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Archive

May 17, 2018

The Securities and Exchange Commission (SEC), recognizing the financial sophistication of trust funds, released on April 20, the proposed rules and regulations on determining whether a trust fund is a qualified buyer (Proposed Rules). To put things into context, under the Securities Regulation Code (SRC), any sale of securities to a qualified buyer is an exempt transaction, i.e., the sale or... Read More

May 09, 2018

German-American socialist editor and author, Oscar Ameringer, once said: “Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other.” This is, indeed, a tough balancing act if at all possible. President Rodrigo R. Duterte found this to be so, at least with respect to the issue of “contractualization.” During the 2016... Read More

May 03, 2018

After years of uncertainty, the Supreme Court (SC) finally laid to rest whether the Department of Justice, through its chief, may issue hold departure orders (HDOs) and watchlist orders (“WLOs”) to prevent people under investigation from leaving the country. There were several DOJ circulars (i.e., DOJ Circular No. 17 dated March 1998 and DOJ Circular No. 18 dated April 23, 2007) that gave this... Read More
Shenna Jane T. Parado

May 02, 2018

Almost four (4) years have lapsed since the Enhanced Basic Education Act of 2013, or Republic Act 10533 (RA 10533), introduced the Enhanced Basic Education Program or the K to 12 to the Philippines. By now, we have our first graduates of the K-to-12 Program. Upon the effectivity of RA 10533, a decrease in enrolment at the Higher Educational Institutions (HEI) from 2016 and 2017 until 2021-2022... Read More

April 19, 2018

With the recent progress of House Bills 6027 and 6595, more popularly known as the divorce bill and same-sex marriage bill, respectively, proponents say the Philippines is set to finally join the ranks of countries that have modernized their laws on marriage and family relations. The divorce bill just passed its second reading in the House of Representatives while the same-sex marriage bill is... Read More

April 18, 2018

The law cannot just be gauged on the basis of its provision. One should consider how its administrator views it. It should be recalled Congress recently passed the Tax Reform for Acceleration and Inclusion (TRAIN) Act, with the veto of its certain provisions. It would thus be interesting to see how the government, through the Department of Finance (DoF) specifically the Bureau of Internal Revenue... Read More

April 13, 2018

The National Privacy Commission (NPC) recently extended the deadline to submit the Annual Security Incident Report for all security incidents occurring in 2017, to June 30, 2018. The NPC had previously issued the Guidelines on Security Incident and Personal Data Breach Reportorial Requirements under NPC Advisory No. 18-01 (“Guidelines”) along with templates for the required reports. However, the... Read More

April 05, 2018

Perjury is one of the vilest crimes that one can commit. With the stroke of a pen or slip of the tongue, it can ruin a man’s reputation, or worse, send him to a detention cell or prison. It is a fatal weapon—devious, cheap and easily accessible. Like poison, it leaves its victim in shambles, a shadow of his former self; while the perpetrator is scot-free to roam around. (We will never know... Read More

April 04, 2018

As the deadline for filing our annual income tax return (ITR) is fast approaching, it is fitting to remind ourselves of the legal requirements, including those changes brought about by the TRAIN law. The official deadline for the filing of ITRs is the 15th day of the fourth month following the end of the taxpayer’s reporting period. For most of us, this remains to be April 15. This is last day,... Read More

March 28, 2018

Under the Build, Build, Build program, the government intends to spend $158 billion over the next five years in public infrastructure projects. This means that by end of President Duterte’s term in 2022, infrastructure spending will reach around 7.3% of GDP, a significant increase from the 5.1% spending in 2016. This huge public spending for government infrastructure projects present vast... Read More

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