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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)...

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....