SC nixes P25-billion financial aid to shuttered Banco Filipino
BusinessMirror - 2018-08-14
THE Supreme Court has upheld a ruling by the Court of Appeals barring the release of up to P25 billion in financial assistance and other regulatory reliefs to the defunct Banco Filipino Savings and Mortgage Bank. In a 26-page ruling penned by Associate ...

LGUs buck tax amnesty, decry intrusion on powers
BusinessMirror - 2018-08-14
THE League of Provinces of the Philippines on Tuesday expressed opposition to Part B of the Tax Reform for Acceleration and Inclusion (TRAIN) law, which seeks to grant tax amnesty. At a hearing of the House Committee on Ways and Means, Angelica Sanchez ...

DoF discovers fake cigarette machines
thestandard.com.ph - 2018-08-14
Finance Secretary Carlos Dominguez III on Tuesday ordered the Bureau of Internal Revenue and Bureau of Customs to track the source of counterfeit cigarette machines that were allegedly smuggled into the country. Dominguez instructed officials of the BIR ...

Buloy Al
BusinessMirror - 2018-08-14
But not only was Mayor Al brilliant in city management and business concerns. He was also adept as well at many other disciplines, sports being one Jake P. Ayson, Sergs Austria and Tony Sisante, to stage what other cities in the world would not dare touch ...

Special Rules Governing Rejection of Certain Intellectual Property Licenses in Bankruptcy
Lexology - 2018-08-14
In In re SIMA Int'l, Inc., 2018 WL 2293705 (Bankr. D. Conn. May 17, 2018), the U.S. Bankruptcy Court for the District of Connecticut ruled that a chapter 7 trustee's rejection of an intellectual property license agreement did not deprive the licensee of ...

Blacklisted Australian rights activist leaves Philippines
Rappler - 2018-08-14
MANILA, Philippines - An Australian professor left the Philippines ... engaging in political activities after he attended a protest in 2015. The former law school dean denies the charges. "I am not a terrorist. I am a human rights defender," Boehringer ...

DoF sees P1.2-trillion additional deficit
thestandard.com.ph - 2018-08-14
Over the weekend, influential business organizations appealed to legislators to weigh carefully the costs and risks associated with the proposed monumental shift to a federal system of government. The organizations--The Philippine Chamber of Commerce and ...

Cows help rehabilitate prisoners in Sweden
thestandard.com.ph - 2018-08-14
Inmates at Rodjan are serving sentences for all types of convictions, ranging from driving without a licence to tax crimes or assault ... Alfred does not see himself staying in the farming business after completing his sentence, even though he grew ...

Federalism and the destruction of local governments
thestandard.com.ph - 2018-08-14
I write this eighth of my series of columns on the proposed constitution. As in every column, this is a constructive attempt to engage the country on the new constitution that has been endorsed by President Duterte to Congress for its deliberation if and ...

GIS EXCLUSIVE: Employers vow to regularize 300,000 workers this year - Bello
UNTV - 2018-08-14
Giant firms such as SM Retail Inc. and Jollibee Foods Corporation are also members of ECOP. Meanwhile, Bello admits they lack available labor law compliance officers to complete the inspection of 800,000 business establishments in the country. Since ...

Building skilled builders
The Visayan Daily Star - 2018-08-14
To address the challenges, DPWH Sec. Villar said they are in continuous coordination with the Technical Education and Skills Development Authority and the Department of Labor and Employment. He also sees the growing demand for workers in the industry as a ...

Duterte slated to visit Israel on September 2
UNTV - 2018-08-14
Quezon provided a sanctuary to an estimated 1,300 Jewish ... corruption ax" hit two high-ranking military officials and other personnel of the AFP Medical Center (AFPMC), according to Presidential Spokesperson Harry Roque on Monday (August 13).

Prince Retail to invest P250M on new outlets
philstar.com - 2018-08-14
Despite the climbing inflation rate due to several factors like the unstable exchange rate and tax reform, Go said retail business in the Philippines remains lucrative, in fact some giant retail players already expressed intentions to partner with Prince ...

Senator: Plebiscite for federalism won't happen in 2019
CNN Philippines - 2018-08-14
said Escudero. "As the saying goes, if it ain't broke, why fix it?" As an alternative to federalism, the senator suggested shifting the internal revenue allotment to 60 percent for local governments and 40 percent to the national government, instead of the ...

SC limits Senate detention period for persons cited in contempt
Rappler - 2018-08-14
MANILA, Philippines - The Supreme Court has ruled that the Senate has no power to impose the indefinite detention of a person cited in contempt during its inquiries. In a 21-page en banc decision penned by Associate Justice Alexander Gesmundo ...

End BIR corruption? Abolish it, says expert
Rappler - 2018-08-14
MANILA, Philippines - The government has been aggressively working on revamping the country's tax system through a tax reform law - with a sequel on the way - but such efforts would go to waste if the Bureau of Internal Revenue (BIR) continues to be ...

Elderly Aussie lawyer ordered to leave today sans medical clearance
Bulatlat - 2018-08-14
In a statement, the Confederation of Lawyers in Asia and the Pacific (COLAP) condemned the denial of legal counsel and the immigration ban against Boehringer. "Boehringer, is a known human rights lawyer and advocate of the rights of indigenous people ...

