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Archive

March 30, 2017

The January 2017 resolution of the Supreme Court (SC) settled the controversy involving the PEACe (Poverty Eradication and Alleviation Certificates) bonds and resolved the propriety of subjecting the P24.3-billion discount to 20-percent final withholding tax of around P4.9 billion. The Bureau of Internal Revenue issued two rulings a few days prior to the bonds’ maturity in 2011, asserting that... Read More

March 15, 2017

Since the inception of the highly controversial Oplan Tokhang last year, the Supreme Court sitting en banc has already issued two writs of Amparo. The first writ of Amparo was issued on Jan. 31 for Efren Murillo, who survived the anti-illegal drug operation conducted on Aug. 21, 2016 in Payatas, Quezon City, and the relatives of garbage collectors Marcello Daa, Jessie Cule, Raffy Gabo, and... Read More

March 02, 2017

In January 2017, the Supreme Court finally resolved with finality the propriety of subjecting interest earnings from the PEACe bonds (Poverty Eradication and Alleviation Certificates) to 20 percent final withholding tax as it denied the government’s second motion for reconsideration. The Supreme Court affirmed its earlier order for the government to return the withholding taxes it charged on the... Read More

March 01, 2017

The Philippines Stock Exchange, Inc. (PSE) issued last Dec. 2, 2016 the Rules on Dollar Denominated Securities (DDS Rules) which govern the listing, trading, and settlement of US dollar (USD) Denominated Securities (DDS) to be listed and traded in the PSE. The DDS Rules were earlier approved by the Securities and Exchange Commission (SEC) last Nov. 10, 2016. The introduction of the DDS aims... Read More