May 30, 2014

Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through – Anti-Money Laundering 2014, (published in May 2014; contributing editors: James G Tillen and Laura Billings of Miller & Chevalier Chartered) For further information please visit www.GettingTheDealThrough.com.

May 29, 2014

In this column published on Nov. 13, 2013, I talked about the 30-notch quantum leap in the overall rating of the Philippines in the 2014 Doing Business Report. The Report is an annual project of the World Bank and International Finance Corp. and attracts much attention around the world. The latest edition received nearly 6,000 media citations within two weeks of its publication. The coverage... Read More

May 27, 2014

YEAR AFTER year, militants representing hundreds of employees in the country storm the streets of the Metro to go toe-to-toe with authorities to cry for wage increases, and claim discrimination, exploitation, and unfair labor practices. As far as the militants are concerned, the government has not provided anything for the Filipino worker as the socioeconomic conditions of the working class... Read More

May 21, 2014

WITH THE overflowing posts of selfies, groupies, tweets, shout-outs and what-have-you’s... it seems that the world has adhered to the culture of full disclosure. With this trend, one cannot help but ask... what should I keep secret? The US Congress enacted in 2010 the Foreign Account Tax Compliance Act (FATCA) with the aim of preventing off-shore tax abuses by US taxpayers. Among others, FATCA... Read More

May 15, 2014

On Oct. 22, 2013, the Financial Rehabilitation Rules of Procedure went into effect. The FR rules were approved by the Supreme Court on Aug. 27, 2013, to implement the provisions on rehabilitation contained in RA 10142, or “The Financial Rehabilitation and Insolvency Act of 2010” (FRIA). The FR rules introduce drastic changes to the old rules on rehabilitation, one of which relates to... Read More

May 13, 2014

EVERYTHING can be done with a click of a button. If I want to shop, all I have to do is browse through the online shop of my favorite store. If I want to get lunch, I can just order through a restaurant’s website. If I want to make an appointment for a massage, I just have to send a text. So why can’t sending notices of meetings to stockholders or directors be that easy? In an effort to adapt to... Read More

May 06, 2014

THERE ARE only two things certain in life: Death and Taxes. So said old Ben Franklin. While you are alive and earning any form of income, legal or otherwise, you are subject to several types of taxes. For individuals, among the most common are the following: regular schedular income tax for income earned; withholding taxes, which may be final or creditable; percentage taxes; and, as end consumers... Read More

May 01, 2014

Social networking has become part of our daily life with 93 percent of Filipino Internet users having their own Facebook account. On the whole, this is an excellent social phenomenon. But there is also a bad part of it. Consider, for example, a Facebook post by Mr. Y that reads: “Senator X is a crook. He stole millions of taxpayers’ money from the PDAF. He is a certified thief. He deserves all... Read More