The May 2015 issue of the International Financial Law Review (IFLR) included an international briefing article by SyCipLaw partner Maria Jennifer Z. Barreto on “Electronic tax return controls.” The Philippine Bureau of Internal Revenue (BIR) recently required the mandatory use of electronic tax return forms by the non-electronic Filing and Payment System (non-eFPS) ...
In commemoration of the firm’s 70th anniversary, SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) produced a publication about the general guidelines in doing business in the Philippines. It aims to showcase the Philippines as an attractive venue for business ventures and to also guide the businessmen and lawyers alike in their business decision making ...
The Philippines recently enacted Republic Act 10667 or the Philippine Competition Act which defines, prohibits and penalizes anti-competitive agreements, abuse of dominant position, and anti-competitive mergers and acquisitions. It also creates the Philippine Competition Commission, which has original and primary jurisdiction to deal with cases involving violations of the Act. The Act was published on July 24, 2015 and took effect on August 8, 2015 ...
Introduction The Competition Commission of India (‘CCI’), has recently issued the Competition Commission of India (Competition Assessment of Legislations and Bills) Guidelines, 2015 (‘Guidelines’)[1]. The Guidelines will come into effect on 1 January 2016. This article intends to provide a brief overview of the Guidelines, as proposed by the CCI ...
Vol. XIII, Issues 2 & 3 of the Employment & Immigration Update includes the following articles:Ease of Doing BusinessOutplacementTwo-Tiered Wage SystemHighly engaged employeesSocial Safety NetsMore UK firms eye investments in PHThe issue also contains information on recent Supreme Court decisions, labor and employment news, immigration news, additional legal resources, and SyCipLaw updates.Download the Employment & Immigration Update 2015 2-3Q ...
The Technology, Media & Telecoms Legal Bulletin (Aug ...
Global mobility is on the rise and many of the employees all over the world especially the young university graduates are keen to working overseas than ever before to strengthen personal growth and career development.The third edition of Global Mobility – An Overview of Human Resource Professionals aims to provide initial guidance to Human Resource professionals and be a ready tool to help them meet the work deliverables of this function which is vital to the organizational success ...
In Esso Australia Pty Ltd v The Australian Workers' Union [2015] FCA 758, the Federal Court upheld the validity of some, but not all, orders made by the Fair Work Commission (FWC) against industrial action at Esso's Longford Plant in Victoria ...
What has happened?On 16 September 2015, the Federal Government introduced the Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015. The Bill contains two significant proposals, both of which were signalled in the 2015-16 Federal Budget in May 2015 (see 2015-16 Federal Budget - key tax announcements for business) ...
The Philippine section of Getting the Deal Through: Aviation Finance & Leasing 2015 was contributed by SyCipLaw senior associate Bhong Paulo A. Macasaet with associates Aldous Benjamin C. Camiso, Diana S. Gervacio, and Maricar G. Ramos ...
The Philippine section of The International Comparative Legal Guide to: Patents 2016 was contributed by SyCipLaw partners Enrique T. Manuel and Vida M. Panganiban-Alindogan. The chapter includes patent enforcement, patent amendment, licensing, patent term extension, patent prosecution and opposition, border control measures, antitrust law and inequitable conduct and current developments in relation to patents ...
On 15 July 2015, the Indonesian Capital Investment Coordinating Board (Badan Koordinasi Penanaman Modal or “BKPM”) issued a circular letter on the new mechanism and procedures for obtaining Principle License applications, aimed particularly at businesses in the consultancy services sector, as an effort to boost investors’ commitment and investment realization (formally, Circular Letter No ...
Under Article 18 (1) of Law No. 7 of 1983 on Income Tax (as lastly amended by Law No. 36 of 2008 – “Income Tax Law”), the Minister of Finance (“MOF”) is authorized to determine the debt to equity ratio (“DER”) of corporate taxpayers for the income tax calculation purposes. To implement this, on 9 September 2015, the MOF issued MOF Regulation No. 169/PMK/010/2015 on the Determination of a Company’s Debt to Equity Ratio for Income Tax Calculation Purposes (“MOF Regulation 169/2015”) ...
