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Further Reforms to FX Rules on Foreign Investments

On 11 April 2024, the Monetary Board approved further amendments to the Manual of Regulations on Foreign Exchange Transactions (the “FX Manual”) in line with the Bangko Sentral ng Pilipinas’ (“BSP”) commitment to further facilitate access to foreign exchange (“FX”) resources of authorized agent banks or their subsidiary/affiliate FX corporations (AABs/AAB forex corps) for legitimate transactions and to streamline documentary requirements, procedures, and reporting.

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ACCRALAW as Counsel in the Compulsory Notification Requirements of the €3 Billion Acquisition of Majorel by Teleperformance SE

ACCRALAW assisted in the compulsory notification requirements under Republic Act No. 10667, or the Philippine Competition Act, in connection with the transaction between Majorel Group Luxembourg S.A. (“Majorel”) and Teleperformance SE worth €3 billion.

ACCRALAW as Counsel in the Compulsory Notification Requirements of the €3 Billion Acquisition of Majorel by Teleperformance SE Read More »

Establishment of Joint Ventures for Purposes of Undertaking Public-Private Partnership Projects

The significant and indispensable role of the private sector in the delivery of high-quality infrastructure and basic services to the public has long been recognized. Pursuant to its Build-Better-More Program, the Philippine government aims to focus on establishing infrastructure projects which are critical to the country’s development.

Establishment of Joint Ventures for Purposes of Undertaking Public-Private Partnership Projects Read More »

Beyond and within borders: PHL’s participation in the BEPS Inclusive Framework may need reconsidering

As digital technologies evolve and reshape the global economy, they pose increasingly complex taxation challenges. The Organisation for Economic Co-operation and Development (OECD) seeks to address these tax challenges through the Base Erosion and Profit Shifting (BEPS) 2.0 project, the Two-Pillar Approach: Pillar One (re-allocation of taxing rights) and Pillar Two (global minimum taxation).

Beyond and within borders: PHL’s participation in the BEPS Inclusive Framework may need reconsidering Read More »

ACCRALAW as Philippine Counsel to the Managers for Metrobank’s US$1 Billion Note Issuance

ACCRALAW acted as Philippine counsel to the Managers, Merrill Lynch (Singapore) Pte. Ltd., UBS AG Hong Kong Branch, First Metro Investment Corporation, and MUFG Securities Asia Limited Singapore Branch, in relation to Metrobank’s issuance of a dual tranche, 5-year USD 500 Million and 10-year USD 500 Million notes under its USD 2 Billion Medium Term Note Programme. 

ACCRALAW as Philippine Counsel to the Managers for Metrobank’s US$1 Billion Note Issuance Read More »

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