Vox Anima Cebu wins at B-Pop: The Acapella Challenge
philstar.com - 2018-08-14
The competition was presented by the Primary Group of Builders in benefit of the School of Knowledge, Industrial Labor, Leadership and Services (SKILLS) of the Primary Structured Educational Foundation ... Vox Anima Cebu, The Technical Department and ...

DOLE-Caraga grants P1.48M livelihood assistance to Dinagat rural workers
Philippine Information Agency - 2018-08-14
SURIGAO CITY, Aug. 14 -- The Department of Labor and Employment - Province of Dinagat Islands (DOLE-PDI), in partnership with the local government units of Basilisa and Tubajon, handed over PhP1.48 million worth of check to 90 beneficiaries of livelihood ...

Duterte to make historic Israel trip September 2-5
Rappler - 2018-08-13
Duterte and Netanyahu will discuss ways to cooperate "in the areas of labor, tourism, trade, agriculture, counterterrorism, and security and law enforcement." They will also sign several agreements during Duterte's visit. At the same time, Duterte will ...

DOF: Federalism to lead to P1.2-T deficit in 1st year
BusinessMirror - 2018-08-13
He pointed out that while the draft Charter contains provisions on the taxation powers of the Federal Government and the Federated Region and a provision on revenue assignment in which the Federated Regions shall be given a 50-percent share in income ...

Groups reiterate call vs. single-use plastics
BusinessMirror - 2018-08-13
Mother Nature, indeed, has her way of fighting back as heavy rains brought about by the southwest monsoon triggered strong waves that washed ashore tons of garbage along the shores of the historic Manila Bay in Manila. The incident prompted various ...

DOJ files for issuance of HDO vs Peter Lim in Makati court
BusinessMirror - 2018-08-13
"Thus, in order to frustrate the ends of justice, as when accused Lim flees to another country in order to escape Philippine criminal jurisdiction, it is imperative that a hold departure order be issued directing the Commission of the Bureau of ...

Tax academy certified for CPA continuing education
BusinessWorld - 2018-08-13
THE PHILIPPINE Tax Academy (PTA) has obtained accreditation from the Professional Regulation Commission (PRC) as a professional development program provider, the Department of Finance (DoF) said yesterday. The DoF said that courses and training programs ...

Constitutional change and transitory provisions: Lessons from history
BusinessWorld - 2018-08-13
Article XVII, Section 3 (1) provided, however, that "the incumbent President of the Philippines shall initially convene the interim National Assembly. . ." Furthermore, the incumbent president "shall continue to exercise" his powers under the 1935 ...

TRAIN 2: A tax reform for businesses
BusinessWorld - 2018-08-13
The preferential 15% CIT (Corporate Income Tax) can last for five years (HB 7214, 7458, and 7364) or up to fifteen years (HB 231). The five percent tax on gross income earned will be removed under HB 7458 and HB 7214, but they have notably been retained ...

DOJ wants hold departure order vs Peter Lim
Rappler - 2018-08-13
An HDO would prevent the individual from flying out of the country. There has been an existing immigration lookout bulletin order (ILBO) against Lim since July 2017, but an ILBO just requires monitoring a person's movement and cannot stop him from leaving ...

TRAIN-2: The Sequel Makes Things Worse
Bulatlat - 2018-08-13
Bureau of Internal Revenue (BIR) collections consist of direct and indirect taxes. Direct taxes are progressive because they are imposed on individuals and corporations according to their wealth, income, or property. CIT, PIT, estate and donor taxes are ...

Inflation storm
thestandard.com.ph - 2018-08-13
Alongside calls to immediately implement mitigating measures are calls to rethink and even suspend it. As far as taxation issues go, for instance, there are chronically massive gaps in the administration of government revenues and a lifelong example is the ...

Garments sector eyes 20% export growth
thestandard.com.ph - 2018-08-13
Chinese manufacturers are still assessing the current labor situation and the taxation policies in the Philippines. These are two major points the Chinese companies consider when locating out of China, she said. She said Philippine labor was just as ...

Govt capital expenditures surged 42% in six months
thestandard.com.ph - 2018-08-13
Tax revenues grew 17.4 percent in the first six months, with the Bureau of Internal Revenue collections rising 13.7 percent and the Bureau of Customs collections growing 32.9 percent, both exceeding the 9.6-percent nominal GDP growth. "This is due to ...

PLDT works to regain lost ground from DOLE order
philstar.com - 2018-08-12
information technology (IT) firms and services; IT support services, both hardware and software; applications development; back office support and office operations; business process outsourcing or call centers; sales; and medical, dental engineering and ...

CA affirms ruling halting right of MRTDC to lease, sell ad space in MRT3 system
BusinessMirror - 2018-08-12
THE Court of Appeals (CA) has affirmed its decision issued in March 2018 preventing the MRT Development Corporation (MRTDC) from exercising its advertising and commercial leasing rights over the MRT 3 system pending the result of arbitration proceedings ...

