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THE LIMITED LIABILITY OF OPCS IN TAX EVASION CASES

By: Ramon Vaughn F. Dy III on January 14, 2021. It is an established rule in our jurisdiction that a corporation has a separate and distinct legal personality from that of its shareholders and officers. As an artificial being created by law, a corporation can act only through its people, such...

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THE URGENT NEED TO PASS CREATE

By: Euney Marie Mata-Perez on January 7, 2021 Tax reform is part of the main agenda of the Duterte administration. So it was a welcome development when Republic Act 10963, or the “Tax Reform for Acceleration and Inclusion Act” (Train), took effect on Jan. 1, 2018 to mainly address...

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The force majeure of 2020

By: Euney Marie Mata-Perez on December 31, 2020 2020 will always be a year the world cannot forget. At its start, we saw the eruption of the beautiful Taal Volcano. And then we faced a force majeure like no other — the Covid-19 pandemic, prompting countries to try containing it, including imposing...

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Restraining the enforcement of tax collection

By: Mark Anthony Tamayo on December 24, 2020 Taxes are the lifeblood of the government and should, as an inflexible policy, be collected promptly and without hindrance or delay (see Commissioner of Internal Revenue vs Standard Insurance Co., GR 219340) in order not to disrupt the operations of the...

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Create for global competitiveness

By. Atty. Euney Marie Mata-Perez on December 17, 2020 Last month, the Senate finally passed on third reading Senate Bill 1357, or the “Corporate Recovery and Tax Incentives for Enterprise Act” (Create), which aims to reform our corporate income tax (CIT) and incentives system, and propose significant...

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FRIA REMEDIES FOR INSOLVENT FILIPINOS

By: Atty Gerardo Maximo Francisco on May 7,2020 Covid-19 has caused financial injury and distress to many Filipinos. By early 2021, after the grace periods for loans and other forms of financial assistance granted under Bayanihan 2 will have been exhausted, many more Filipinos will experience the...

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THE CIR’s POWER TO ABATE TAXES

By: Atty. Irish May Quintana on December 3,2020 The abatement or cancellation of internal revenue tax liability is one of the remedies available to taxpayers. This is pursuant to the broad powers of the Commissioner of Internal Revenue (CIR) to cancel and abate tax liabilities under our National...

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INTRA-CORPORATE DISPUTES

By: Atty. Ellaine Anne Bernardino on November 26, 2020 An intra-corporate dispute is one that arises between a stockholder and the corporation, or among stockholders concerning the internal affairs of the corporation. Previously, the Securities and Exchange Commission (SEC) had the jurisdiction to...

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EXEMPTION ON RETIREMENT BENEFITS

By: Atty. Aziza Hannah  Bacay on November 19,2020. Republic Act (RA) 11494, or the “Bayanihan to Recover as One Act” (Bayanihan 2), which implements the government’s response and recovery interventions related to the Covid-19 pandemic, granted some tax relief and incentives to taxpayers. One of these...

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