April 28, 2015

The line separating executive and legislative powers has been blurred with the “growing complexity of modern life, the multiplication of the subjects of governmental regulation, and the increased difficulty of administering the laws.” Administrative agencies are now granted the power to formulate rules and regulations, which have the effect of law. What were once in the realm of the legislature... Read More

April 24, 2015

Right after the Holy Week, 20 banks filed a petition with the Regional Trial Court of Makati to declare null and void Revenue Regulation 4-2011 (RR). The RR mandates, among others, the allocation of common expenses incurred by a bank’s regular banking unit among its tax-exempt income, tax-paid income and income subject to ordinary income tax. Deductibility of these expenses is determined by the... Read More

April 17, 2015

Do self-regulatory organizations like the Philippine Stock Exchange and Philippine Dealing Exchange Corp. have the power to impose monetary damages (like actual, punitive or damages) on entities or persons under their regulatory jurisdiction? A self-regulatory organization (SRO) is an organization or association registered under the Securities Regulation Code that is empowered to make and... Read More

April 15, 2015

The recent ASEAN Intellectual Property Association annual conference held last month in Bangkok highlighted, among others, the issue of plain packaging in the tobacco and alcohol industries vis-à-vis the seeming contradiction it creates with the existing trademark protection system, focusing on the experience of Australia (being the first country to legally prescribe plain packaging on tobacco... Read More

April 07, 2015

IN 2007, the heads of states of the 10 countries comprising the Association of Southeast Asian Nations (ASEAN) agreed to establish the ASEAN Economic Community by Dec. 31 this year. Essentially, the ASEAN Economic Community is the integration of the 10 economies into a single unit. With its wide-ranging consequences, the ASEAN Economic Community will definitely affect the lives of every... Read More