A great journey
BusinessMirror - 2018-08-12
This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to [email protected]

DOLE seeks funds to hire more labor inspectors
BusinessMirror - 2018-08-12
Despite its need for additional labor inspectors for its campaign against illegal contractualization next year, the Department of Labor and Employment (DOLE) said the request remains unfunded for now. Labor Secretary Silvestre H. Bello III disclosed in an ...

Taxation of fintech companies in the Philippines
BusinessWorld - 2018-08-12
Also, considering that the fintech industry in the Philippines is just in its infancy, a Minimum Corporate Income Tax (MCIT) of 2%, in lieu of the regular 30% Regular Income Tax, may be imposed on a new fintech company beginning on the fourth taxable year ...

LUGAR LANG: Where is my baby and why?
MindaNews - 2018-08-12
It debunked the myth of maternal instinct in one scene. The Responsible Parenthood and Reproductive Health bill languished in Congress for decades before it was passed in 2012. But its implementation was delayed for years because of a temporary restraining ...

114 girls passed off as adults denied travel at NAIA
Journal - 2018-08-12
It can be recalled that in July, the Manila Police District rescued more than 40 women -- some of them minors -- during a raid in Sta. Cruz, Manila. They were reportedly illegally recruited from Mindanao and offered work as household service workers in ...

Dulay to grace Baguio Charter Day
Sun Star - 2018-08-12
The BIR chief is a Philosophy and English graduate of Saint Louis University on 1966 and will venture into his first government position in his lifetime after he worked in the private sector. The chief executive said Dulay was previously invited but could ...

New Supreme Court justice: Jose C. Reyes Jr.
thestandard.com.ph - 2018-08-11
President Rodrigo Duterte has appointed Court of Appeals Associate Justice Jose C. Reyes Jr. as new Associate Justice of the Supreme Court, vice Associate Justice Presbitero Velasco Jr. who reached his mandatory retirement age of 70 last August 8.

Former Dagupan mayor Fernandez passes away at 75
thestandard.com.ph - 2018-08-11
Alipio "Al" Fernandez Jr., the former mayor of Dagupan City who also served as Immigration commissioner and Local Governments undersecretary, passed away on Thursday morning in Manila after a battle with cancer. He was 75. Fernandez was elected mayor ...

Offending religious feelings
thestandard.com.ph - 2018-08-11
Carlos was convicted by the Metropolitan Trial Court (MTC), the Regional Trial Court (RTC), and the Court of Appeals (CA). Carlos filed a petition with the Supreme Court questioning the constitutionality of The Offending the Religious Feelings law ...

Where is Peter Lim?
CNN Philippines - 2018-08-11
Metro Manila (CNN Philippines, August 11) -- The Justice Department believes alleged drug lord Peter Lim is in the country. In a text message to CNN Philippines Friday, Justice Secretary Menardo Guevarra revealed that Lim left for a "short trip abroad ...

CA justice appointed as new member of Supreme Court
BusinessWorld - 2018-08-10
He will hold his post as the High Court ... Ateneo Law School Cesar L. Villanueva. Prior to working in the CA, he worked for the Pasig City Metropolitan Trial Court and Rizal Regional Trial Court. He also took his law degree at San Beda College, which ...

Duterte appoints CA Associate Justice Jose Reyes as new SC justice
News Philippines Yahoo - 2018-08-10
Reyes is a law graduate of San Beda College and he is the fifth appointee of President Duterte in the Supreme Court. The post Duterte appoints CA Associate Justice Jose Reyes as new SC justice appeared first on UNTV News.

Court of Appeals justice appointed to Supreme Court
BusinessWorld - 2018-08-10
He also took his law degree at San Beda College, which was also the alma matter of President Rodrigo R. Duterte. Mr. Reyes is the fifth appointee of the president to the High Court since Mr. Duterte got into presidency in 2016. Special Assistant to the Pre ...

223 ARBs receive CLOAs
The Visayan Daily Star - 2018-08-10
Meanwhile, the National Labor Relations Commission in the province, mandated to resolve labor disputes, and DAR, linked up to efficiently resolve labor disputes. A press release from the Philippine Information Agency-Negros Occidental said, more than a ...

Japan dodges a recession, but it's not in the clear yet
CNN Philippines - 2018-08-10
"Firms are facing severe labor and capacity shortages that make it difficult to sustain above-trend growth," Thieliant said. He predicted that "activity will remain sluggish for now." Japanese companies that sell goods overseas are facing uncertainty from ...

DOJ charges Peter Lim for drug trade conspiracy
Rappler - 2018-08-10
(READ: 2002 House report proves Peter Lim lied over drug links - gov't lawyers) Asked whether they are sure if Lim is still in the Philippines, Navera said they will be coordinating with the Bureau of Immigration (BI) to make sure "our indictment is ...

Jose Reyes Jr appointed Supreme Court justice
Rappler - 2018-08-10
MANILA, Philippines - President Rodrigo Duterte has appointed Court of Appeals justice Jose Reyes Jr as new Supreme Court Associate Justice. Reyes' appointment was confirmed to Rappler by Special Assistant to the President Bong Go. Reyes will take his ...

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