Is Citira ready to tax the digital economy?
BusinessMirror - 2020-01-27
But whether that income can be taxed is another matter. Our current Tax Code says that an income from the performance of a service is taxed only if performed in the country. The same rule was carried in Corporate Income Tax and Incentives Rationalization Act (Citira) under House Bill 304. The determining factor to tax is the place where the ...

OFWs in South Korea to receive pay increase beginning this month
BusinessMirror - 2020-01-27
"Effective on January 1, 2020, employees in Korea, regardless of their employment status, or nationality, will now receive an hourly minimum wage of 8,580 Korean won from the 8,350 won hourly rate in 2019," the Philippine Overseas Employment Administration (POEA) said in an advisory. POEA said this translates into a monthly minimum wage ...

Marcos urges review of EDCA
CNN Philippines - 2020-01-27
Metro Manila (CNN Philippines, January 27) -- A lawmaker is seeking a review of the Enhanced Defense Cooperation Agreement (EDCA) between the Philippines and the US over its possible violation on ...

GDP growth and Fidel Nemenzo support growth
BusinessWorld - 2020-01-27
Ferdinand Manegdeg, Dean of the UP College of Engineering, who has no PhD ... The Chancellor would be busy positioning UPD in the forefront of advance science and technology research, and teaching to help prepare the country in the current Fourth Industrial Revolution (FIRe) and artificial intelligence (AI) advances. Outmoded claims of commie ...

UK: Brexit And Intellectual Property - Q1 2020
Mondaq - 2020-01-27
and the EU Withdrawal Bill having been passed by the UK Parliament, the UK will now formally leave the EU on 31 January 2020. Our Brexit team look at how Britain's changing relationship with the EU will impact key forms of intellectual property, including patents, trade marks and designs.

Consunji firms to buy back units in quake-damaged condos at 125% to 150% of purchase cost, from 200% as demanded
MindaNews - 2020-01-27
Utility room on the ground floor of Verdon Parc, post-quake. Photo by JAMES PATOC It also said that for title-transferred accounts, the unit owner will shoulder the 6% capital gains tax but remittance to the Bureau of Internal Revenue will be facilitated by DMCI Homes. The offer to refund, it added, "shall terminate once (OCBO) allows the ...

DOE keeps close eye on TRAIN Law implementation
Gov - 2020-01-27
This accounts to over ten percent of the 9,003 retail outlets nationwide. The DOE assures the public that it will continue monitoring retail outlets and their implementation of the taxation scheme to uphold the best interests of all consumers.(DOE)

DOE keeps close eye on TRAIN Law implementation
Gov - 2020-01-27
This accounts to over ten percent of the 9,003 retail outlets nationwide. The DOE assures the public that it will continue monitoring retail outlets and their implementation of the taxation scheme to uphold the best interests of all consumers.(DOE)

India: Netflix Faces Copyright Infringement Suit For Bikram: Yogi, Guru, Predator
Mondaq - 2020-01-27
Netflix is facing a copyright infringement suit for its documentary Bikram: Yogi, Guru, Predator. Ghosh's Yoga College, based in Kolkata, claims video footage and photographs used in the documentary belongs to the institute, and demands its immediate removal. The documentary showcases certain footage from of Bikram learning yoga and attending ...

DOE keeps close eye on TRAIN Law implementation
Gov - 2020-01-27
This accounts to over ten percent of the 9,003 retail outlets nationwide. The DOE assures the public that it will continue monitoring retail outlets and their implementation of the taxation scheme to uphold the best interests of all consumers.(DOE)

New REIT framework to keep property, infra sectors buoyant
Philippine Daily Inquirer - 2020-01-27
schools, and toll roads," Colliers said in a research note. A REIT gives investors the option to invest directly in the finished products that are already earning money, such as residential and office rental units, hotels or shopping malls or even infrastructure ventures. This was meant to attract investors because the Philippine REIT law of ...

POGO tax collections reach P6.42 billion in 2019 - 2020-01-26
"We heard from sources that their employees come and go," the BIR official said. Guballa also said that the increased crackdown against offshore gaming operators did not discourage some players from conducting business in the Philippines. "Others say they want to register, they want to secure a licence," he said. There are currently 60 ...

DENR cites gains in Manila Bay cleanup
Philippine Daily Inquirer - 2020-01-26
MANILA, Philippines -- The waters of Manila Bay, world-famous for its sunset, have shown signs of improvement a year after the environment department and other government agencies launched a drive to clean up what has been called a "gigantic septic tank." Officials touted Baseco Compound, a huge slum by the bay in Tondo, Manila, as one of ...

