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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 Euney Marie J. Mata-Perez on June 27,2024 Republic Act No. 11976, the Ease of Paying Taxes Act (“EOPTA”), repealed Section 34(K) of the National Internal Revenue Code (“Tax Code”) which provides that expenses or income payments are allowed as deductions from gross income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...

By: Atty. Rio Krisel G. Bautista on May 16,2024 Section 249 of the National Internal Revenue Code, as amended (the “Tax Code”), provides for deficiency interest and delinquency interest, which may be assessed and collected on any unpaid amount of tax. Deficiency interest is assessed and collected from the date...

By: Atty. Raida Argeli Grefiel on May 2,2024 The National Internal Revenue Code, as amended, (the “Tax Code”) authorizes the Commissioner of Internal Revenue (“CIR”) or his duly authorized representative to conduct audits, in light of the power of the Bureau of Internal Revenue (“BIR”) to assess and collect taxes....