Tax-free exchange as estate planning tool is back
BusinessWorld - 2018-06-06
In Philippine practice, tax-free exchange has been liberally used as an estate planning tool. Generally, the estate tax (informally, inheritance tax) is higher if the property is passed on to the heirs directly, than if indirectly through a corporation.

Income-tax holiday: Delineating the jurisdictions of the BIR and BOI
BusinessMirror - 2018-06-06
The word "holiday" connotes a break, leave or a day off. More often than not, it brings pleasant perceptions, especially when used in conjunction with "income tax". In the Philippines, an income-tax holiday (ITH) is basically a break from the ...

Jing Paras sues 'liar' Trillanes over Senate confrontation
Rappler - 2018-06-06
MANILA, Philippines - Labor Undersecretary Jacinto "Jing" Paras on Wednesday, June 6, filed a complaint for grave threats against Senator Antonio Trillanes IV before the the Pasay City Prosecutor's Office. Paras accused Trillanes of threatening to "kill ...

FACT CHECK: NEDA didn't say family of 5 can live decently on P10,000 a month
Rappler - 2018-06-06
MANILA, Philipines - There was uproar on social media and strong criticism from labor groups and lawmakers over media reports that the National Economic and Development Authority (NEDA) supposedly said a Filipino family with 5 members needs only P10,000 ...

Trump defends border policy as UN says childrens' rights violated
Rappler - 2018-06-06
WASHINGTON DC, USA - The Trump administration defended Tuesday, June 5, its policy of separating illegal immigrant children from their parents as the United Nations demanded a halt to the "serious" violation of children's rights. President Donald Trump ...

Trillanes faces new complaint from Labor exec over threats
CNN Philippines - 2018-06-06
Metro Manila (CNN Philippines, June 6) -- Senator Antonio Trillanes is facing a complaint from a Labor official over grave threats the senator allegedly made. This is not the first time Labor Undersecretary Jacinto Paras, a former Negros Oriental ...

Nation to bolster intellectual property protections
China Daily - 2018-06-05
An employee works at a lab of SMIC (Semiconductor Manufacturing International Corporation), a leader in IC chip manufacturing. [Photo/IC] China will strengthen its protection and management of intellectual property, accelerate the commercialization process ...

Sandiganbayan acquits Tigas over Samal market case
thestandard.com.ph - 2018-06-05
The court concluded that neither Tigas nor Guinto took part in the transaction. Abella and Llanda may still appeal to the Court of Appeals, while the acquittal of Tigas and Guinto is final, the anti-graft court said.

TRAIN rolls on, Duterte team insists
thestandard.com.ph - 2018-06-05
"We really need to focus on the efficiency of our agencies," he said. He also cited the need to improve collection by the Bureau of Internal Revenue and the Bureau of Customs instead of just adding to the prices of goods. "Government services should ...

Immigration to deport fake Korean journalist
philstar.com - 2018-06-05
MANILA, Philippines -- A Korean wanted in his country for a string of fraud cases is set to be deported by the Bureau of Immigration. Immigration commissioner Jaime Morente identified the fugitive as Yun Jong Sik (33), who is subject of four outstanding ...

Florida Doctor suing Disney for copyright infringement
Orlando Sentinel - 2018-06-05
George Malki is accusing the Walt Disney Company of stealing from his book to create some of the characters in the Pixar movie "Inside Out." George Malki is accusing the Walt Disney Company of stealing from his book to create some of the characters in the ...

Australian nun: I did not violate terms and conditions of missionary visa
CNN Philippines - 2018-06-05
Metro Manila (CNN Philippines, June 5) -- Australian nun Patricia Fox on Tuesday maintained she did not violate the terms and conditions of her missionary visa. "All I can I say is I'm hopeful that this will be given due consideration in the case," Fox ...

Manila expected to push for mutual recognition of professionals in forthcoming PJepa review
BusinessMirror - 2018-06-05
POEA is targeting to deploy the first batch of Filipinos to Japan under the TITP during the third quarter of the year. Over 500,000 jobs are expected to be available in Japan under the TITP up to 2025.

