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By: Euney Marie J. Mata-Perez on February 20,2020 The Senate Ways and Means Committee released Committee Report 50 dated Feb. 17, 2020, endorsing Senate Bill (SB) 1357, in substitution of SBs 535, 595 and 702, taking into consideration House Bill (HB) 4157, the proposed Corporate Income Tax and Incentives Rationalization Act...

By: Euney Marie J. Mata-Perez on February 13,2020 The year 2020 started right for the viability of REITs or real estate investment trusts. The last of the major roadblocks for the creation of REITs has finally been removed, more than ten years after the passage of Republic Act (RA) 9856, or...

By: Euney Marie J. Mata-Perez on February 6,2020 In last week’s article, we discussed that, under our National Internal Revenue Code, as amended (Tax Code), and existing regulations, donations in excess of P250,000 in any taxable year shall be exempt from donor’s tax if they are made to the national government,...

By: Euney Marie J. Mata-Perez on January 30,2020 The recent Taal Volcano eruption spurred once again the generosity of the Filipino spirit. Many Filipinos participated in countless relief efforts in various capacities, whether as volunteers or donors. Thus, it is good once again to be reminded of the benefits of giving...

By: Mark Anthony P. Tamayo on January 23,2020 Last of a series In last week’s article, we completed the discussion on the 11 Incoterms® rules as they relate to cross-border commercial transactions. In this last series, we shall focus on the possible effects and consequences of the chosen Incoterm® rule by...

By: Mark Anthony P. Tamayo on January 16,2020 Second of a series In last week’s article, we discussed the relevance of Incoterms 2020 as well as the salient features of Incoterms EXW (Ex Works), FOB (Free On Board), CPT (Carriage Paid To) and CFR (Cost and Freight), as they relate to...

By: Mark Anthony P. Tamayo on January 9,2020 The idea of the International Commercial Terms, or Incoterms®, was first conceived by the International Chamber of Commerce in 1921, with the first edition published in 1936. Since 1980, Incoterms® have been updated every decade in order to align the rules with changes...

              By: Euney Marie J. Mata-Perez on December 26,2019 THIS year passed like a breeze. We just celebrated Christmas. Everyone is still in a holiday mood. In our last article for the year, we deem it fit to look back at 2019 and review some...

By: Euney Marie J. Mata-Perez on December 19,2019 The withholding tax obligations in the Philippines are not simple. Philippine taxpayers are required to withhold creditable withholding taxes (CWT) at varying rates on several income payments, and remit the taxes withheld to the Bureau of Internal Revenue (BIR). A CWT is an...