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Archive

September 30, 2014

IT IS WELL-KNOWN that Philippine court dockets are heavily congested. The National Statistical Coordination Board has reported that lower courts have to handle more than one million cases in a year or an average of around 4,221 cases per working day. While the total inflow of cases in the lower courts has declined, the total outflow of cases has likewise been on a downtrend. The Supreme Court’s... Read More

September 18, 2014

In 2009, our Congress passed into law the Real Investment Trust Act (Reita). The law was envisioned to put in place in the Philippines the REIT system, which is an investment scheme that was intended to democratize wealth by enabling the investing public to share in the returns of income-generating real estate presently owned by the few. Because of its attractiveness to investors, this... Read More

September 09, 2014

SEVERAL LAWMAKERS are pushing for the imposition of a 10% ad valorem tax on soft drinks and other sweetened beverages. Among them is Rep. Estrelita Suansing of Nueva Ecija who filed House Bill 3365. The bill has a two-fold purpose: (1) To provide the government with a source of revenue for rehabilitation efforts in areas hit by devastating calamities like Yolanda and the 7.2 magnitude earthquake... Read More

September 04, 2014

Questions on the validity of corporate layering as a means of structuring the ownership of companies have been raised following a spate of Supreme Court decisions relating to companies where minimum Filipino ownership is required by our Constitution and laws. Applying the control test, the Supreme Court recently recognized corporate layering in the case of Narra Nickel Mining and Development... Read More