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Archive

May 31, 2017

The Bureau of Internal Revenue (BIR) has promulgated on Feb. 8 Revenue Regulation No. 2-2017 (RR No. 2-2017) which amended Revenue Regulation No. 3-2016 (RR No. 3-2016). This pertains particularly to when tax payments are made through credit/debit/prepaid card and covers the liability of the Authorized Agent Bank-Acquirer in case of non-payment. In 2016, BIR promulgated RR No. 3-2016... Read More

May 25, 2017

The Supreme Court affirmed with finality its decision dated Nov. 22, 2016 in “Roy v. Herbosa, et. al.” which declared SEC Memorandum Circular No. 8 or the “Guidelines on Compliance with the Filipino-Foreign Ownership Requirements Prescribed in the Constitution and/or Existing Laws by Corporations Engaged in Nationalized and Partly Nationalized Activities,” valid and consistent with its decision... Read More

May 24, 2017

Further to the promulgation last August 2016 of the Implementing Rules and Regulations (IRR) of Republic Act No. 10173, or the Data Privacy Act of 2012 (DPA), the National Privacy Commission (NPC) has since then, issued four circulars and one advisory to guide personal data controllers, processors, and subjects alike, regarding compliance with the law. NPC Circular No. 16-01 (issued last 10... Read More

May 17, 2017

Since the passage of the Philippine Competition Act (PCA) in July 2015 and the issuance of its implementing rules and regulations (IRR) last year, the Philippine Competition Commission (PCC) has released several issuances affecting the PCA’s compulsory notification requirement. Unavoidably, some issuances seem to raise issues with other existing regulaions. These issuances have taken the form... Read More
Ma. Clarissa Excelsis S. Villanueva

May 12, 2017

  Finally the long wait is over. After almost nine (9) months of numerous dialogues and consultations, DoLE Secretary Silvestre H. Bello III already issued Department Order No. 174, series of 2017. It sets out the new rules implementing Articles 106 to 109 of the Labor Code, thus, replacing Department Order 18-A, series of 2011. The new Order became effective last April 2, 2017.... Read More

May 03, 2017

In the present corporate world, sound corporate governance plays a major role in any successful business. Implementation of an effective code of corporate governance maximizes the company’s resources and enterprise value with respect to its shareholders. It also promotes transparency and fairness in dealing with all stakeholders. The Securities and Exchange Commission (SEC) approved the Code... Read More