The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.
Business Law and Labor Law Updates
WHAT ARE SECURITIES?
Securities are shares, participation or interest in a corporation
Securities are evidenced by a certificate, contract, instruments, whether written or electronic in character
Securities, when not registered, are not to be offered for sale
ESTABLISHMENTS GRANTING DISCOUNTS TO NATIONAL ATHLETES AND COACHES MAY DEDUCT THE DISCOUNT FROM THE GROSS INCOME
Any national athlete and coach shall be entitled to the benefits listed under Republic Act No. 10699 or National Athletes and Coaches Benefits and Incentives Act”.
Establishments granting sales discounts to National Athletes and Coaches on their sale of goods and/or services shall be entitled to deduct the said sales discount from their gross income.
If the name of National Athletes and Coaches, and their corresponding Philippine National Sports Team Identification Card and Booklet (PNSTM ID and Booklet) is not reflected in the records of sales, the sales discount claimed as deduction by business establishments shall be disallowed
INCENTIVES FOR TOURISM ENTERPRISE ZONE OPERATORS AND REGISTERED TOURISM ENTERPRISES
The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) may grant incentives to registered tourism enterprises
TEZs are being administered and supervised by TEZ operators
In general, there are two kinds of incentives available to TEZ operators and registered tourism enterprises
PROHIBITED MODES OF RETAILING
Republic Act No. 8762 or Retail Trade Liberalization Act of 2000 foreign investors to engage in retailing in the Philippines.
Foreign-owned partnerships, associations and corporations formed and organized under the laws of the Philippines may, may engage or invest in the retail trade business upon registration with the Securities and Exchange Commission (SEC), or in case of foreign-owned single proprietorships, with the Department of Trade and Industry (DTI).
Qualified foreign retailers shall not be allowed to engage in certain retailing activities outside their accredited stores through the use of mobile or rolling stores or carts, the use of sales representatives, door-to-door selling, restaurants and sari-sari stores and such other similar retailing activities.