Lower courts resolve more cases
Philippine Daily Inquirer - 2020-01-26
Peralta also updated lawyers on the formation last year of the Judicial Integrity Board (JIB) and the Corruption Prevention and Investigation Office (CPIO) which were created in 2018 when the Supreme Court amended Rule 140 of the Rules of Court. The JIB was tasked to act on complaints against erring justices, judges and court personnel while ...

POEA allows Filipino workers to go home, return to Libya
Philippine Daily Inquirer - 2020-01-26
MANILA, Philippines -- The Philippine Overseas Employment Administration (POEA) has allowed the issuance of overseas employment certificate (OEC) or exit clearance to Filipino workers who intend to go home to the Philippines and return to their jobs in Libya on certain conditions. The POEA governing board chaired by Labor Secretary Silvestre ...

BIR RDO 24 conducts relief ops for Taal disaster-stricken Pinoys
BusinessMirror - 2020-01-26
OFFICIALS and employees of Bureau of Internal Revenue (BIR)-Valenzuela or Revenue District Office (RDO) 24 conducted relief operations for those affected by the Taal Volcano eruption in Batangas. Rufo B. Ranario, head of RDO 24, said that they distributed canned goods, bottled water, blankets, toiletries and slippers to the residents of San ...

Peza bucks DOF on tax perks overhaul
Philippine Daily Inquirer - 2020-01-26
The Philippine Economic Zone Authority (Peza) is asking Congress to limit the power that the Department of Finance (DOF) would have over tax breaks, pitting itself against the seat of power in ...

Amid virus fears, rules for cleaning planes tightened
BusinessMirror - 2020-01-26
Monreal added that additional hand sanitizers were installed at the immigration counters, customs, airport toilets and at the arrival lobby of the four terminals. "These are easily accessible to all incoming passengers and airport employees to help prevent the spread of the novel coronavirus." Building attendants at Naia terminals are also ...

Pimentel: Up to Palace, Senate to declare Angkas owner persona non grata
Philippine Daily Inquirer - 2020-01-26
MANILA, Philippines -- Sen. Aquilino "Koko" Pimentel III said Sunday that he would just let MalacaƱang and his colleagues in the Senate decide the fate of the Singaporean owner of motorcycle taxi service Angkas, whose deportation he earlier sought. Pimentel, head of the Senate foreign relations committee, said he was just expressing his ...

DOE: 900 outlets hike excise taxes on fuel
BusinessMirror - 2020-01-26
The DOE made an assurance that it will continue to monitor retail outlets and their implementation of the taxation scheme to "uphold the best interests of all consumers." "The DOE has been undertaking all necessary measures to ensure that all tranches of excise taxes on petroleum products are properly implemented.

CA delays payment of arrears by shuttered AMA Rural Bank
BusinessMirror - 2020-01-26
State-run Philippine Deposit Insurance Corp. (PDIC) has announced that the payment of deposit insurance to more than 8,000 depositors of the shuttered AMA Rural Bank of Mandaluyong Inc. will have to wait longer as the Court of Appeals (CA) issued a writ of preliminary injunction preventing them from further pursuing deposit insurance and ...

OFWs may cite humanitarian grounds for working in Libya
BusinessMirror - 2020-01-26
The Philippine Overseas Employment Administration (POEA) said overseas Filipino workers (OFWs) in Libya may now cite humanitarian grounds to be given exemption from the existing deployment ban in ...

Higher FDI seen with CITIRA in place
BusinessWorld - 2020-01-26
The Philippine central bank expects FDI net inflows to hit $8.8 billion this year, higher than its $6.8 billion target for 2019. Cheuk Wan Fan, chief market strategist for Asia at the Hongkong and Shanghai Banking Corp., earlier said Philippine FDI this year would probably remain at the same level if uncertainties about the proposed income tax ...

EU removes Philippines from priority watchlist - 2020-01-26
MANILA, Philippines --The European Union (EU) has removed the Philippines in its list of countries with weak intellectual property rights (IPR) protection and enforcement. While the Philippines was removed from the priority list, the EU said it would closely monitor developments in the country. "The Philippines was removed from the priority ...

