Legal Updates

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

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 »

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

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

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

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 … SUPREME COURT CLARIFIES: “FREELANCERS” MAY BE CONSIDERED AS REGULAR EMPLOYEES  Read More »