By: Atty. Euney Marie Mata-Perez on January 28,2021.
To claim a refund for an erroneously or illegally collected tax, Section 229 of the National Internal Revenue Code, as amended (Tax Code), provides that the claimant must first file an administrative claim with the commissioner of Internal...
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...
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...
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...
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...
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...
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...
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...