SC defers final ruling on Sereno case
philstar.com - 2018-06-05
MANILA, Philippines -- The Supreme Court (SC) yesterday deferred ruling with finality on the ouster case against Chief Justice Maria Lourdes Sereno. In their resumption of session after a month-long decision writing recess, justices of the High Court ...

5 Key Takeaways: Importance of Intellectual Property for Fintech Companies
JD Supra - 2018-06-05
Kilpatrick Townsend Partner Jason Gardner spoke at the Carolina Fintech Hub on "Capturing Value Before It Floats Away: Importance of Intellectual Property for Fintech Companies," where he provided the following five key takeaways... Please see full ...

April sees more jobs; quality wanting
BusinessWorld - 2018-06-05
Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines (UnionBank), noted that agriculture "has always been a laggard, so this is not surprising." "It must be noted that employment in agriculture and its measurement is very tricky ...

Anthony Alden S. aguilar
BusinessMirror - 2018-06-05
Anthony Aguilar a senior partner of The Tax Offices of Romero, Aguilar & Associates and a former commissioner of the Presidential Commission on Good Government. He is a member of the MAP National Issues Committee and MAP Task Force for Taxation.

Senate relocation to BGC defended
BusinessMirror - 2018-06-05
Gatchalian added that many government agencies are also relocating to the area, citing as examples the Supreme Court and Energy Regulatory Commission.

Duterte to S. Korean businessmen: You'll be safe in PH
CNN Philippines - 2018-06-05
Metro Manila (CNN Philippines, June 5) -- President Rodrigo Duterte allayed fears of South Korean businessmen who want to invest in the Philippines, saying they would be safe in the country. Speaking at an event in Seoul Tuesday, the President ...

SC to hold oral arguments on PH withdrawal from Int'l Criminal Court
Rappler - 2018-06-05
It is tricky business because when the Philippines signed the Rome Statute in 2011, there was no provision mandating the Senate's concurrence in the event that it would be terminated in the future. In February 2017, 14 senators filed Senate Resolution No ...

SolGen has 5 days to comment on Sereno's ouster appeal
CNN Philippines - 2018-06-05
Metro Manila (CNN Philippines, June 5) -- The Supreme Court (SC) ordered Solicitor General Jose Calida on Tuesday to comment on the appeal filed by Maria Lourdes Sereno against her ouster "within the non-extendable period of five days from notice".

Court rejects arrest of Korean Air 'nut rage' matriarch
Rappler - 2018-06-05
She later served a short prison sentence. Earlier this year, her younger sister Cho Hyun-min was accused of throwing a drink at an advertising agency manager's face in a fit of rage during a business meeting. Their father, Cho Yang-ho, issued a public ...

Environmental lawyer praises ruling on landfill
philstar.com - 2018-06-05
CEBU, Philippines -- Environmental lawyer Antonio Oposa, Jr. commended the Court of Appeals for issuing a Writ of Kalikasan against the controversial landfill in Barangay Inayawan in Cebu City. The writ essentially bars the city government from reopening ...

U.S. Supreme Court rules for Colorado baker in same-sex wedding cake case
CNN Philippines - 2018-06-04
"Today's decision is remarkably narrow, and leaves for another day virtually all of the major constitutional questions that this case presented," said Steve Vladeck, CNN Supreme Court analyst and professor at the University of Texas School of Law.

What to expect at Monday's Apple event
CNN Philippines - 2018-06-04
Still, there's a chance he could mention immigration, gun control, or just wish everyone a happy Pride month. It wouldn't just be the CEO speaking from his heart. If limited product announcements are scheduled, Cook could drum up more coverage around the ...

Bam Aquino: People in tears over higher prices of fuel, goods
CNN Philippines - 2018-06-04
He added that the government could still make up for the ?70 billion it is expecting to collect from excise taxes by fixing the efficiency of government spending and the efficiency of collection by the Bureau of Internal Revenue and the Bureau of Customs.

