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SyCipLaw’s Tax Department has listed down its Top 10 Tax Issues and Practical Solutions (T.I.P.S.) for 2023. Please read the full text hereor via this link. The SyCipLaw's Top 10 Tax Issues and Practical Solutions (T.I.P.S ...

SyCipLaw has authored the Philippine chapter of Lexology In-Depth: Artificial Intelligence Law. The Lexology guide seeks to provide a global overview of the fast-evolving state of law and practice surrounding artificial intelligence (AI) systems and applications. With a focus on recent developments and their practical implications, the guide examines key issues including legislative initiatives, government policy, AI risk management principles and standards, and enforcement actions ...

On 23 June 2023, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 71-2023 and Revenue Memorandum Order (RMO) No. 23-2023 to provide streamlined guidelines and the prescribed documentary requirements for the processing of value added tax (VAT) refund applications. The following significant amendments were introduced to the existing regulations outlined in this article ...

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) Partner Aaron Roi “Ace” Riturban and Special Counsel Catherina “Kate” Fernandez discuss the current regulatory framework as well as recent legal developments governing the mining industry in the Philippines. Tune in here:https://chambers-podcast.zencast.website/episodes/developments-in-the-mining-industry-in-the-philippines Continue reading here:https://chambers ...

SyCipLaw Senior Partner Leslie C. Dy and Senior Associate Mark Kevin U. Dellosa provide an update on labor laws and employment rights in the Philippines in a special report published by Conventus Law. Contractualization and Workers' Rights SyCipLaw:Contractualisation may relate to the engagement of job contractors to perform services for a principal or the engagement of workers under short-term contracts ...

SyCipLaw Partner Benedicto P. Panigbatan responds to questions in relation to property ownership and foreign investment in the Philippines ...

SyCipLaw's Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S.) for October. The October 2023 issue covers the following tax issues: 1. In cases of real property taxes ("RPT") on land covered by the Torrens system, can treasurers of local governments rely on the certificates of title to determine the owner of the land for purposes of sending notices of deficiency RPT? 2 ...

SyCipLaw's Tax Department has prepared an international edition of its Tax Issues and Practical Solutions (T.I.P.S.) for the third quarter of 2023. Please read the full texthereor via thislink. The SyCipLaw T.I.P.S - International Edition covers the following tax issues: 1 ...

The Philippine Securities and Exchange Commission ("SEC") issued SEC Memorandum Circular No. 20, series of 2023, titled Final Extension of Amnesty Applications until 31 December 2023 (the"Circular") to grant a final extension up to December 31, 2023 for amnesty applications for late and non-filing of general information sheets ("GIS"), annual financial statements ("AFS"), as well as non-compliance with SEC Memorandum Circular No ...

Background On October 2, 2023, the Philippine Stock Exchange ("PSE") issuedPSE Memorandum CN-2023-0048, which declared the PSE Short Selling Guidelines effective. On October 11, 2023, the PSE also issuedPSE Memorandum CN No. 2023-0053, setting out the Regulatory Requirements for Securities Borrowing and Lending. Further toPSE Memorandum CN-2023-0056, the PSE officially launched its Short Selling Program on November 6, 2023 ...

SyCipLaw Partners Ricardo P.G. Ongkiko (head of Litigation Department), John Christian Joy A. Regalado and Ma. Patricia B. Paz-Jacoba have written "International Commercial Arbitration in the Philippines," a chapter in the recently released Chambers International Arbitration 2023 Global Practice Guide (GPG) ...

The Philippine Securities and Exchange Commission ("SEC") issued SEC Memorandum Circular No. 17, series of 2023, titled Extension of Amnesty Applications until 06 November 2023 (SEC MC No. 17-2023 or the "Circular") to grant a final extension up to November 6, 2023 for amnesty applications for late and non-filing of general information sheets ("GIS"), annual financial statements ("AFS"), as well as non-compliance with SEC Memorandum Circular No ...

SyCipLaw's Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S.) for August. The August 2023 issue covers the following tax issues: 1. May the ruling in the 2011 case of Commissioner of Internal Revenue v ...

SyCipLaw's Tax Department has prepared the T.I.P.S. for July which covers the following tax issues: 1. May the Bureau of Internal Revenue validly serve an assessment notice through the central receiving station of an establishment where the taxpayer is a tenant without proof of authority of the person who allegedly received the mail as part of her functions? 2 ...

