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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.


By: Euney Marie Mata-Perez on August 2, 2018

The current tax amnesty bill proposed by the Department of Finance (DOF) deals with an estate and a general tax amnesty (GTA) in separate parts, as well as with an unprecedented tax amnesty on delinquencies.

The first part of the proposed bill is the estate tax amnesty which requires the payment of a six percent estate tax amnesty tax (without interest and penalties) of the decedent’s undeclared estate valued at the time of death. It applies to estate taxes due for taxable year 2017 and prior years, similar to the estate tax amnesty originally proposed under House Bill No. 4814.


Contact Information

Our office address:

15/f Unit A. ACT Tower, H.V. Dela Costa St.
Salcedo Village, Makati City 1227 Philippines

Telefax: +632 831-1297

Telephone: +632 808-5375 • +632 815-0069

Email: info@mtfcounsel.com

Partners

Euney Marie J. Mata-Perez
euney.mata-perez@mtfcounsel.com

Mark Anthony P. Tamayo
mark.tamayo@mtfcounsel.com

Gerardo Maximo V. Francisco
gary.francisco@mtfcounsel.com