By: Euney Marie J. Mata-Perez on January 30,2020
The recent Taal Volcano eruption spurred once again the generosity of the Filipino spirit. Many Filipinos participated in countless relief efforts in various capacities, whether as volunteers or donors. Thus, it is good once again to be reminded of...
By: Mark Anthony P. Tamayo on January 23,2020
Last of a series
In last week’s article, we completed the discussion on the 11 Incoterms® rules as they relate to cross-border commercial transactions.
In this last series, we shall focus on the possible effects and consequences of the chosen Incoterm®...
By: Mark Anthony P. Tamayo on January 16,2020
Second of a series
In last week’s article, we discussed the relevance of Incoterms 2020 as well as the salient features of Incoterms EXW (Ex Works), FOB (Free On Board), CPT (Carriage Paid To) and CFR (Cost and Freight), as they relate to cross-border...
By: Mark Anthony P. Tamayo on January 9,2020
The idea of the International Commercial Terms, or Incoterms®, was first conceived by the International Chamber of Commerce in 1921, with the first edition published in 1936. Since 1980, Incoterms® have been updated every decade in order to align...
By: Euney Marie J. Mata-Perez on December 26,2019
THIS year passed like a breeze. We just celebrated Christmas. Everyone is still in a holiday mood. In our last article for the year, we deem it fit to look back at 2019 and review some legislative...
By: Euney Marie J. Mata-Perez on December 19,2019
The withholding tax obligations in the Philippines are not simple. Philippine taxpayers are required to withhold creditable withholding taxes (CWT) at varying rates on several income payments, and remit the taxes withheld to the Bureau of Internal...
By: Euney Marie J. Mata-Perez on December 5,2019
The Philippines is becoming a major player in the offshore gaming industry worldwide.
Owing to our regulatory framework, offshore gaming operations can be granted licenses and be regulated, thereby, be legalized in the country. The main licensor is...
By: Mark Anthony P. Tamayo on November 28,2019
Last of two parts
IN last week’s column, we discussed the basic concept of a customs bonded warehouse (CBW) in line with the newly issued guidelines under Customs Administrative Order (CAO) 13-2019.
In this column, we shall discuss the associated costs...
By: Mark Anthony P. Tamayo on November 21,2019
First of two parts
The new guidelines on the establishment, operation, supervision and control of customs bonded warehouses (CBWs) was recently issued by the Department of Finance (DoF) and Bureau of Customs (BoC).
Customs Administrative Order (CAO)...