Under Minister of Energy and Mineral Resources Regulation No. 23 of 2015 dated 31 July 2015 on the Delegation of Authority to Issue Oil and Gas Business License in the Framework of One-Stop Integrated Services to the Head of BKPM (“Regulation 23/2015”), the Minister of Energy and Mineral Resources has delegated its authority to issue oil and gas business licenses for capital investment to the Head of BKPM ...
As an update to our previous Newsletter regarding Regulation No. 17/3/PBI/2015 regarding the Obligation to Use Rupiah in the Territory of the Republic of Indonesia (“BI Regulation”), Bank Indonesia (“BI”) has issued an implementing regulation regarding the mandatory use of Rupiah under BI Circular Letter No. 17/11/DKSP (“Circular 17”) ...
In an attempt to assist the stabilization of the Indonesian currency, Bank Indonesia (BI) changed the limit of the maximum value of foreign currency (US$) purchased through a spot transaction which is done without a specific purpose (underlying documents), from US$100,000 per month for each customer/foreign party to US$25,000 or equivalent per month for each customer. This new limit is set out under Bank Indonesia Regulation No ...
Under Minister of Transportation of the Republic of Indonesia Regulation No. PM 3 of 2015 dated 7 January 2015 on the Implementation of One-Stop Integrated Services in the field of Transportation at the Indonesia Investment Coordinating Board (BKPM) (“Regulation 3/2015”), the Minister of Transportation has now delegated its authority to issue transportation business licenses for capital investment to the Head of BKPM. The Business Licenses which have been delegated are: 1 ...
The Government of Indonesia has recently issued a series of regulations in an attempt to further regulate pension securities and amend the old age security programs in Indonesia, namely Government Regulation No. 45 of 2015 on the Management of the Pension Security Program (“GR 45/2015”) and Government Regulation No. 46 of 2015 as amended by Government Regulation No. 60 of 2015 on the Management of the Old Age Security Program (“GR 46/2015”) ...
International Financial Law Review (IFLR) in association with Euromoney Yearbooks recently published the Global Banking & Financial Policy Review 2015/2016. The Philippine section was contributed by SyCipLaw Managing Partner Rafael A. Morales. The section is an Overview of Legal and Regulatory Developments in the Philippines such as the Liberalization of Financial Sector, Islamic Banking and Finance, Financial Consumer Protection, and Prospects ...
SyCipLaw Partner Leslie C. Dy participated in the World Bank Group’s Women, Business and the Law 2016: Getting to Equal. The 2016 edition, the fourth in the series, continues to cover and collect data about legal restrictions on women’s entrepreneurship and employment. The series aims to inform policy discussions and promote research on linkages between the law and women’s economic opportunities ...
The Philippine chapter of Getting the Deal Through: Islamic Finance & Markets 2016 was contributed by SyCipLaw Managing Partner Rafael A. Morales with Amer Hussein N. Mambuay. The chapter includes information on policies, legislation and supervision covering Islamic finance in the Philippines, contracting concepts, products, and updates and trends ...
The Philippines section of The Mergers & Acquisitions Review 9th Edition contains an overview of M&A activity in the country, general introduction to the legal framework for M&A, developments in corporate and takeover law and their impact, foreign involvement in M&A transactions, significant transactions, key trends and hot industries, financing of M&A, main sources and developments, employment law, tax law, competition law, and outlook ...
The Philippine section of The International Comparative Legal Guide to: Copyright 2016 was contributed by SyCipLaw partners Enrique T. Manuel and Vida M. Panganiban-Alindogan. Mr. Manuel heads the firm’s Intellectual Property department. The chapter includes information on copyright subsistence, ownership, exploitation, owners’ rights, copyright enforcement, criminal offenses, and current developments. 1 ...
The September 2015 issue of the International Financial Law Review (IFLR) included an international briefing article by SyCipLaw partner Arlene M. Maneja entitled “Competition law enacted.”Download a PDF copy of the article or read the article online at the IFLR website ...
LCS has provided a 2015 Taiwan Employment Law Update. 1. Five-Day Workweek to Kick Off Next Year An amendment to the Labor Standards Act (the "LSA") will take effect on January 1, 2016, paving the way for a five-day workweek and for working hours per week to be reduced to 40 hours. The LSA currently sets a ceiling of regular working hours of 84 hours fortnightly. 2 ...
