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Atty. Trisha Andrea G. Cruz, Partner of Carpo Law & Associates, delivered a talk on Property Acquisition by Foreign Nationals in the Philippines in the Business Breakfast held last June 21 at Marajo Tower in BGC, Taguig. The event was hosted by the British Chamber of Commerce Philippines, in partnership with Kittelson & Carpo Consulting.
Kittelson & Carpo Consulting and Carpo Law & Associates, in partnership with the British Chamber of Commerce Philippines, brings you “Doing Business in the Philippines”. This covers discussions on how new updates and issuances from the SEC, PhilHealth, and BIR will affect current business operations, as well as projections on how the newly implemented TRAIN Law will channel favorable changes in the current Philippine business climate.
R.A. 10963, more popularly known as the Tax Reform for Acceleration and Inclusion or TRAIN Law, is the first package implemented from the Comprehensive Tax Reform Program (CTRP) of the Duterte Administration
Philippine taxes cover national and local taxes. National taxes are imposed and collected by the national government through the Bureau of Internal Revenue (BIR) while local taxes are collected by local government units.
Back in December 2016, the Department of Labor and Employment (DOLE) expressed their desire to abolish the practice of contracting and sub-contracting, better known as “Endo.” The “Endo” practice has been strongly opposed by President Rodrigo Duterte, whose 2016 campaign promise to prohibit “Endo” remains to be seen.
The Department of Labor and Employment’s (DOLE) DO 174 was a massive disappointment for workers who were seeking an end to contractualization, or what’s commonly known as “Endo.” While “Endo” practice, which has been around for decades, is not written into the outdated Labor Code, it’s a widely accepted practice that places workers in situations where their rights and benefits aren’t protected by the law.
Tax Reform is high on the Duterte Administration’s agenda. In a near unanimous majority, and after the consolidation of 55 separate bills, House Bill 5636, or the Tax Reform for Acceleration and Inclusion or “TRAIN” was approved by Congress on May 15. House Bill 5636 is not the law, yet.