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News and Updates

Improving board diversity in the Philippines

Written on August 17, 2023. Posted in MTF Articles, News, News and Updates.

By: Atty. Euney Marie Mata-Perez on August 17,2023 IMPROVING board diversity is increasingly seen as contributing to good corporate governance, and its promotion has attracted good governance advocates as well as regulators. There had been studies that suggested that corporate boards structured...

Fighting corruption in the Philippines

Written on August 3, 2023. Posted in MTF Articles, News and Updates.

By Euney Marie Mata-Perez on August 3,2023. I WAS invited by the Tax Accountancy Association Union of Chinese Taipei (Taauct) to speak during its Corporate Integrity and Sustainable Development Asia Regional Seminar recently held in Taiwan. Deputy ministers from the Ministry of Finance and Ministry...

Written on June 14, 2023. Posted in News, News and Updates.

MTF Managing Partner Euney Mata-Perez will moderate this session on Emerging Economies and Tax Issues in this 2023 International Tax Conference organized by the Asian Consulting Group. Introducing our esteemed presenters at the 2023 International Tax Conference Engage as they bring a wealth of...

Claim for refund of unutilized input VAT

Written on May 25, 2023. Posted in News, News and Updates.

By: Atty. Aziza Hannah Bacay on May 25,2023 SECTION 112 of the Tax Code (Republic Act [RA] 8424, as amended) states that a taxpayer may claim for refund or request for issuance of tax credit certificate for its excess unutilized input value-added tax (VAT). In computing VAT, the input tax (the...

Are business taxes deemed to be business permit fees?

Written on May 11, 2023. Posted in MTF Articles, News, News and Updates.

By: Atty. Jan Ethan Gordola on May 11,2023 IN the recent decision of Bases Conversion and Development Authority and John Hay Management Corp. v City Government of Baguio City (BCDA v Baguio Case, GR 192694. Feb. 22, 2023), the Supreme Court stated that “[t]he payment of fees for the issuance...

Proving that services were rendered in the Philippines for VAT zero-rating purposes

Written on May 4, 2023. Posted in MTF Articles, News, News and Updates.

By Gladys Jane Dela Cruz on May 4,2023 IN last week’s article, we discussed that to qualify for value-added tax (VAT) zero-rating under Section 108(B)(2) of the National Internal Revenue Code, the following elements must be present: (1) the recipient of the services is a foreign corporation...

Proving the nonresident status of service recipients for VAT zero-rating

Written on April 27, 2023. Posted in MTF Articles, News, News and Updates.

By: Atty. Keanu P. Castañeda on April 27,2023 SERVICES rendered to a person engaged in business conducted outside the Philippines or to a nonresident person not engaged in business who is outside the Philippines may be subject to zero percent value-added tax (VAT), provided that the consideration...

Breach of director’s fiduciary duty

Written on April 20, 2023. Posted in MTF Articles, News, News and Updates.

By: Atty. Cara Angela N. Flores on April 20,2023 THE board of directors exercises the powers, conducts all business and controls all properties of a corporation (Section 22, Revised Corporation Code). Being the vessel of corporate powers, the directors have fiduciary duty toward the corporation....

Congratulations to our new lawyers for passing the 2022 Bar Exams !

Written on April 18, 2023. Posted in News, News and Updates.