Tax issue hounds NAIA rehab talks - 2020-01-26
MANILA, Philippines -- Another concession agreement between the government and the private sector is facing headwinds, this time over the P102-billion rehabilitation of the NAIA. Jose Ma. Lim, president and chief executive officer of Metro Pacific Investments Corp. (MPIC), one of the seven conglomerates that form the NAIA consortium, said an ...

LGU tax collections in 9 months to Sept. top P200B
BusinessWorld - 2020-01-26
TAX collections by local government units (LGU) topped P200 billion in the nine months to September, with nearly half consisting of business taxes, the Bureau of Local Government Finance (BLGF) said. LGU overall collection efficiency rose to 84% during the ...

POEA sets rules on Tripoli deployment
BusinessWorld - 2020-01-26
The Filipino worker may also have to attend urgent banking and financing transactions, file a court case or appear in court hearings, the agency said. The Philippine embassy can also determine other valid grounds for the exemption. Last year, the Foreign ...

?6.42-B taxes seized from erring POGOs in 2019
CNN Philippines - 2020-01-26
Metro Manila (CNN Philippines, January 26) - The government collected ?6.42 billion in total taxes from Philippine offshore gaming operators (POGOs) and their service providers in 2019, the Department of Finance (DOF) said over the weekend. This amount was ?4.04 billion or 169 percent more than the collected ?2.38 billion worth of tax ...

BIR halts tax filling, payments in Batangas due to Taal eruption
CNN Philippines - 2020-01-25
Metro Manila (CNN Philippines, January 25) -- The Bureau of Internal Revenue (BIR) has suspended the deadlines for the filling and payment of tax returns in Batangas province in consideration of the impact of the eruption of Taal Volcano. In a revenue memorandum circular no. 7-2020 dated Jan. 14, BIR recommended the temporary suspension of tax ...

Exporters told to build own profitable market niche, focus on indirect sales
BusinessMirror - 2020-01-24
The paper said Philippine SMEs are having difficulty competing with companies from other Asean and East Asian countries. "The lower cost of labor and the bigger government support that SMEs enjoy in competitor countries compared to the Philippines are making it harder for Philippine SMEs to compete in international markets. Given that these ...

Palace OKs total deployment ban on Kuwait OFWs
Philippine Daily Inquirer - 2020-01-24
President Rodrigo Duterte has approved the imposition of a total deployment ban on Kuwait-bound Filipino workers amid findings that a slain Filipina domestic worker was also sexually abused.

Police plan to prevent unions from organizing hit - 2020-01-24
Citing Labor Department data, Defend Job Philippines said that out of the 41,000,000 Philippine ... either highly developed or have the potential to be developed into business centers. To attract investors, the government grants incentives to businesses ...

Lacson presses SC to rule on international agreements like VFA
Philippine Daily Inquirer - 2020-01-24
MANILA, Philippines-- Senator Panfilo Lacson pressed the Supreme Court on Friday to rule soonest on the issue whether or not the President can unilaterally terminate a treaty or a ...

Worldwide: World Intellectual Property Report 2019
Mondaq - 2020-01-23
Earlier this month the World Intellectual Property Organization released its biennial report on the global state of innovation and intellectual property. A key finding was that innovative activity was increasingly collaborative and transnational, while originating in a few large clusters located in a small number of countries. The report ...

TUCP: Common, unified and adaptive government mechanism needed to help distressed OFWs
BusinessMirror - 2020-01-23
He said this was apparent from the testimonies of representatives from Department of Labor and Employment (DOLE), Department of Foreign Affairs (DFA), Philippine Overseas Employment Administration (POEA), Overseas Workers Welfare Administration (OWWA), and even recruitment agencies, who attended the 6-hour hearing. "These government agencies ...

US to impose visas restrictions for pregnant women
Philippine Daily Inquirer - 2020-01-23
WASHINGTON -- The Trump administration is coming out Thursday with new visa restrictions aimed at restricting "birth tourism," in which women travel to the U.S. to give birth so their ...

US earmarks P5.1 million for Taal relief - 2020-01-22
The other day, OWWA brought two generator sets to the Alfonso Elementary School in Lemery ... The agency is working with the Department of Information and Communications Technology for a plan to set up mobile emergency telecommunication stations in ...

OWWA launches Task Force Taal Libreng Tawag in Alfonso, Cavite
Gov - 2020-01-22
PASAY CITY, Jan. 22--The Overseas Workers Welfare Administration (OWWA) has put up Task Force Taal Libreng Tawag to offer domestic and international calls, a charging station, free Wi-Fi, and other ancillary services to Taal evacuees sheltered in evacuation centers in Cavite and Batangas. For its pilot operation Monday, January 20, the OWWA ...

