, the index ranked jurisdictions around the globe based on the complexity of their business environments, covering three areas: accounting and tax; global entity management; and payroll and human resources. The higher the rank, the more complex its business environment.
Among the 14 jurisdictions in the Asia-Pacific, the Philippines had the sixth most complex business environment with a “medium” complexity rating. It is likely to become more appealing to operate in and likely to introduce greater laws and regulations relating to economic substance requirements, the report said.
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