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By: Euney Marie J. Mata-Perez on October 24,2019 In a joint statement released this week, 11 business groups expressed support for the “overall corporate income tax framework” under the proposed Corporate Income Tax and Incentives Rationalization Act (Citira) or House Bill 4157. Citira proposes, among others, the lowering of the...

By: Mark Anthony P. Tamayo on October 17,2019 MULTINATIONAL companies engaged in related party transactions normally set up their respective transfer pricing (TP) policies for the purpose of achieving their specific operating profit margin targets. It is common though that the target would materially fall outside of the arm’s-length range at...

By: Mark Anthony P. Tamayo on October 10,2019 The long awaited guidelines for transfer pricing (TP) examinations was recently issued by the Bureau of Internal Revenue (BIR) under Revenue Audit Memorandum Order (RAMO) 1-2019 dated Aug. 20, 2019. It is basically a manual of standardized procedures and techniques to be adopted...

By: Gerardo Maximo V. Francisco on October 3,2019 The jurisdiction of the National Labor Relations Commission (NLRC) is limited to cases or disputes where there is an employer-employee relationship between the parties. If no such employer-employee relationship exists, then the regular courts would have jurisdiction over the case or dispute....

By: Euney Marie J. Mata-Perez on September 26,2019 IN sale of shares outside the facilities of the stock exchange, gain is calculated by deducting cost from the higher of the selling price or the fair market value of the shares sold. Unlike valuation of land, our National Internal Revenue Code...

              By: Euney Marie J. Mata-Perez on September 19,2019 The House of Representatives of this 18th Congress approved on third and final reading House Bill 4157 or the Citira (Corporate Income Tax and Incentive Rationalization Act), Package 2 of the government’s Comprehensive Tax Reform...

By: Kathlene Guiang on September 12,2019 Under the 1987 Philippine Constitution, the grant of franchise, certificate, or any other form of authorization for the operation of a public utility is limited to Filipino citizens and to entities at least 60 percent of whose capital is owned and controlled by Filipino...

By: Euney Marie J. Mata-Perez on September 5,2019 With the passage of the Revised Corporation Code (RCC), it is now important for corporations to determine whether or not they qualify as “corporations vested with public interest”. If they so qualify, they will be subject to following additional obligations under the code:...

By: Mark Anthony P. Tamayo on August 29, 2019 Under Republic Act 10963, or the Tax Reform for Acceleration and Inclusion Act (Train), the excise tax rates (which went up from last year’s rates) on diesel, bunker fuel and gasoline will further increase in 2020. A likely consequence of an...