Legal Updates

The Digital Turn: How the E-Governance Act Transforms PH Government

Announcements, Legal Updates, Technology / By Admin GVES

On September 5, 2025, President Marcos Jr. signed Republic Act No. 12254, also known as the E-Governance Act, formalizing the Philippine government’s shift to digital governance. In order to improve the overall delivery of public services through information and communications technology (ICT), decrease bureaucratic delays, foster transparency, and safeguard data privacy, the measure aims to …

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SC Upholds Arbitration Framework: CIAC Jurisdiction Limited to True Construction Disputes

Corporate, Legal Updates / By Admin GVES

In 2025, the Philippine Supreme Court reaffirmed the importance of respecting arbitration agreements while also clarifying the limits of CIAC’s jurisdiction. While the CIAC’s authority is statutory under Executive Order No. 1008, the Court emphasized that it remains confined to disputes arising from construction contracts, broadly construed but not beyond their intended scope. In Fleet Marine …

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Anti-Financial Account Scamming Act in Action: BSP Circular No. 1214 Puts Scammers on Notice and Banks on the Clock

Finance, Legal Updates / By Admin GVES

On 20 July 2024, the Anti-Financial Account Scamming Act (“AFASA”) was passed to promote awareness and to protect the public from cybercriminals and criminal syndicates who target Financial Accounts or lure Account Owners into becoming accessories or perpetrators of fraudulent activities. Some of the key provisions of the AFASA are Sections 12, 13, and 14 …

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By The Book: Supreme Court Rules That Mere Inclusion In The Corporate GIS Does Not Make One A Stockholder

Compliance, Corporate, Legal Updates / By Admin GVES

Corporations have been a staple in growing economies owing to various reasons including limited liability and greater access to capital as compared to other business vehicles. With such a significant role in business and the economy, corporations are vested with the need to maintain accurate and organized internal records. In the Philippines, every corporation is …

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BUSINESS ALERT: SEC MEMORANDUM CIRCULAR NO. 09 – STREAMLINING THE 45-DAY REVIEW PROCESS OF REGISTRATION STATEMENT APPLICATIONS UNDER THE MSRD

Uncategorized, Compliance, Corporate, Legal Updates / By Admin GVES

On 24 July 2025, to further boost its commitment to ease of doing business in the country, the Securities and Exchange Commission issued a SEC Memorandum Circular No. 09 series of 2025. The SEC MC No. 09 provides guidelines to further streamlining the 45-day registration statement review process under the Markets and Securities Regulation Department …

BUSINESS ALERT: SEC MEMORANDUM CIRCULAR NO. 09 – STREAMLINING THE 45-DAY REVIEW PROCESS OF REGISTRATION STATEMENT APPLICATIONS UNDER THE MSRD Read More »

Understanding the Capital Markets Efficiency Promotion Act (CMEPA): An Overview of Investment Tax Reforms and Vetoed Items

TAXATION, Compliance, Corporate, Finance, Legal Updates / By Admin GVES

CMEPA at a Glance Area Before CMEPA After CMEPA Stock Transaction Tax (STT) 0.6% on sale of listed shares 0.1% flat rate on sale of listed shares Capital Gains Tax 15% on unlisted domestic shares only; foreign shares taxed up to 35% 15% flat rate on both unlisted domestic and foreign shares Interest Income Subject …

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No Sale Yet: SC Draws the Line in Chavez Jr. v. Gopez Real Estate Dispute

Uncategorized, Legal Updates, Real Estate Law / By Admin GVES

This case serves as a valuable lesson in property law and contracts, particularly in distinguishing a Contract of Sale from a Contract to Sell—a crucial distinction in real estate transactions. The Supreme Court clarified how courts must determine the nature of a property agreement not by labels used by the parties, but by analyzing the intent, obligations, and documentary …

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Supreme Court Clarifies Standards of Proof in Salary Payment via Auto-Credit: A Cautionary Tale for Employers

Uncategorized, Corporate, Labor Law, Legal Updates / By Admin GVES

In a significant ruling that refines the evidentiary standards in automated payroll systems, the Philippine Supreme Court addressed when salaries are deemed paid under bank auto-credit arrangements. While the Court did not create new law, it applied existing doctrines to a modern payroll context and emphasized the necessity of concrete, corroborative proof when salary payments …

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SUPREME COURT CLARIFIES: “FREELANCERS” MAY BE CONSIDERED AS REGULAR EMPLOYEES

Uncategorized, Announcements, Compliance, Corporate, Legal Updates / By Admin GVES

In a landmark ruling with significant implications for labor classification, the Supreme Court held in Escauriaga v. Fitness First Philippines, Inc. (2024) that workers classified by their employer as “freelance personal trainers” were, in truth, regular employees under the Labor Code. The Court emphasized that the substance of the work relationship—not the contractual label—determines employee status. The petitioners—fitness trainers …

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

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

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 …

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