Category Archives: Business & Corporate

What’s this legal animal called AMLA?

Posted on May 15, 2012 by Atty. Fred| Leave a comment

The public is glued to their TV sets, following the blow-by-blow coverage of the impeachment proceedings against Chief Justice Renato Corona in the Senate. The proceedings being legal in nature, new terms and concepts are being thrown around like pancakes. Recently, it’s the AMLA. Read more »

Posted in Business & Corporate, Criminal Law, Money & Finance

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Receivership of Export and Industry Bank (EIB)

Posted on April 27, 2012 by Atty. Fred| Leave a comment

The Banko Sentral ng Pilipinas (BSP) announced that the Monetary Board, through MB Board Resolution No. 686 dated 26 April 2012, placed the Export and Industry Bank, Inc. (EIB) under receivership on 26 April 2012. Read more »

Posted in Business & Corporate, Legal Wiki, Money & Finance

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Additional P22 for Workers in Napital Capital Region (NCR), effective 26 May 2011

Posted on May 30, 2011 by Atty. Fred| 1 Comment

An additional P22 cost-of-living allowance (COLA), effective 26 May 2011, is granted to workers in the National Capital Region (NCR). The P22 COLA is contained in Wage Order No. NCR-16 (full text) issued on 9 May 2011 by the Regional Tripartite Wages and Productivity Board-National Capital Region (RTWPB-NCR) and published in the Philippine Daily Inquirer on 11 May 2011. Read more »

Posted in Business & Corporate, HR & Labor

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SEC online verification still down

Posted on July 4, 2008 by Atty. Fred| 4 Comments

If you’re frustrated that you still can’t use the online verification and reservation system of the Securities and Exchange Commission (SEC), maybe you’re not alone. It has been weeks that the system is down, which means that the SEC is back to the slower manual mode. Well, I’m not really that frustrated because we were been able to complete a number of registrations despite the glitch, although we have to explain to clients why the registration takes longer than usual. Besides, I understand that the SEC (rather, its service provider) is doing what it can to restore the system. Here’s the SEC advisory in case you’ve missed it:
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Tax Amnesty Available until May 2008

Posted on April 18, 2008 by Atty. Fred| 3 Comments

The last day to avail of tax amnesty is 5 May 2008. Now, before you get excited because you may happen to have failed to file your income tax return by 15 April 2008, this tax amnesty refers to all national internal revenue taxes for the taxable year 2005 and prior years that have remained unpaid as of 31 December 2005. Read more »

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Doing Business in the Philippines: The Most Problematic Factors

Posted on March 21, 2008 by Atty. Fred| Leave a comment

Just recently, the World Economic Forum released its Global Competitiveness Report for 2007-2008. The Philippines is ranked 71 in the Global Competitiveness Index rankings. This is definitely not something to be happy about, as the Philippines is 71 out of 131 countries/economies ranked, and lagging behind its neighbors, including Korea (11), Taiwan (14), Malaysia (21), Thailand (28), India (48), Indonesia (55), Vietnam (68) and Sri Lanka (70). The more interesting aspect of the Report is the portion on The Most Problematic Factors for Doing Business in the Philippines. It’s very significant to note that the top half of the perceived problems — the worst problems — are attributable to the government. Read the rest of this entry.

Posted in Business & Corporate

Insolvency and Criminal Cases

Posted on June 25, 2007 by Atty. Fred| 14 Comments

One concern of creditors in filing a case for collection is the possibility of getting nothing in the end because the debtor has no properties to satisfy the judgment award, while spending more money for legal fees. A pyrrhic victory, so to speak. In fact, I often come across debtors dropping the hint of filing, or actually filing, a case for insolvency or bankruptcy just to bring home the (alleged) point that they have nothing more to cough out. Read more »

Posted in Business & Corporate, Criminal Law, Money & Finance

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Tax amnesty extended

Posted on November 1, 2006 by Atty. Fred| Leave a comment

Well, not exactly like the old amnesty. The Bureau of Internal Revenue (BIR) has extended, until 22 December 2006, the “One-Time Administrative Abatement” of all penalties/surcharges and interest on all delinquent accounts and assessments. The guidelines are spelled out in Revenue Regulation 15-2006.

We will discuss this later at the Forum.

Posted in Business & Corporate, Money & Finance