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By: Atty. Euney Marie Mata-Perez on August 17,2023 IMPROVING board diversity is increasingly seen as contributing to good corporate governance, and its promotion has attracted good governance advocates as well as regulators. There had been studies that suggested that corporate boards structured along demographic diversity, such as gender, age, ethnicity,...

By Euney Marie Mata-Perez on August 3,2023. I WAS invited by the Tax Accountancy Association Union of Chinese Taipei (Taauct) to speak during its Corporate Integrity and Sustainable Development Asia Regional Seminar recently held in Taiwan. Deputy ministers from the Ministry of Finance and Ministry of Justice were guest speakers,...

By Stefan Miguel Raymundo Del Rosario on July 13, 2023 THE Bureau of Internal Revenue (BIR), pursuant to its powers to collect taxes, is empowered to institute criminal prosecution cases, including tax evasion cases, against erring taxpayers for criminal violations under the National Internal Revenue Code of 1997 (Tax Code)....

By Euney Marie Mata-Perez on July 6,2023 SECTION 2 of Republic Act 8799, or the “Philippines’ Securities Regulation Code,” declares that the State shall establish a socially conscious, free market that regulates itself, encourage the widest participation of ownership in enterprises, enhance democratization of wealth, promote the development of the...

By Nica Marsha Gasapo on June 22,2023 THE board of directors of a corporation is the seat of corporate power. Under the law, the board is clothed with authority to exercise the corporate powers, conduct all business and control all properties of the corporation. The election of the members of...

 By Euney Marie Mata-Perez on June 15,2023 THE outstanding capital stock of a corporation shall constitute a trust fund held by the corporation for the benefit of its creditors. It shall not be returned to the stockholders by repurchase of shares, except in the manner as provided for under the...

By Euney Marie Mata-Perez on June 8,2023 THE structure of a company’s ownership and control greatly influences its corporate governance. Thus, the success of a company’s corporate governance is also determined by its permitted shareholding structure. A question that should then be addressed by our Securities and Exchange Commission (SEC)...

By: Atty. Jan Ethan Gordola on May 11,2023 IN the recent decision of Bases Conversion and Development Authority and John Hay Management Corp. v City Government of Baguio City (BCDA v Baguio Case, GR 192694. Feb. 22, 2023), the Supreme Court stated that “[t]he payment of fees for the issuance...

By Gladys Jane Dela Cruz on May 4,2023 IN last week’s article, we discussed that to qualify for value-added tax (VAT) zero-rating under Section 108(B)(2) of the National Internal Revenue Code, the following elements must be present: (1) the recipient of the services is a foreign corporation doing business outside...