Atty. Romeo H. Duran of Sapalo Velez Bundang & Bulilan explains how transactions involving software are taxed in the Philippines. The Intellectual Property Code defines the term “copyright or economic rights” as consisting of the exclusive right to carry out, authorise or prevent the following acts:
Foreign nationals or investor companies thinking of opening a business in the Philippines are well advised to know whether the planned business activity would constitute “doing business” in the Philippines as defined under Philippine law. Under the Foreign Investments Act (FIA) of 1991 the term “doing business” includes: soliciting orders, service contracts, opening offices, whether…