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December 28, 2016

Having been enacted in 2012, Republic Act No. 10351, or the Sin Tax Law, amended and simplified the former four-tiered system of taxation applicable to cigarettes packed by machine. The Sin Tax Law provides for a two-tier system of taxation entailing different excise tax impositions dependent on the net retail price of the subject cigarettes, which is intended to result in a unitary system of... Read More

December 15, 2016

As we close the calendar year, many organizations run through the annual twin rituals of self-examination and planning.  For organizations which follow the calendar year as their fiscal year, this is a time for reflection—of the year that has passed, judging success (or the lack thereof) based on pre-agreed metrics, and planning for the new year.   In business management, we... Read More

December 14, 2016

As the close of year 2016 comes, we celebrate another year of hard work and a year closer to our retirement. As retirement is an inevitable event for majority of Filipinos, it is just and reasonable that retiring employees will receive due benefits to support them after serving their employers for years and continue to enjoy one of the fruits of their hard work, even in their twilight years.... Read More

December 07, 2016

The Internet age has opened numerous opportunities for businesses, whether through new avenues for advertising (such as alongside search engine results), new channels through which to sell products (such as online marketplaces), and even new ways of offering services (such as Airbnb or Uber). In these Internet-centric times, the primary point of contact by which companies connect with... Read More

November 30, 2016

In light of the enactment of the Philippine Competition Act (PCA) in 2015, competitors, manufacturers, retailers, and sellers or suppliers, in general, should be wary of price fixing agreements. While price fixing is not specifically defined in the PCA, the US Federal Trade Commission defines price fixing as any form of agreement that raises, lowers, or stabilizes prices or competitive terms... Read More

November 17, 2016

If a micro, small or medium enterprise (MSME) runs into a financial problem, is there a mechanism that it can use to get back on its feet?   The question is important because MSMEs play an important role in our economy.  Based on the 2014 data of the Philippine Statistics Authority, MSMEs accounted for 99.6 percent of total registered enterprises, employing millions of... Read More

November 17, 2016

With the promulgation of the Implementing Rules and Regulations (IRR) of the Data Privacy Act, employers should be aware of their obligations under the IRR and comply with same within one (1) year from the effectivity of the IRR.    Republic Act No. 10173, also known as the Data Privacy Act, was enacted on Aug. 15, 2012. Subsequently, the National Privacy Commission... Read More

November 09, 2016

Netflix, iflix, and Hooq -- perhaps three of the most prominent Subscription Video On Demand (SVOD) services available in the Philippine market today. The year 2016 has seen an upsurge in the delivery of SVOD services in the Philippines with the entry of industry bigwig and pioneer Netflix earlier this year. Considering that it has been over a year since such services invaded the laptops,... Read More

November 03, 2016

(Last of four parts)   If you are a credit card holder but find it difficult  to pay your credit card liabilities as they fall due, is it the end of the world for you?   Absolutely not.   Not known to everybody, the Financial Rehabilitation and Insolvency Act (FRIA) has a special remedy for debtors under this situation.   The original... Read More

November 02, 2016

Section 40 (C)(2) of the 1997 National Internal Revenue Code provides two instances for tax-free exchanges of properties: first, transfer to a controlled corporation; and second, merger or consolidation. In both instances, no gain or loss is recognized in the exchange of properties between two taxpayers. The Bureau of Internal Revenue (BIR) through the years has promulgated several... Read More

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