Fish & Richardson Adds Distinguished Intellectual Property and Patent Litigator Esha Bandyopadhyay to Silicon Valley Team
The Business Journals - 2018-06-04
REDWOOD CITY, Calif., June 4, 2018 /PRNewswire/ -- Fish & Richardson has announced that Esha Bandyopadhyay has joined the firm's Silicon Valley office as a principal in the Litigation Practice Group. Bandyopadhyay brings close to two decades of experience ...

The war on corruption
thestandard.com.ph - 2018-06-04
Sereno did not submit a complete set of Statements of Assets, Liabilities and Net Worth, starting from when she was a professor at the University of the Philippines College of Law. This amounted to a violation of the Constitution, a betrayal of public trust.

Group says conditions ripe for picking new telco player, initiating reforms
newsbytes.ph - 2018-06-04
In a letter sent to Department of Information and Communications Technology ... "At any rate, bringing in the new player early allows it to already start building a core radio network and basic infrastructure, which in any event would be a pre-requisite ...

U.S. Supreme Court rules for baker in gay wedding cake case
Rappler - 2018-06-04
WASHINGTON, USA - The US Supreme Court on Monday, May 4, ruled in favor of a Colorado baker who refused to design a wedding cake for a same-sex couple, in a closely-watched case pitting gay rights against religious liberty. In a 7-2 decision, the high ...

Tax Notes: Filing excise tax returns for invasive cosmetic procedures
Sun Star - 2018-06-04
THE Bureau of Internal Revenue (BIR) issued a tax advisory amending the provisions on filing the excise tax on cosmetic procedures. Effective May 18, excise taxpayers must use BIR Form No. 0605 - Payment Form, indicating alphanumeric tax code (ATC ...

Aquino at Dengvaxia hearing: We did what we did to save lives
BusinessMirror - 2018-06-04
FORMER President Benigno S. Aquino III on Monday showed up at the Department of Justice (DOJ) to seek the dismissal of the criminal complaints filed against him and 44 others for their alleged role in the P3.5-billion Dengvaxia vaccine mess. At the ...

Wrong policies that keep oil prices and power rates rising
BusinessMirror - 2018-06-04
"From a policy perspective, there was no reason to privatize PNOC Petron even at the time. Why would a government in dire need of cash be willing to let go of a good source of income? PNOC was the biggest government corporation in terms of revenue.

Charges against Aquino hints at presidential cycle of prosecuting predecessor
InterAksyon - 2018-06-04
Former President Benigno Aquino III and former Health Secretary Janette Garin face reporters after they were summoned by the Commission on Elections law department to shed light on the Dengvaxia mess. (Photo by Edd Gumban/Philstar.com) Former President ...

Doing business in the Philippines made easier
BusinessWorld - 2018-06-04
It will be interesting to see the effect of RA No. 11032 in the months and years to come. Note that the Bureau of Internal Revenue (BIR), through its issuances, is striving to align with the objective of helping taxpayers streamline their registration ...

Owwa releases P7M for livelihood of OFWs
Sun Star - 2018-06-04
AS of May this year, the Overseas Workers Welfare Administration (Owwa) Davao Region has released more than P7 million for the Balik Pinas, Balik Hanapbuhay program that aims to assist distressed overseas Filipino workers (OFWs) who have returned home.

Fewer students enroll in Boracay schools amid closure
Rappler - 2018-06-04
Fernandez availed of the Department of Social Welfare and Development educational assistance, and had worked for the emergency work program of the Department of Labor and Employment. The social welfare department had already provided P910,000 worth of ...

Ex-President Aquino: Supreme Court 'forced' Sereno ouster
CNN Philippines - 2018-06-04
Metro Manila (CNN Philippines, June 4) -- Former President Benigno Aquino III on Monday said the ouster of former Chief Justice Maria Lourdes Sereno did not go through the proper process unlike the impeachment of her predecessor. "Masyadong pilit ang ...

