Meat processors confer with DA to review border inspection rules

MEAT processing companies said they met with the Department of Agriculture (DA) to review the import inspection process and whether to adopt the international system for classifying regions where livestock diseases have broken out. In a statement, the Philippine Association of Meat Processors, Inc. (PAMPI) said its representatives met with Senior Undersecretary Domingo F. Panganiban […]

Philippines cedes tax revenue under global minimum tax rules

To expedite the revival of the economy from the pandemic and restore its trajectory towards upper middle-income status, the government has eased restrictions on foreign investment by amending foreign ownership rules for public services and retail. While the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law reduced our regular corporate income tax (CIT) rate […]

Twitter suspends several journalists, Musk cites ‘doxxing’ of his jet

Twitter on Thursday suspended the accounts of several prominent journalists who recently wrote about its new owner Elon Musk, with the billionaire tweeting that rules banning the publishing of personal information applied to all, including journalists. Responding to a Tweet on the account suspensions, Mr. Musk, who has described himself as a free speech absolutist, […]

BEPS 2.0: A Philippine perspective

More than a year since the OECD/G20 Inclusive Framework proposed the two-pillar approach, we have heard much about BEPS 2.0 from a global standpoint. In this article, we now look at the Philippine perspective, what MNEs in the Philippines should start considering and what’s at stake once it is implemented. LOOKING BACK ON BEPS 1.0 […]

Senator asks peers to review contradictions in gov’t enforcement of Corporate Recovery law

A RESOLUTION that seeks to review the government’s enforcement of a law that extends fiscal relief to local and foreign corporations in the Philippines has been filed at the Senate. Senator Ana Theresia N. Hontiveros-Baraquel in Senate Resolution 219 called on her peers to convene as an oversight committee to review the rules that enforce […]

DOLE backs wider adoption of remote work schemes

THE Department of Labor and Employment (Dole) on Sunday, Sept. 18, 2022, called on employers and workers to mutually adopt telecommuting programs to help sustain the country’s economic recovery, as it has expanded the work-from-home scheme.Labor Secretary Bienvenido Laguesma signed Department Order 237, which contains the revised implementing rules and regulations (IRR) of the telecommuting […]

NEDA proposes changes to arbitration and MAGA clauses in revised rules for BOT Law

THE NATIONAL Economic and Development Authority (NEDA) proposed new revisions to the implementing rules and regulations (IRR) of the Build-Operate-Transfer (BOT) Law, which reflect the government’s willingness to share the risk in public-private partnership (PPP) projects. The draft rules, which were uploaded on the NEDA website, showed changes to the provisions on arbitration and material […]

GCL-Poly has Fulfilled all Resumption Guidance and will Resume Trading

HONG KONG, Oct 31, 2021 – (ACN Newswire via – Having fulfilled the five conditions set out in the Resumption Guidance on 29 October 2021, GCL-Poly Energy Holdings Limited (Stock Code: 3800.HK) (“GCL-Poly” or the “Company”; together with its subsidiaries, the “Group”) has made an application to The Stock Exchange of Hong Kong Limited […]

Duterte tightens quarantine over NCR because of Delta variant

President Rodrigo R. Duterte on Friday approved the recommendation of his pandemic task force to enforce stricter quarantine rules in Manila, the capital, and nearby cities amid the threat of the more contagious coronavirus variant that is ravaging Southeast Asian countries, according to the presidential palace.   The National Capital Region (NCR) would be placed under a general […]

PSG to enforce strict health rules during Duterte’s last SONA

The President’s security force said on Friday that it is all set to handle the last State the Nation Address (SONA) of President Rodrigo R. Duterte, saying stricter rules would be enforced during the annual activity.  The Presidential Security Guard (PSG) said that it had created a task force as early as May “for early planning and preparation with regard to security” for the annual presidential address.   “With less than a week […]

PEZA flags ‘more restrictive’ import tax rules under CREATE

THE Philippine Economic Zone Authority (PEZA) raised possible problems its locators might encounter with new import tax rules after the implementation of a new law that cuts corporate income taxes and rationalizes incentives. The investment promotion agency foresees “certain issues” once the law is implemented, noting that it expects rules on the duty-free import of […]

NPC touts advantages of privacy certification

THE National Privacy Commission (NPC) said it will be rolling out a voluntary certification scheme to monitor companies’ compliance with international privacy standards. Privacy Commissioner Raymund E. Liboro said that companies’ data privacy representatives should invest in earning certifications and seals of approval from the commission. The NPC in a statement Monday said it will […]