Visa Question Permanent resident ACR pros and cons

I'm in the process of applying for the Permanent Resident ACR Card, currently holding the probationary resident card.

Wondering what others thoughts are pros/cons of the permanent status?

Will I receive a TIN number and be taxed on money sent through WISE to philippine bank account?
Mainly just thinking about any hidden costs or hassle on taxes with a permanent status.

 

An email I received from Wise a few days ago

20 September 2023, your Customer Agreement will be with Wise Pilipinas Inc. instead of Wise Payments Limited.
We had previously sent you an email about the update in your Customer Agreement from Wise Payments Limited to Wise Pilipinas Inc. Following which, if you make a transaction under your Wise Account, our fee will be subject to VAT at the prevailing rate (currently at 12%).

might only be pennies.......if easy money for the lads (in Manila) to stash away it will soon rise above 12%

 

Is this the only country in the world that tries to discourage foriegners from boosting their economy,
Reminds me of the story about the golden goose

 

I am on a 13A Permanent Resident Visa and there is no requirement for me have a minimum US $16,000 in my bank account here. So not sure where you got this from? unless it's part of the SRRV retirement visa?

 

From my experience, with 13A, no TIN needed, just lots of repeat paperwork and travel to either Cebu, Manila, or Illo-Illo for additional fingerprints.

Each visa has different requirements.
Also, exceptions with/without military service.

Best source of up to date requirements is immigration office, recomend going in person and talking.
Then go back a few days later and talk to a different person for a different set of answers.
On the 3rd trip you hope the answers match one of the previous 2, then pray that 2 out of 3 are correct

 

I hope Wise will survive long and prosper. As far as I can tell they are by far the best (cheapest and fastest) way to send money here.
I wouldn't worry too much about the VAT thingy, 12% of 1% fee means additional costs of 1.20 € for every 1,000 € you send over. Hardly worth complaining about.
Save your ire for overseas banks wanting to close accounts for non residents, much bigger issue.

 

https://uk.yahoo.com/finance/news/barclays-debank-british-expats-134809331.html