By: Atty. Elaisha Nelle Espinosa on May 8,2025 REPUBLIC Act 11976, or the Ease of Paying Taxes Act, which took effect last Jan. 22, 2024, introduced significant changes to the invoicing requirements of the Bureau of Internal Revenue (BIR). Section 21 of the law, which amended Section 113 of the…

By: Atty. Euney Marie Mata-Perez on May 1,2025 ROYALTIES are generally considered passive income. Thus, royalties earned by an individual citizen or domestic corporation are generally subject to a 20-percent final withholding tax. The rate is reduced to 10 percent if it is earned on books, literary works, and musical…

By: Atty. Rey Christian M. Guintibano on April 24,2025 LOCAL government units (LGUs) have the power to create their own sources of revenue pursuant to Section 5, Article X of the 1987 Constitution. This power to tax was further defined by Republic Act 7160, or the Local Government Code of…

By: Atty. Mark Anthony P. Tamayo on April 17,2025. TARIFF, in general, is a government-imposed tax on imported goods and, in some cases, on services. Its primary function is to hollowly increase the price of foreign products, subtly influencing consumer preferences toward domestic substitutes. This mechanism not only protects domestic…

By: Atty. Raida Argeli G. Grefiel on April 4,2025 DIRECTORS play a key role in corporations. Being juridical entities, corporations cannot act on their own but only through the acts of natural persons comprising its board of directors. To be precise, the Revised Corporation Code (RCC) provides that the board…

By: Atty. Lew Earvin Manarin on March 3,2025 The Secrecy of Bank Deposits Act (Republic Act No. 1405), often referred to as the Bank Secrecy Act, protects the confidentiality of bank deposit information, ensuring individuals and businesses can conduct transactions without fear of unauthorized disclosure. The law prohibits the release…

By: Atty. Elaisha Nelle C. Espinosa on March 27,2025 DATA privacy is a key pillar of corporate governance. As companies store personal data in their business activities, harmonizing corporate and data privacy laws becomes more important not only to ensure proper compliance, but also to build trust among stakeholders. Section…

By: Atty. Euney Marie J. Mata-Perez on March 20, 2025 THE Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 3-2025, prescribing policies and guidelines for the implementation of Republic Act (RA) 12023, the law which imposes value-added tax (VAT) on digital services by amending several provisions of our National…

By: Atty. Rey Christian Guintibano on March 13,2025 In our article published on January 23, 2025, we discussed the Bureau of Internal Revenue’s (BIR) Tax Compliance Verification Drive (TCVD), commonly known as tax mapping. One key requirement for Revenue Officers (ROs) to be able to conduct tax mapping is that…