One of the innovations introduced by 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…
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,…