometimes includes offshoring relocating a business function to a distant country [10] or nearshoring transferring a business process to a nearby country.

A history of the BPO industry in numbers

The Growth of BPO Industry in Philippines - Flatworld Solutions

Filipino and non-Filipino investors can avail of tax incentives and other benefits under any investment laws in the Philippines if they register their businesses with the government agencies mandated to administer them or if they engage in areas of investments that are prioritized by the government. The major laws that provide for the administration of tax and non-tax incentives to local and foreign enterprises in the Philippines are the Omnibus Investments Code of Executive Order No. Executive Order EO was enacted to help promote the entry of foreign direct investments into the country and encourage investors to venture capital on industries and business activities considered as priority areas of development. Businesses can register with the BOI if they meet the eligibility requirements and engage in activities enumerated in the Investment Priorities Plan IPP — which is an annual list of industries and areas of investments eligible for BOI incentives.

How To Start A BPO Business (Step-by-Step Guide)

Last Updated on — Mar 25, am. Not surprising at all—the booming Philippine BPO industry enjoys unstoppable growth, even with the emergence of new technologies aka threats like automation. What does it mean for your business? Outsourcing to the Philippines can benefit you better than keeping all your business processes in-house. Before jumping in, understand everything about business process outsourcing to the Philippines and how to succeed in it.
At the national level, taxes are imposed and collected pursuant to the National Internal Revenue Code, the Tariff and Customs Code, and several special laws. There are four main types of national internal revenue taxes: income, indirect value-added and percentage taxes , excise and documentary stamp taxes, all of which are administered by the Bureau of Internal Revenue BIR. At the local level, governments have some autonomy to impose taxes on business and ownership of real property. There is a territorial system of taxation for foreign corporations and individuals, as well as non-resident citizens. Only Philippine-sourced income is subject to Philippine taxes for the latter group.

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