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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)...

By: Euney Marie J. Mata-Perez on November 14,2019 NEW rules on taxation of digitalized transactions are being proposed by OECD (Organization for Economic Co-operation and Development), and these rules will be game changing in international taxation. The power of taxation is exercised by each state....

By: Euney Marie J. Mata-Perez on November 7,2019 The world is getting smaller. Cross-border and digital transactions are becoming an integral part of business and everyday life. Thus, a global approach to taxing digital transactions is essential; otherwise, the risk of different countries promulgating...

By: Euney Marie J. Mata-Perez on October 31,2019 So much has been written about the rationalization of tax incentives under the proposed Comprehensive Income Tax and Incentives Rationalization Act (Citira) or House Bill 4157. Thus, an understanding as to how the rationalization actual works is crucial. In...

By: Euney Marie J. Mata-Perez on October 24,2019 In a joint statement released this week, 11 business groups expressed support for the “overall corporate income tax framework” under the proposed Corporate Income Tax and Incentives Rationalization Act (Citira) or House Bill 4157. Citira proposes,...

By: Mark Anthony P. Tamayo on October 17,2019 MULTINATIONAL companies engaged in related party transactions normally set up their respective transfer pricing (TP) policies for the purpose of achieving their specific operating profit margin targets. It is common though that the target would materially...

By: Mark Anthony P. Tamayo on October 10,2019 The long awaited guidelines for transfer pricing (TP) examinations was recently issued by the Bureau of Internal Revenue (BIR) under Revenue Audit Memorandum Order (RAMO) 1-2019 dated Aug. 20, 2019. It is basically a manual of standardized procedures...

By: Gerardo Maximo V. Francisco on October 3,2019 The jurisdiction of the National Labor Relations Commission (NLRC) is limited to cases or disputes where there is an employer-employee relationship between the parties. If no such employer-employee relationship exists, then the regular courts would...