Global Crisis
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The SyCipLaw T.I.P.S. International Edition covers the following tax issues: 1. What are the salient provisions on income tax under the Corporate Recovery and Tax Incentives for Enterprises Act, or CREATE Act? On March 26, 2021, President Rodrigo R. Duterte signed the “Corporate Recovery and Tax Incentives for Enterprises Act” (Republic Act No. 11534, the CREATE Act) into law. It will take effect within 15 days from its publication in the Official Gazette or in a newspaper of general circulation. The CREATE Act further amends certain provisions of the National Internal Revenue Code, as amended (the Tax Code)...

This is a briefing on the issuances as of August 3, 2020 on the following matters in relation to the COVID-19 pandemic: A. Metro Manila will be under Modified Enhanced Community Quarantine (MECQ) again from August 4 to 18B. Intellectual Property Office (IPOPHL) Further Extends until August 10, 2020 the Deadline for Filings and Payments Due for the Period of July 20 to August 7, 2020A...

This is a briefing on the issuances as of August 1, 2020 on the following matters in relation to the COVID-19 pandemic: A. General Community Quarantine (GCQ) over Metro Manila Again Extended until August 15, 2020 B. Department of Trade and Industry (DTI) Allows More Business Establishments to Operate During GCQ from August 1, 2020   A. General Community Quarantine (GCQ) over Metro Manila Again Extended until August 15, 2020 The period of General Community Quarantine (GCQ) in Metro Manila, which was already extended to July 31, 2020, 1 has again been extended until August 15, 2020. 2 The President announced on July 31 the extension of the GCQ period...

This is a briefing on the CIAC Memorandum Circular No. 01-2020 dated June 10, 2020,1 a COVID-19 related issuance. A. Authority to Hold Virtual Proceedings B. No Change in the Deadline for the Issuance of Final Awards C. In-Person Proceedings D. Conduct of Virtual Proceedings ______________________________________________________________________________________________________________ CIAC’s Memorandum Circular No. 01-2020 (“CIAC Virtual Proceedings Guidelines”) provides guidelines on the conduct of online or virtual proceedings...

This is a briefing on the issuances as of July 29, 2020 on the following matters in relation to the COVID-19 pandemic: A. Intellectual Property Office (IPOPHL) Further Extends until August 4 the Deadline for Filings and Payments Due for the Period of July 20-30, 2020 B. Securities and Exchange Commission (SEC) Discourages Physical Filing of Mandatory Disclosure Form (MDF) which is Due on July 31, 2020 C. Monetary Board (MB) Approves Amendments to the Operational Relief Measures for Banko Sentral ng Pilipinas (BSP)-Supervised Financial Institutions (BSFIs)   A...