Bunye: Swim at your own risk
Sun Star - 2018-06-04
Years ago, alarmed bay area residents filed a petition with the Supreme Court to compel the authorities to stop the further degradation of Manila Bay. The Supreme Court responded by issuing a continuing mandamus directing 11 government agencies ...

Anti-migrant party in front in Slovenia election
Rappler - 2018-06-04
Early elections were called in March after Cerar threw in the towel following months of public-sector strikes and internal wrangling within his coalition, with the last straw coming when a supreme court verdict on a flagship infrastructure project went ...

NPC seeks okay to hike power rates, cites TRAIN
BusinessMirror - 2018-06-03
Earlier, the Bureau of Internal Revenue reported that the net gain from the implementation of the TRAIN reached P12.5 billion in the first quarter of the year. "As crude oil prices [rose] dangerously in the world market, so did our revenues. since we ...

BIR seeks to speed up transactions
BusinessWorld - 2018-06-03
The Bureau of Internal Revenue led by Commissioner Caesar R. Dulay -- seen here at the left in a Feb. 13 official photo of the Senate with his boss, Finance Sec. Carlos G. Dominguez -- is one of key government offices that has been simplifying procedures ...

ERC: Power supply agreements without ECCs to be dismissed
BusinessWorld - 2018-06-03
Inc. It also has a PSA with St. Raphael Power Generation Corp., its joint venture with Consunji-led Semirara Mining and Power Corp. Meralco is also seeking approval for PSAs with Central Luzon Premiere Power Corp., Mariveles Power Generation Corp., Panay ...

Volatile trading expected this week
thestandard.com.ph - 2018-06-03
Weekly top price gainers were Vista Land & Lifescapes Inc., which rose 6.9 percent to P6.95; SM Investments Corp., which advanced 4.5 percent to P906.50; and Megaworld Corp., which climbed 4 percent to P4.90. Weekly top price losers were Petron Corp ...

Lawmaker: 'Disconnect' in how economic managers see TRAIN
CNN Philippines - 2018-06-03
Tinio's satements come after labor groups called for wage increase. In the House of Representatives, the Trade Union Congress of the Philippines (TUCP) filed on Thursday a bill to increase the minimum wage nationwide by ?320. The Makabayan Bloc on ...

De Lima: Probe 'influx of Chinese nationals' in Philippines
Rappler - 2018-06-03
With the Philippines relying on Chinese labor and clients, De Lima warned that "any change in policies by the China government could effectively stall, if not cripple, our local economy." The problem with illegal workers: De Lima added that the Chinese ...

Duterte to UN expert on judicial independence: Go to hell
CNN Philippines - 2018-06-02
Metro Manila (CNN Philippines, May 3) -- President Rodrigo Duterte blasted United Nations (UN) Special Rapporteur Diego Garc├şa-Say├ín early Sunday, telling the expert on judicial independence to "go to hell." "Sino 'yang rapporteur na 'yan?

Even the smartest millennials are stumped by Danish visa rules
BusinessMirror - 2018-06-02
DRUGS giant Novo Nordisk says lowering the drawbridge is essential to running a multinational business. Economists say immigrant workers have taken up 40 percent of new jobs created in Denmark over the past five years, helping the country avoid a ...

New lawyers warned about criticizing courts
CNN Philippines - 2018-06-02
Metro Manila (CNN Philippines, June 2) -- Be careful in criticizing the courts, an associate justice warned over a thousand new lawyers who took their oath Friday. "[The] right to speak in criticism cannot be unbounded," Associate Justice Lucas Bersamin ...

Bacolod can avail P4-B loan with Finance department
Sun Star - 2018-06-02
Ramos, chairperson of the City Council committee on sports, said the DOF study showed that Bacolod is entitled to apply a loan of P4 billion which is based on the city's Internal Revenue Allotment (IRA) and local sources of funds. "Bacolod is entitled to ...

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