Analysis Of Pestle Analysis In The Philippines
Chapter 6
INDUSTRY ANALYSIS
PESTEL Analysis
Political Factor
Since this is a startup business, the political factors we consider include, tax rates, sales tax, property tax, act of legislation and the stability of Philippines. There are some things to be considered when operating a business. The business must be registered first with the DTI, Mayor’s Office and also BIR. The BIR and Mayor’s Office will be the basis for the payments of the taxes of the business locally and nationally. These taxes include income taxes which are levied upon every business of every industry and are based on the structure of the entity, VAT wherein 12% must be collected on the firm and also percentage tax which is computed as a percentage of the sales.
Some policies of the local government could affect the industry. This includes Republic Act No. 7160 also known as the "Local Government Cod of !991 wherein local governments could grant tax exemptions, incentives or reliefs to a business if it is necessary. This RA could affect the business in terms of tax of the firm.New start up business can be excluded from giving a minimum wage to their employees and would only last for a year.
Economic Factors
The Philippine economy is progressively increasing according to the World Bank Org. According to the date compiled by CNN Money, the Philippines is projected to be the fourth fastest in the world, that has a GDP at 6.7%. It is projected that the Philippines economy is higher than Bangladesh
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