Data automation and predictive analytics --hot topics for business in the new year
BusinessMirror - 2020-01-21
Graph technology simplifies the task of linking people, places, times, and things, and can speed times to market for business insights. People in operations have to be trained along these lines--that training is available on a "ladderized" basis. Businesses and IT departments will begin to look at their analytics apps in the same light ...

A Northeastern University student from Iran has been removed from the US. His attorney says he had a student visa
CNN Philippines - 2020-01-21
"Applicants must demonstrate they are admissible into the US by overcoming all grounds of inadmissibility including health-related grounds, criminality, security reasons, public charge, labor certification, illegal entrants and immigration violations, documentation requirements, and miscellaneous grounds." Northeastern University also said it ...

With love, from the Bangsamoro
BusinessMirror - 2020-01-21
Cotabato City--It was a hot, sunny day in Cotabato City, hundreds of miles away from heated debates on whether business establishments in Tagaytay City, should reopen while its volcanic neighbor threatens to erupt once more. As I approached the steps leading to the Office of the Chief Minister (OCM) Building, I saw several trucks parked in ...

LOOK: OVP distributes food packs donated by anti-poverty partners
Philippine Daily Inquirer - 2020-01-21
Robredo previously visited Taal victims, days after the volcano erupted -- but not without controversy. After her visit, administration ally and Overseas Workers Welfare Administration (OWWA) Deputy Administrator Margaux "Mocha" Uson shared an unverified article claiming that Robredo only distributed pan de sal (salted bread).

PH eases real estate investment trust rules
Philippine Daily Inquirer - 2020-01-21
The Department of Finance (DOF), Securities and Exchange Commission (SEC), Bureau of Internal Revenue (BIR) and Philippine Stock Exchange (PSE) launched on Monday coordinated rules on securities and revenue regulation as well as public listing of REITs. They removed stringent tax and minimum public ownership (MPO) requirements that prevented ...

25 ex-OFWs benefit from OWWA reintegration program
Gov - 2020-01-21
OIC OWWA 2 Director (fourth from L) attends the graduation ceremony of 25 former OFWs who have undergone a skills training of the agency's reintegration program held at Salindingan, City of Ilagan on January 15, 2020. (Photo from OWWA 2) CITY OF ILAGAN ...

Business typhoon - 2020-01-20
In business, issuance of an electronic Letter of Authority (eLA) and its concomitant tax audit investigation (audit) by the Bureau of Internal Revenue (BIR) may be considered as the start of a typhoon by business stakeholders. An audit, if not handled well, may cost millions or billions of pesos to an entity being audited. What is the process ...

NCRPO cracks down on cops using stolen cars - 2020-01-20
MANILA, Philippines -- The National Capital Region Police Office (NCRPO) yesterday launched a crackdown on policemen using stolen vehicles recovered in operations for personal use. NCRPO director Brig. Gen. Debold Sinas said they started checking the license plates of cars used by police officers on orders of Philippine National Police (PNP ...

Government issues amended REITs rules, regulations - 2020-01-20
MANILA, Philippines -- The government has issued the new implementing rules and regulations (IRR) of the Real Estate Investment Act of 2009, a move seen to spur the growth of the sector. With the issuance of the IRR, the REIT industry is seen to finally take off, Securities and Exchange Commission chairperson Emilio Aquino said. Companies that ...

UK looks to fast-growing Africa for trade ties after Brexit
Philippine Daily Inquirer - 2020-01-20
He pledged that the post-Brexit immigration system would "put people before passports," acknowledging a common frustration across Africa. While other global powers including Gulf nations and ...

Lotte Group founder Shin Kyuk-ho dies at 98
CNN Philippines - 2020-01-20
(CNN)-- Lotte Group founder Shin Kyuk-ho, the billionaire tycoon who turned a chewing gum business into a sprawling corporate empire, died on Sunday in Seoul. He was 98. Shin's death marks the end of an era. He was the lone surviving founder of the five giant, family-run conglomerates -- Hyundai, LG, Lotte, Samsung and SK -- that dominate ...

Make SLEx toll-free for Taal relief teams - labor group
Philippine Daily Inquirer - 2020-01-20
MANILA, Philippines -- The tollway operator in charge of three expressways linking Metro Manila to Batangas province was asked on Sunday to waive all toll for private groups and individuals ...

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