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By: Ellaine Anne Bernardino on April 29, 2021 Stockholders of a corporation may file legal suits based on the unlawful or fraudulent acts of the board of directors, corporate officers or even third persons. Depending on the situation, there are three classes of suits available to a stockholder...

By: Reina G. Fabregas on April 22, 2021 The Revised Corporation Code (RCC) vests in the board of Directors the exercise of all corporate powers, except as otherwise provided by law. As such, the position of a director in a corporation is highly imbued with trust and confidence. In Prime White...

By: Zoe Bryce Amac on April 15, 2021 Tax conventions or treaties are mechanisms imposed by a state in order to minimize the effects of double taxation. They provide double taxation reliefs to taxpayers in the form of tax exemptions or preferential tax rates. Tax treaties are part of the law...

By Euney Marie Mata-Perez on April 1, 2021. President Rodrigo Duterte finally signed into law the much-awaited Corporate Recovery and Tax Incentives for Enterprises (Create) Act, or Republic Act 11534, on Mar. 26, 2021 — more than a year since the House of Representatives approved House Bill 4157...

By Euney Marie Mata-Perez on March 25, 2021. On Feb.y 16, 2021, President Rodrigo Duterte signed into law Republic Act (RA) 11523, or the “Financial Institutions Strategic Transfer Act” (FIST), which seeks to aid banks and other credit-granting financial institutions (FIs) to cushion the impact...

By The Manila Times on March 18, 2021. The recently enacted Revised Corporation Code of the Philippines (RCCP) was meant to further ease doing business in the country and increase its competitiveness. But because of the significant economic downturns brought about by the Covid-19 pandemic, several...

By MARK ANTHONY TAMAYO on March 4, 2021. The process of clearing imported goods from the Bureau of Customs (BoC) is essentially timebound. Every importer must file or lodge a goods declaration, pay the corresponding duties and taxes, and claim or release the goods within the periods prescribed...

By Zoe Bryce Amac on February 25, 2021. The power of taxation is one of the inherent powers of the State and is considered an attribute of sovereignty. Its existence is justified by the so-called lifeblood theory. In Commissioner of Internal Revenue (CIR) v. Algue (GR L-28896, 1988) the Supreme...

By: Atty. Euney Marie Mata-Perez on February 18, 2021. As many of us may be aware by now, the recently ratified Corporate Recovery and Tax Incentives for Enterprises (Create) bill, which now awaits President Rodrigo Duterte’s approval, proposes to reduce the regular corporate income tax (RCIT)...