By: Florian Salcedo on September 13, 2018
In keeping with the constitutional policy affirming labor as a primary social and economic force, the President has recently signed into law Republic Act (RA) 11058.
RA 11058, signed on August 17, 2018, intends to strengthen compliance by employers, in all private establishments and places where work is being undertaken in all branches of economic activity, with the occupational safety and health (OSH) standards set by the Secretary of Labor and Employment pursuant to the Labor Code of the Philippines.
By: Mark Anthony Tamayo on September 6, 2018
One of the main tasks of the Commissioner of the Bureau of Customs (BOC) is to exercise, directly or indirectly, any customs power, duties and functions for the effective implementation of the Customs Modernization and Tariff Act (CMTA) and other customs related laws.
The power includes the issuance of alert orders as a tool to deter smuggling.
An Alert order is an order issued by authorized BOC officers to examine, on the basis of derogatory information, identified shipments regarding their possible non-compliance with customs rules.
By: Euney Marie J. Mata-Perez on August 30. 2018
The Revised Corporation Code (RCC) proposed under Senate Bill No. 1280 continues to impose the duties of diligence, loyalty and obedience upon directors, trustees and officers of corporations.
Thus, it continues to uphold the rule that directors and officers can’t be held liable for corporate acts if they meet the standard of “due diligence” when making decisions.
To date, our Tax Code doesn’t contain general anti-tax avoidance rules or general principles or rules to check potential tax avoidance in general.
The “Tax Reform for Acceleration of Better and High-quality Opportunities” or “TRABAHO Bill” attempts to address this by introducing amendments to Section 50 of our Tax Code.
By: Euney Marie Mata-Perez on August 16, 2018
The Senate finally approved on third reading Senate Bill 1280 (SB 1280) which, once passed into law, introduces major amendments to our existing Corporation Code (Batas Pambansa Blg. 68) passed 38 years ago in 1980.
It’s thus worth noting the significant amendments the Bill seeks to introduce.