Archive for the ‘Law’ Category
The Expanded Senior Act of 2010 (Republic Act 9994)
The Republic Act 9994 or the Expanded Senior Citizens Act of 2010 was finally signed into law, giving our senior citizens additional benefits. Among them is their exemption from the 12% value-added tax (VAT), as stated in the implementing rules and regulations signed last Friday by the Deparment of Social Works and Development (DSWD). This [...]
June 18, 2010
Tags: Expanded Senior Citizens Act of 2010, Government, Law, Philippines, RA 9994, Republic Act 9994, value-added tax, VAT exemption Posted in: Announcement, Consumers, Government, Health, Law, Philippines, Taxation, finance 
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Globe Asiatique gets SEC nod for IPO
Globe Asiatique gets the green light from Securities and Exchange Commission (SEC) for its planned initial public offering (IPO). The SEC approved the IPO of of Globe Asiatique Realty Holdings Corp. which is seen to raise up to P3.05 billion in fresh capital.
Globe Asiatique, on its statement filed with the SEC, said it will issue [...]
March 20, 2010
Tags: business news, Globe Asiatique, IPO, low-cost housing, money, Philippines, public offering, real estate, SEC, Securities and Exchange Commission, stocks Posted in: Announcement, Corporations, Government, IPO, Law, Opportunities, Philippine business news, Philippines, Stock Market, economy, finance, investments, money No Comments
Declare bets’ bank accounts
Now, here’s a good suggestion. Presidential aspirant Gilberto “Gibo” Teodoro Jr. wanted bets bank accounts bared.
The Lakas-Kampi-CMD standard-bearer said that the bank secrecy law should be lifted or at least be reviewed to help unmask the financial activities of politicians who are suspected to have links to the illegal drug trade.
Gibo was reacting to the [...]
March 6, 2010
Tags: bank secrecy law, banking law, finance, Philippines, RA 1405, Republic Act 1405 Posted in: Announcement, Government, Law, Philippine banks, Philippine business news, Philippines, banking, economy, finance, money No Comments
Senate Bill 3966, makes insurance firms pay for fortuitous events
Last year, at the onslaught of tropical storms Ondoy and Pepeng, many motor vehicles were swept and inundated by floods and landslides, rendering them inoperable and in many cases, beyond repair.
Car owners who filed claims from their insurance companies for their losses were met with the ‘acts of God’ clause in insurance policy, which frees [...]
January 22, 2010
Posted in: Announcement, Consumers, Customer Service, Government, Law, Philippine business news, Philippines, Products, economy No Comments
Companies with delinquent SSS contributions gets a reprieve
The Social Security System (SSS) records show that the unremitted premium contribution has already reached an estimated P109 billion, while the penalties amount to P280 billion. SSS President Romulo Neri said they don’t expect to collect all those penalties because a lot of companies are so hard up these days, but added that employers need [...]
January 8, 2010
Tags: business news, Philippines, RA 9903, Republic Act 9903, SSS, SSS penalties condonation Posted in: Announcement, Corporations, Government, Labor, Law, Philippine business news, Philippines, economy, finance, money One Comment
BIR to check on companies’ year-end inventories
Here’s one last attempt of the Bureau of Internal Revenue (BIR) to catch up of companies trying to pull a fast one on the revenue agency.
BIR field personnel will be going out and check the warehouses of companies to verify their year-inventories viz-a-viz their submitted year-end declaration.
Revenue Memorandum Order No. 40-2009 was issued by BIR [...]
December 28, 2009
Tags: BIR, businesses, entrepreneur, Government, Philippines, taxes Posted in: Announcement, Corporations, Government, Law, Philippine business news, Philippines, Pricing, Products, Taxation, economy, finance, money No Comments
No wage increase this year
Noting that the financial crisis is far from over, the National Wages and Productivity Commission (NWPC) said that there won’t be any salary increase this year. NWPC executive director Ciriaco Lagunzad said an increase in the daily minimum wage at this point might lead to displacement of workers and closure of commercial establishments, particularly the [...]
October 29, 2009
Tags: benefits, DOLE, economy, employees, Labor, NWPC, Philippines, salary, wage board, wages Posted in: Announcement, Government, Labor, Law, Philippines, economy, finance, money No Comments
Pilipinas Shell gets P22 M tax refund
Pilipinas Shell Petroleum Corp. will be getting P22 million in tax refund. That is because the Court of Appeals (CA) upheld the decision of the Court of Tax Appeals (CTA) to compel the Bureau of Internal Revenue (BIR) to refund or issue a tax credit certificate worth more than P22 million to Pilipinas Shell.
According to [...]
September 22, 2009
Tags: BIR, Court of Appeals, Court of Tax Appeals, documentary stamp tax, Philippines, Pilipinas Shell, tax credit certificate, tax refund, taxes Posted in: Announcement, Corporations, Government, Law, Philippine business news, Philippines, Taxation, money No Comments
Bayantel won’t give up bid for 3G license
Bayan Telecommunications, Inc. was denied in its bid to acquire a license to operate 3G (third generation) mobile service by the National Telecommunications Commission (NTC). But Bayantel is fighting for the 3G license and vows to file a motion for reconsideration before the Court of Appeals (CA).
The Lopez-owned telecommunications company said it would exhaust all [...]
August 25, 2009
Tags: 3G, 3G license, Bayantel, CA, mobile technology, NTC, PLDT, telco, telecommunications Posted in: Announcement, Government, Law, Philippine business news, Philippines 4 Comments
Pay parking proposed in Quezon City
A proposed ordinance in Quezon City aims to impose parking fees on “places of special interest” in the city. The proposed parking fees shall range from P20 to P150 for the first 3 hours depending on the type of vehicle.
“Places of special interest” is defined in the proposal as those where people congregate, including but [...]
August 22, 2009
Tags: "places of special interest", city ordinance, parking fees, pay parking proposal, proposed legislation, QC, Quezon City, safety Posted in: Announcement, Government, Law, Philippine business news, Philippines, money No Comments
