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LATEST NEWS
MTF Updates – COVID 19 Issuances
AMENDING THE BANK SECRECY ACT AS A KEY TO FINANCIAL INTEGRITY
By: Atty. Euney Marie Mata-Perez on July 16,2020
The integrity of a financial system is a key factor in its financial stability.
Finance Secretary Carlos Dominguez 3rd and Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno recently reiterated the need to amend Republic Act (RA) 1405, or the “Bank Secrecy Act.” This comes in the wake of the controversy involving German company Wirecard AG and its missing $2.1-billion funds. An “elaborate” search was conduct to determine whether the missing money entered the Philippine financial system through two of our major banks, BDO Unibank Inc. and Bank of the Philippine Islands.
COVID-19’s IMPACT ON SIN TAXES AND HEALTH CARE FUNDING
By: Atty. Euney Marie Mata-Perez on July 9,2020
The coronavirus disease 2019 (Covid-19) pandemic and the community quarantines imposed to curb its spread certainly affected people’s lifestyles. It also affected their spending habits, as seen in the increase in the use of the internet and various online platforms to purchase various essential and nonessential goods. More important, the pandemic highlighted the need for our government to focus on the proper funding of health care facilities in the country.
PROCUREMENT DURING THE COVID-19 PANDEMIC
By: Atty. Euney Marie Mata-Perez on July 2,2020
Because of the serious threat posed by the coronavirus disease 2019 (Covid-19) pandemic to the health, safety and security of Filipinos, a state of national emergency was declared over the country under Section 2 of Republic Act (RA) 11469, or “the Bayanihan to Heal as One Act.”
PROPOSED MEASURES TO TAX THE DIGITAL ECONOMY
By: Atty. Euney Marie Mata-Perez on June 26,2020
The coronavirus disease 2019 (Covid-19) pandemic has spurred the growth of digital and online transactions, and this highlighted the taxation issues about them.
REGISTRATION OF BUSINESS CONDUCTED THROUGH DIGITAL MEANS
By: Atty. Euney Marie Mata-Perez on June 18,2020
The community quarantines brought about by the coronavirus disease 2019 (Covid-19) pandemic pushed many to use electronic or online platforms, like Facebook, Viber and Instagram, to continue their businesses or start new ones.
RESPECT FOR THE PHILIPPINE FLAG AND NATIONAL ANTHEM
By: Atty. Euney Marie Mata-Perez on June 11,2020
We celebrate Independence Day on June 12, 122 years after Gen. Emilio Aguinaldo declared independence from Spain and waved the first Philippine flag at his residence in Kawit, Cavite.
‘BALIK PROBINSYA’ PROGRAM
By: Atty. Euney Marie Mata-Perez on June 4,2020
I am a probinsiyana. I was born in Cebu City, my mother’s home city. I partly grew up there, as well as in Dipolog City in Zamboanga del Norte, my father’s home province. I have beautiful memories growing up in Dipolog.
CREATE FOR A SPEEDY RECOVERY
By: Atty. Euney Marie Mata-Perez on May 28,2020
The coronavirus disease 2019 (Covid-19) pandemic gave rise to some benefits. The Department of Finance (DoF) recently added proposed enhancements or amendments to the Corporate Income Tax and Incentives Reform Act (Citira), now renamed the Corporate Recovery and Tax Incentives for Enterprises Act (Create).
TAX AND OTHER STIMULUS INITIATIVES FOR ECONOMIC RECOVERY FROM COVID-19
By: Atty.Euney Marie Mata-Perez on May 21,2020
The huge impact of the coronavirus disease 2019 (Covid-19) pandemic on the health and mobility of our people, as well as on our businesses and economy as a whole, is beyond what we all thought. The enhanced community quarantine (ECQ) imposed in mid-March has been extended, albeit in a modified form covering Metro Manila, Cebu and Laguna, until the end of May, while several regions were put under general community quarantine (GCQ). Most of us continue to work from home. However, the number of confirmed Covid-19 cases continues to rise steadily. The risk of a spike is feared, especially as people start to move around under the lockdowns that took effect on May 16.
