Corporate

Philippines Taxes Offshore Services: What your Business Needs to Know!

TAXATION, Announcements, blog, Compliance, Corporate, Finance, Legal Updates / By

On 10 January 2024, the Bureau of Internal Revenue (“BIR”) issued Revenue Memorandum Circular (“RMC”) No. 5-2024 which clarifies the tax treatment of cross-border services based on the case of Aces Philippines Cellular Satellite Corp. v. Commissioner of Internal Revenue, G.R. No. 22668, 30 August 2022. Aces Philippines Cellular Satellite Corporation (“Aces Philippines”) and Aces International …

Philippines Taxes Offshore Services: What your Business Needs to Know! Read More »

SEC Rolls Out ZERO: A Fully Digital, Paperless Registration System

Uncategorized, Compliance, Corporate, Legal Updates / By

The SEC is taking additional steps toward going paperless. Under new SEC Memorandum Circular No. 3, 2005, all domestic stock corporations—excluding lending and financing companies—are now mandated to register through the SEC’s new fully online, paperless company registration systems. ZERO stands for Zuper Easy Registration Online, a digital platform that lets users register their companies …

SEC Rolls Out ZERO: A Fully Digital, Paperless Registration System Read More »

Supreme Court Affirms: Foreign Currency Deposits Exempt from Estate Tax

Legal Updates, Compliance, Corporate, TAX EXEMPTION, TAXATION / By

Tax exemptions, being in derogation of the State’s inherent power to tax, are strictly construed against the taxpayer. Thus, when one is upheld, it is not merely a legal triumph — it is a cause for celebration. In G.R. No. 262092 (October 9, 2024), the Supreme Court ruled that a foreign currency deposit — specifically an HSBC …

Supreme Court Affirms: Foreign Currency Deposits Exempt from Estate Tax Read More »

Philippines- An Overview of VAT on Digital Services

Legal Updates, Compliance, Corporate, Technology, Uncategorized / By

Revenue Regulations No. 3-2025 (RR No. 3-2025), issued by the Bureau of Internal Revenue (BIR) on January 16, 2025, provides the implementing rules and guidelines for Republic Act No. 12023, also known as the “VAT on Digital Services Act.”  This regulation operationalizes the imposition of a 12% Value-Added Tax (VAT) on digital services in the …

Philippines- An Overview of VAT on Digital Services Read More »

RA NO. 11647: A SEQUEL TO THE PHILIPPINES’ MOVE TO FURTHER EASE THE WAY FOR FOREIGN INVESTORS

Compliance, Corporate, Finance / By

31 March 2022 It seems the Philippine legislative and executive branches are on a roll in their mission to further attract foreign investments into the country to accelerate recovery of the economy which was drastically affected by the COVID19 pandemic. After the approval in December 2021 of Republic Act No. (“RA”) 11595 which simplified the …

RA NO. 11647: A SEQUEL TO THE PHILIPPINES’ MOVE TO FURTHER EASE THE WAY FOR FOREIGN INVESTORS Read More »

RA 11595: FURTHER EASING THE WAY FOR FOREIGN RETAIL ENTERPRISES IN THE PHILIPPINES

Corporate / By

01 February 2022 Republic Act No. 11595 (“RA 11595”), entitled “An Act Amending Republic Act No. 8762, otherwise known as the Retail Trade Liberalization Act of 2000 (RTLA), by lowering the paid-up capital requirement for foreign retail enterprises and other purposes” was signed into law by Philippine President Rodrigo Duterte on 10 December 2021. It …

RA 11595: FURTHER EASING THE WAY FOR FOREIGN RETAIL ENTERPRISES IN THE PHILIPPINES Read More »

QUICK LINKS

OFFICE ADDRESS

Unit 1205 Tower 2, High Street South Corporate Plaza 26th, Street corner 11th Avenue, Bonifacio Global City 1634 Taguig City, Philippines

CONTACT DETAILS

(+632) 8805 2768
info@gveslaw.com