By: Atty. Euney Marie J. Mata-Perez on October 17,2024 One of the great benefits of a corporation is its having a legal personality which is separate and distinct from its owners or stockholders. This attribute springs from the very basic nature of a corporation as "an artificial being created by…

By: Atty. Euney Marie Mata-Perez on October 10,2024 On October 3, 2024, Republic Act (RA) No. 12023 was signed into law, making effective the imposition of value-added tax ("VAT") on gross sales derived from the sale or exchange of digital services, and thereby amending certain provisions of the National Internal…

By: Atty. Rey Christian M. Guintibano on October 3,2024 Under Philippine law, the transfer of public funds or property for purposes other than what was originally intended by law or ordinance is a crime. Technical Malversation under Article 220 of the Revised Penal Code (“RPC”) penalizes the act of diverting…

By: Atty. Joshua Rizlan A. Simbillo on September 25,2024 Taxpayers have the standing to institute a taxpayer’s suit when public resources are at risk of being misused. A taxpayer’s suit is where an individual taxpayer seeks to prevent the illegal disbursement of public funds.  It is an effective tool for…

By: Elaisha Nelle C. Espinosa on September 19,2024 Artificial Intelligence (AI) is one of the 21st century’s most remarkable innovations. In recent years, AI has proven that it can revolutionize labor, streamline business conduct, and advance the global economy. If left unregulated, however, its potential for abuses could outweigh its…

By: Raida Argeli Grefiel on September 5,2024 The 1987 Constitution empowers local government units (LGUs) to create their own revenues, as well as to levy taxes, fees, and charges, subject to the guidelines and limitations set forth in the Local Government Code of 1991 (LGC). The LGC defines the extent…

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…

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 of personal data captured by CCTV cameras…

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 Informal Conference,…

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…

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 validly issued Letter of…

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 (and consequently, their taxation). The…

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 in a fast-changing market.…

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 is shown…

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 (“RR”)…

By: Atty. Euney Marie J. Mata-Perez on June 13,2024 Our Securities and Exchange Commission (SEC) is now open to developing the financial technology (“Fintech”) industry and adopting the latest innovations in this industry in the Philippines.  In April of this year, the SEC, through its newly established PhiliFintech Innovation Office…

By: Atty. Euney Marie J. Mata-Perez on June 6,2024 We are doubly blessed, as we celebrated our firm’s 11th anniversary yesterday, June 4, 2024.  Eleven is double one—as what Fr. Pat Villasanta of the Salesian Order said, double one means double blessings, as the number 1 represents God. My partner,…

By: Atty. Euney Marie J. Mata-Perez on May 23,2024 Our government is poised to expand its wings, to take advantage of the global growth of the digital economy. The Senate approved on third reading Senate Bill (SB) No. 2528, a bill proposing to impose the 12% value-added tax (VAT) on…