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Author: Cara Tengco

MTF Updates – RMC No. 42-2022

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Dear Clients and Friends, On April 12, 2022, the Bureau of Internal Revenue issued Revenue Memorandum Circular (RMC) No. 42-2022 dated April 7, 2022 reiterating that the deadline for filing of annual income tax return (AITR) for calendar year 2021 and payment of taxes thereon is on April 18, 2022....

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Resty C. Perez Finance & Accounting Manager T: (63 2) 8831-1297M: (63) 917-864-2640 / 998-951-4518 Unit 1002, One Corporate Plaza845 A. Arnaiz Avenue, Legaspi VillageMakati City 1229, Philippines resty.perez@mtfcounsel.com

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Ellaine Anne L. Bernardino Junior Associate T: (63 2) 8831-1297M: (63) 915-495-6164 Unit 1002, One Corporate Plaza845 A. Arnaiz Avenue, Legaspi VillageMakati City 1229, Philippines ellaine.bernardino@mtfcounsel.com

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Nica Marsha V. Gasapo Junior Associate T: (63 2) 8831-1297M: (63) 905-523-8798 Unit 1002, One Corporate Plaza845 A. Arnaiz Avenue, Legaspi VillageMakati City 1229, Philippines nica.gasapo@mtfcounsel.com

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Aziza Hannah A. Bacay Junior Associate T: (63 2) 8831-1297M: (63) 921-436-7152 Unit 1002, One Corporate Plaza845 A. Arnaiz Avenue, Legaspi VillageMakati City 1229, Philippines aziza.bacay@mtfcounsel.com

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Warrants of distraint and/or levy

Written on . Posted in MTF Articles.

By Aziza Hannah Bacay on April 7, 2022 Taxes are the lifeblood of the government. Thus, Section 218 of the National Internal Revenue Code, as amended, sets out the primordial “no injunction rule” that bars courts from restraining the collection of any national internal revenue tax,...

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A look at changes to the Public Service Act

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By Ramon Vaughn Dy on March 31, 2022 Operating a public utility has for the longest time been limited to Filipino citizens and entities whose capital is at least 60-percent owned and controlled by Filipino citizens. Foreign equity participation also cannot exceed 40 percent of a public utility’s...

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Mark Anthony P. Tamayo Partner T: (63 2) 8831-1297M: (63) 917-527-2821 Unit 1002, One Corporate Plaza845 A. Arnaiz Avenue, Legaspi VillageMakati City 1229, Philippines mark.tamayo@mtfcounsel.com www.mtfcounsel.com

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