By: Atty. Euney Marie J. Mata-Perez on August 29,2024
We are very proud of Carlos Yulo, our Olympic gold medalist. He did not only win two Olympic gold medals, giving glory to our country, but his performance at the Olympics was also hailed by the Olympic Committee itself as “as a dazzling display...
By: Atty. Rey Christian M. Guintibano on August 22,2024
Last August 12, 2024, the National Privacy Commission (“NPC”) issued Circular No. 2024-02, an updated set of guidelines governing the use of Closed-Circuit Television (“CCTV”) systems. The Circular outlines the proper handling and processing...
By: Atty. Aziza Hannah A. Bacay on August 16,2024
The cornerstone of a fair tax system is due process. Taxpayers have the fundamental right to be informed in writing of the factual and legal basis for any tax assessment. Thus, proper service of assessment-related notices—including the Notice of...
By: Atty. Euney Marie J. Mata-Perez on July 25,2024
Last July 11, 2024, I joined as one of the panelists in the 11th PICPA-Cebu Summit where I discussed the pending PIFITA or the Passive Income and Financial Intermediary Taxation Act Bill (House Bill No. 4339) which seeks to reform the taxation...
By: Atty. Raida Argelli G. Grefiel on July 18,2024
Our National Internal Revenue Code, as amended (the “Tax Code”) empowers the Commissioner of Internal Revenue (“CIR”) to conduct an assessment of the taxes paid by a taxpayer through the CIR’s duly authorized representative armed with a...
By: Atty. Euney Marie J. Mata-Perez on July 11,2024
On 13 June 2024, President Ferdinand R. Marcos, Jr. signed into law Republic Act No. 12001, the Real Property Valuation and Assessment Reform Act (RP-VAR Act), which will change significantly the landscape of our real property valuation...
By: Atty. Lew Earvin H. Manarin on July 4, 2024
Mergers play a crucial role in the corporate landscape. Mergers help companies compete better, keep up with new technology, and handle economic changes more effectively. Overall, mergers can be essential catalysts for growth and staying competitive...
By: Atty. Euney Marie J. Mata-Perez on June 27,2024
Republic Act No. 11976, the Ease of Paying Taxes Act (“EOPTA”), repealed Section 34(K) of the National Internal Revenue Code (“Tax Code”) which provides that expenses or income payments are allowed as deductions from gross income “only if it...
By: Atty. Xela Leona D. Laqui on June 20,2024
In the recent case Integrated Bar of the Philippines v. Purisima, (G.R. Nos. 211772 and 212178, April 18, 2023) (the “IBP Case”), the Supreme Court invalidated portions of Sections 2(1) and 2(2) of Bureau of Internal Revenue (“BIR”) Revenue Regulations...