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Archive

January 28, 2016

A few weeks ago, ANC’s business program, Business Nightly, interviewed me when China activated the circuit breaker system for its stock market. Believe it or not, China’s circuit breaker system was activated immediately after it was put in place last Jan. 4. To make matters worse, the circuit breaker was activated twice within a span of three trading days—the first on Jan. 4, when the market... Read More

January 20, 2016

Children are normally asked what they want to be when they grow up. Most would probably readily answer with a profession -- a lawyer, a doctor, an accountant -- or with a high-paying position of employment, preferably in a multinational or fairly large domestic company. Not too many, I submit, will reply that he or she wants to be an entrepreneur. This fact of young life is recognized by law.... Read More

January 13, 2016

The National Internal Revenue Code of 1997 (“Tax Code”) provides a myriad of remedies -- either civil or judicial, which the Bureau of Internal Revenue (BIR) can choose from to collect taxes from taxpayers. Among these civil remedies is a tax lien on all the taxpayer’s properties, which is automatically created, by operation of law, in favor of the State, from the time the tax becomes due and... Read More

January 07, 2016

In my July 9, 2015 column, I pointed out that one of the features of the recently enacted Philippine Competition Act (PCA) is the inclusion in it of merger control provisions. The new law prohibits mergers or acquisitions that substantially prevent, restrict or lessen competition.  To help ensure there is no violation of this prohibition, the law requires that where the merger or... Read More