Frequently Asked Questions

How does CBOS Bookkeeping works.

We are using web based accounting software and taxation software to do our bookkeeping service. 

  1. Send documents to CBOS in hard copies or Excel file.
  2. Once the documents is received CBOS will acknowledge the same and will be in QUE waiting to be dispatched to a Bookkeeper.
  3. We are using “First in – First Out method ” of dispatching and should be finished within 3 days upon received of documents. 
  4. Once all data are recorded, CBOS staff will send DRAFT copy of the return to client for approval. 
  5. Once Approved, payment will be collected and pay the same to BIR Accredited bank. 
  6. After full payment, all copies are scanned in digital copy and uploaded in Client portal.
Call us to know about our Services . . .
How to avail of Other CBOS Services ?
  • Ask a quotation
  • Accept the quotation
  • Quotation will be converted to billing
  • Pay the billing due
  • Ticket will be created to start the task

 

Talk to us to know more about services  . . .
How to use our Support System.

CBOS support team is always there for you. We are using “FRESHDESK” to support our Clients.

  • Go to “Freshdesk.com” and log-in
  • All task are updated and monitored in the ticket system. 
  • All task are categorize as LOW, MEDIUM, HIGH, URGENT. 
  • We follow “First-in and First-out” method. 

 

Call us to know more about our Services . . .
The 10th Foreign Investment Negative List (FINL)

Executive Order No. 184 or The 10th Regular Foreign Investment Negative List (FINL) provides information on economic activities which are reserved to Filipino nationals and areas of investment where foreigners can participate in.

The FINL consists of List A and B. List A contains areas of investment where foreign ownership is limited by mandate of the Philippine Constitution or by specific laws. List B contains areas of investment where foreign ownership is limited for reasons of security, defense, risk to health and morals, and protection of local small-and-medium enterprises (SMEs).

LIST A

  1. No Foreign Equity
  • Mass media except recording
  • Practice of Professions
    • Pharmacy
    • Radiologic and x-ray technology
    • Criminology
    • Forestry
    • Law
  • Retail trade enterprises with paid-up capital of less than US$ 2,500,00
  • Cooperatives
  • Private Security Agencies
  • Small-scale Mining
  • Utilization of Marine Resources in archipelagic waters, territorial sea, and exclusive economic zone as well as small-scale utilization of natural resources in rivers, lakes, bays, and lagoons
  • Ownership, operation, and management of cockpits
  • Manufacture, repair, stockpiling, and/or distribution of nuclear weapons
  • Manufacture, repair, stockpiling, and/or distribution of biological, chemical and radiological weapons, and anti-personal mines (various treaties to which the Philippines is a signatory and conventions supported by the Philippines)
  • Manufacture of firecrackers and other pyrotechnic devices

Up to Twenty Percent (20%) Foreign Equity

  • Private radio communication network

Up to Twenty-Five Percent (25%) Foreign Equity

  • Private recruitment, whether for local or overseas employment
  • Contracts for the construction and repair of locally-funded public works, except:
    • Infrastructure/development projects covered in RA 7718; and
    • Projects which are foreign-funded or assisted and required to undergo international competitive bidding of contracts for construction of defense-related structure

Up to Thirty Percent (30%) Foreign Equity

  • Advertising

Up to Forty Percent (40%) Foreign Equity

  • Exploration, development, and utilization of natural resources
  • Ownership of Private Lands
  • Operation and management of public utilities
  • Educational institutions other than those established by religious groups and mission boards
  • Culture, production, milling, processing, trading except retailing, of rice and corn and acquiring, by barter, purchase or otherwise, rice and corn and the by-products thereof
  • Contracts for the supply of materials, goods and commodities to government-owned or controlled corporation, company, agency or municipal corporation
  • Facility operator of an infrastructure or a development facility requiring a public utility franchise
  • Operation of deep sea commercial fishing vessels
  • Adjustment companies
  • Ownership of condominium units

LIST B

Up to Forty Percent (40%) Foreign Equity

  • Manufacture, repair, storage, and/or distribution of products and/or ingredients requiring Philippine National Police (PNP) clearance:
    • Firearms (handguns to shotguns), parts of firearms and ammunition therefore, instruments or implements used or intended to be used in the manufacture of firearms
    • Gunpowder
    • Dynamite
    • Blasting supplies
    • Ingredients used in making explosives
      • Chlorates of potassium and sodium
      • Nitrates of ammonium, potassium, sodium barium, copper (11), lead (11), calcium and cuprite
      • Nitric acid
      • Nitrocellulose
      • Perchlorates of ammonium, potassium and sodium
      • Dinitrocellulose
      • Glycerol
      • Amorphous phosphorus
      • Hydrogen peroxide
      • Strontium nitrate powder
      • Toluene
    • Telescopic sights, sniper scope and other similar devices

However, the manufacture or repair of these items may be authorized by the Chief of the PNP to foreign nationals; provided that a substantial percentage of output, as determined by the said agency, is exported and the extent of foreign equity ownership allowed shall be specified in the said authority/clearance.

  • Manufacture, repair, storage, and/or distribution of products requiring Department of National Defense (DND) clearance;
    • Guns and ammunition for warfare
    • Military ordnance and parts thereof (e.g., torpedoes, depth charges, bombs, grenades, missiles)
    • Gunnery, bombing, and fire control systems and components
    • Guided missiles/missile systems and components
    • Tactical aircraft (fixed and rotary-winged), parts and components thereof
    • Space vehicles and component systems
    • Combat vessels (air, land, and naval) and auxiliaries
    • Weapons repair and maintenance equipment
    • Military communications equipment
    • Night vision equipment
    • Stimulated coherent radiation devices, components, and accessories
    • Armament training devices
    • Others as may be determined by the Secretary of the DND

However, the manufacture or repair of these items may be authorized by the Secretary of National Defence to foreign nationals; provided that a substantial percentage of output, as determined by the said agency, is exported and the extent of foreign equity ownership allowed shall be specified in the said authority/clearance.

  • Manufacture and distribution of dangerous drugs
  • Sauna and steam bathhouses, massage clinics and other like activities regulated by law because of risks posed to public health and morals
  • All forms of gambling, except those covered by investment agreements with PAGCOR
  • Domestic market enterprises with paid-in equity capital of less than the equivalent of US$200,000
  • Domestic market enterprises which involve advanced technology or employ at least fifty (50) direct employees with paid-in equity capital of less than the equivalent of US$100,000

Domestic Market Enterprise

A Domestic Market Enterprise is an enterprise which provides services or produces goods for sale for the domestic market or exports less than sixty (60%) percent of its products/goods or services abroad.

Export Market Enterprise

As a general rule, there are no restrictions as to the extent of foreign ownership of an Export Enterprise so long as the enterprise exports at least sixty (60%) percent of its products/goods or services abroad.

Retail

Under the Retail Trade Liberalization Law, retailing may be fully foreign owned provided that the minimum paid-up capital of US$2,500,000.00 is met. A paid-up capital less than US$2.5M is reserved for Filipino citizens.

Can foreign nationals own 100% of a domestic enterprise?

Foreign nationals can own as much as one hundred (100%) percent equity of a domestic enterprise if the business activities that the enterprise will be engaging in is not part of the 10th FINL and paid-up capital is at least US$200,000. The paid-up capital may be lowered to US$100,000 if the business activities falls under advanced technology or if the enterprise shall directly employ at least fifty (50) employees.

Contact our team for Xero accounting solutions at (032) 416 -1296