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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)...

By AZIZA HANNAH BACAY on February 11, 2021. The Bureau of Internal Revenue (BIR) has the power to enforce the collection of unpaid taxes either through summary administrative remedies, such as the issuance of a warrant of distraint and/or levy (WDL), or judicial ones, such as filing a civil or...

By: Atty. Ellaine Anne L. Bernardino on January 21,2021. The stockholder’s right to examine corporate records is based on his or her interests in the corporation and ownership of corporate property. Under Section 73 of Republic Act 11232, or the Revised Corporation Code (RCC), which...

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...