MTF Updates – DOLE Labor Advisory No. 18 dated May 18, 2020
MTF Updates – DOLE Labor Advisory No. 17 dated May 18, 2020
DECLARATION IN ITS PROVISIONAL FORM
By: Atty. Mark Anthony Tamayo on May 14,2020
One significant trade facilitation measure in customs clearance procedure and formalities was the adoption of the Revised Kyoto Convention (RKC) provisions relating to provisional or incomplete goods declaration (PGD) in the Customs Modernization and Tariff Act (CMTA).
MTF Updates – DOLE Department Order No. 213
MTF Updates – DTI and DOLE Interim Guidelines
WORKPLACE SAFETY AND HEALTH STANDARDS DURING COVID-19
By: Atty Gerardo Maximo Francisco on May 7,2020
At some point, the enhanced community quarantine (ECQ) still in effect in many areas in the Philippines will be downgraded by the government to the level of a general community quarantine (GCQ). Hopefully, this vital decision to shift to a GCQ will be made circumspectly and with the full backing of medical science and experts.
MTF Updates – BOC Ocom Memo No. 89-2020
MTF Updates – BOC Ocom Memo No. 82-2020
MTF Updates – BOC Ocom Memo No. 80-2020
MTF UPDATES – BIR RR 11-2020
NOTES ON PROBATIONARY EMPLOYMENT
By: Atty Gerardo Maximo Francisco on April 30,2020
“A probationary employee or probationer is one who is on trial for an employer, during which the latter determines whether or not the former is qualified for permanent employment. Indeed, the employer has the right, or is at liberty, to choose who will be hired and who will be declined. As a component of this right to select his employees, the employer may set or fix a probationary period within which the latter may test and observe the conduct of the former before hiring him permanently.” (De La Salle Araneta University Inc. vs Magdurulang, 845 SCRA 274, 285 [2017])
MTF UPDATES – SEC MC NO. 13, SERIES OF 2020
MTF UPDATES – SEC MC NO. 12, SERIES OF 2020
MTF Updates – SEC Notice dated April 22, 2020
FULL DEDUCTIBILITY OF DONATIONS TO FIGHT COVID-19
By: Atty. Carence Navidad on April 23,2020
FILIPINOS’ “bayanihan spirit” is again on display amid the coronavirus disease 2019 (Covid-19) pandemic. Various sectors have been contributing financially, donating various medical equipment, supplies and food to several health facilities and frontline workers across the country.
MTF Updates – BOC CMO No. 10-2020
MTF UPDATES- BIR RMC NO. 44-2020
MTF UPDATES- BIR RMC NO. 43-2020
MTF UPDATES- BIR RMC NO. 42-2020
NEW EXTENDED TAX DEADLINES
By: Atty. Aziza Hannah Bacay on April 16,2020
With the Luzon-wide enhanced community quarantine (ECQ) extended until April 30, it is just proper for the Bureau of Internal Revenue (BIR) to also extend various statutory and tax deadlines. Such an extension is mandated by Republic Act 11469, or the “Bayanihan to Heal as One Act,” which gives President Rodrigo Duterte emergency powers to respond to the coronavirus disease 2019 (Covid-19) pandemic in the country.
MTF Updates – BIR RR No. 10-2020
MTF UPDATES – SEC NOTICE DATED APRIL 8, 2020
MTF UPDATES – SEC NOTICE DATED MARCH 30, 2020
MTF UPDATES – BIR RMC NO. 41-2020
MTF UPDATES – BIR RMC NO. 40-2020
MTF UPDATES – BIR RMC NO. 39-2020
MTF UPDATES – BIR RMC NO. 38-2020
MTF UPDATES – DOLE – LABOR ADVISORY NO. 13
RECOVERY OF TAX ERRONEOUSLY OR ILLEGALLY COLLECTED
By: Atty. Kathlene Guiang on April 9, 2020
The imposition of a Luzon-wide enhanced community quarantine last month has prompted government agencies to issue circulars aimed at helping ease its impact on the lives of taxpayers.
MTF UPDATES- BIR RR 9-2020
MTF UPDATES- BIR RMC No. 37-2020
MTF UPDATES- BIR RMC No. 36-2020
MTF UPDATES | BIR RMO 10-2020
MTF UPDATES | BIR RR 8-2020
MTF UPDATES | BIR RR 7-2020
COVID-19 ISSUANCES TO EXTEND STATUTORY DEADLINES
By: Atty. Euney Marie Mata-Perez on April 2,2020
he coronavirus disease 2019 (Covid-19) pandemic is greatly affecting all of us.
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