PCC Issues Motu Proprio Merger Review Guidelines for Digital Markets On 21 August 2023, the Philippine Competition Commission (“PCC”) issued the Guidelines for the motu proprio review of Mergers and Acquisitions in Digital Markets (the “Guidelines”) to provide greater transparency and predictability over the PCC’s power of motu proprio review of mergers and acquisitions (M&As) within the digital market ...

On June 9, 2023, the Monetary Board of the Bangko Sentral ng Pilipinas issued Circular No. 1174, amending the implementing regulations of the mandatory agricultural, fisheries and rural development financing contemplated by the Agriculture, Fisheries and Rural Development Financing Enhancement Act (Republic Act No. 11901 or the “Agri-Agra Reform Credit Act”). The implementing regulations were previously set out in BSP Circular No. 1159 dated November 4, 2022 ...

SyCipLaw's Tax Department has prepared an international edition of its Tax Issues and Practical Solutions (T.I.P.S.) for the second quarter of 2023. Please read the full texthereor via thislink. The SyCipLaw T.I.P.S - International Edition covers the following tax issues: 1. May a public utility treat corporate income taxes as operating expenses for purposes of computing rates chargeable to consumers? 2. For input value-added tax ("VAT") refund claims filed prior to RMC No ...

SyCipLaw’sTax Department has prepared Tax Issues and Practical Solutions(T.I.P.S.) for May. Please read the full text hereor via this link.SyCipLaw’s Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S ...

SEC Issues Regulations to Implement Financial Consumer Protection Act On 25 April 2023, the Securities and Exchange Commission ("SEC") issued Memorandum Circular No. 5, series of 2023 and adopted the SEC Rules and Regulations of the Financial Products and Services Consumer Protection Act of 2022 ("SEC FCPA IRR") to implement Republic Act No. 11765 (the Financial Products and Services Consumer Protection Act ("FCPA") ...

SyCipLaw's Banking, Finance & Securities Department's Banking Bulletin for May 2023 features the latest issuances from the Securities and Exchange Commission (SEC) and theBangko Sentral ng Pilipinas(BSP or Central Bank of the Philippines), which includes the adoption of the ASEAN Sustainable and Responsible (SRF) standards, and the clarifications made by BSP on what is considered excluded from the Real Estate Loan Limit and Stress Test ...

SyCipLaw's Banking, Finance & Securities Department's Banking Bulletin for April 2023 features the latest issuances from theBangko Sentral ng Pilipinas(BSP or Central Bank of the Philippines), which includes the amendment of the miscellaneous rules on deposits and the issuance of rules on mediation and adjudication of financial consumer complaints: BSP Amends Miscellaneous Rules On Deposits On December 14, 2022, the BSP issued Circular No ...

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) has just published the SyCipLaw TMT and Data Bulletin covering significant Philippine legal and regulatory developments in the technology, media, telecommunications and data space, from late 2022 to the first quarter of 2023. It also notes links to podcasts and materials relating to TMT and dataPLUSa commentary on whether AI can replace a local counsel ...

The Securities and Exchange Commission (SEC) has extended the deadline for applications for amnesty for late and non-filing of annual financial statements (AFS), general information sheets (GIS), as well as non-compliance with SEC Memorandum Circular No. 28, series of 2020 (Requirement for Corporations, Partnerships, Associations, and Individuals to Create and/or Designate E-mail Account Address and Cellphone Number for Transactions with the Commission) (MC28) ...

SyCipLaw has released the latest update of its market entry guide, SyCipLaw's Doing Business in the Philippines: A General Guide. The guide covers the setting up of a corporation or a branch office in the Philippines, post-SEC registration permits, how Philippine entities are taxed, tax incentives available, and merger notification rules ...

Pursuant to Department of Labor and Employment (“DOLE”) Labor Advisory No. 18, series of 2020, employers, including contractors or subcontractors in the private sector, shall shoulder the cost of COVID-19 prevention and control measures, such as, but not limited to, testing, disinfection facilities, hand sanitizers, personal protective equipment (i.e.,face masks), signages, and proper orientation and training of workers on COVID-19 prevention and control ...

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