One of the innovations introduced in Republic Act No. 11232, otherwise known as the “Revised Corporation Code of the Philippines” (RCC) is the One Person Corporation (OPC). OPCs offer many advantages for small and medium enterprises (SMEs) in terms of limitations on liability and taxation benefits, among others The benefit of limiting the business owner’s…

Reduction of Corporate Income Taxes Republic Act No. 11534, otherwise known as the “Corporate Recovery and Tax Incentives for Enterprises” (CREATE) Act is the second package of the Comprehensive Tax Reform Program that reduces corporate Income tax rates. The CREATE Act also provides other tax relief measures that will help businesses, particularly those organized as…

February 20, 2019 REPUBLIC ACT NO. 11232 AN ACT PROVIDING FOR THE REVISED CORPORATION CODE OF THE PHILIPPINES TITLE I General Provisions Definitions and Classifications SECTION 1. Title of the Code. — This Code shall be known as the “Revised Corporation Code of the Philippines.” SECTION 2. Corporation Defined. — A corporation is an artificial being created by operation of law,…

February 20, 2019 REPUBLIC ACT NO. 11210 AN ACT INCREASING THE MATERNITY LEAVE PERIOD TO ONE HUNDRED FIVE (105) DAYS FOR FEMALE WORKERS WITH AN OPTION TO EXTEND FOR AN ADDITIONAL THIRTY (30) DAYS WITHOUT PAY, AND GRANTING AN ADDITIONAL FIFTEEN (15) DAYS FOR SOLO MOTHERS, AND FOR OTHER PURPOSES SECTION 1. Short Title. — This Act…

February 14, 2019 REPUBLIC ACT NO. 11213 AN ACT ENHANCING REVENUE ADMINISTRATION AND COLLECTION BY GRANTING AN AMNESTY ON ALL UNPAID INTERNAL REVENUE TAXES IMPOSED BY THE NATIONAL GOVERNMENT FOR TAXABLE YEAR 2017 AND PRIOR YEARS WITH RESPECT TO ESTATE TAX, OTHER INTERNAL REVENUE TAXES, AND TAX ON DELINQUENCIES TITLE I Preliminary Provisions SECTION 1. Short Title….

February 7, 2019 REPUBLIC ACT NO. 11199 AN ACT RATIONALIZING AND EXPANDING THE POWERS AND DUTIES OF THE SOCIAL SECURITY COMMISSION TO ENSURE THE LONG-TERM VIABILITY OF THE SOCIAL SECURITY SYSTEM, REPEALING FOR THE PURPOSE REPUBLIC ACT NO. 1161, AS AMENDED BY REPUBLIC ACT NO. 8282, OTHERWISE KNOWN AS THE “SOCIAL SECURITY ACT OF 1997” SECTION 1. Short Title….

December 20, 2018 REPUBLIC ACT NO. 11165 AN ACT INSTITUTIONALIZING TELECOMMUTING AS AN ALTERNATIVE WORK ARRANGEMENT FOR EMPLOYEES IN THE PRIVATE SECTOR SECTION 1. Short Title. — This Act shall be known as the “Telecommuting Act.” SECTION 2. Declaration of Policy. — It is hereby declared the policy of the State to affirm labor as a primary social…

The SEC published new rules of procedure. It will become effective on 7 December 2016.