Publications

“Quick and Easy Online Loan,” “Fast, Easy, Loan Online,” “Quick Cash Online” — these are only a few of the marketing and advertising slogans of online lending companies which have emerged among the online community. Oblivious of the consequences, these online loans became popular among the mass of Filipino people who, in some way or other, needed the “quick and easy” cash.

With the enactment of Republic Act No. 11360, rank-and-file employees of restaurants, hotels and similar establishments are now entitled to 100% of the service charges collected from customers.

R.A. No. 11360 — or “An Act Providing that Service Charges Collected by Hotels, Restaurants and other Similar Establishments be Distributed in Full to All Covered Employees”

Taxes are integral to any economic policy. Investments flow in and out of the economy based on fiscal incentives as much as human capital. For Philippine Economic Zone Authority (PEZA) locators, investors were enticed to invest in the Philippines with tax incentives, such as the Income Tax Holiday (ITH) or 5% Gross Income Taxation (GIT), VAT zero-rated purchases, and duty-free importations.

The common practice of advertising services through television, social media, websites, radio and the like, as well as the use of online lending platforms are becoming tools of fraud, leading to the increased number of borrowers falling prey to unlawful acts of lending and financing companies.

According to the 2019 World Bank report, the Philippines ranks 124th out of the 190 economies in terms of ease of doing business. Meanwhile, its neighbors, namely: Malaysia, Vietnam, Singapore, Thailand and Indonesia, rank 15th, 69th, 2nd, 27th, and 73rd, respectively.

There is no contention that the public has every right to be freely apprised of the laws governing their daily lives. In a democracy, the power of the government to create, interpret, and implement laws is sourced from the people. Thus, “edicts of government” such as statutes and judicial opinions per se are not subject to exclusive ownership and/or commercial exploitation in the context of copyright, not even by the government itself.

In these times when loans are easily available through online consumer financing or other private lending companies, when there is easy access to online cash loans without any collateral requirements, complex approval procedures, or prolonged application waiting time, many people resort to purchasing their personal needs and wants by obtaining loans through the aforesaid manner.

In a global world where cross-border transactions are commonplace, disputes inevitably arise. Considering the difference in the substantive laws and procedures in different jurisdictions, the resolution of these disputes requires multilateral agreement and cooperation between and among states.