Foreign Deposit Accounts: Are They Exempt From Estate Tax?
Republic Act No. 6426 is a special law created particularly for foreign currency deposits in the Philippines, with the goal of attracting deposits from foreign lenders and investors.
Category: Legal Articles
The Supreme Court decides: Illegally dismissed probationary employees, like regular employees, are entitled to backwages up to their actual reinstatement or up to the finality of the Decision
In the case of C.P. Reyes Hospital et al., vs. Barbosa, G.R. No. 228357, April 16, 2024, the Supreme Court held that illegally dismissed probationary employees, like regular employees, are entitled to backwages up to their actual reinstatement.
In case reinstatement is proven, to be infeasible due to strained relations between the employer and the employee and other analogous causes, backwages shall be computed from the time compensation was withheld up to the finality of the Decision.
What are the key provisions in Executive Order No. 169 for the protection of MSME franchisees?
Executive Order No. 169 was issued for purposes of strengthening the franchise industry for the protection of micro, small and medium enterprises (MSME). It prescribed the minimum terms and conditions of franchise agreements as well as the guidelines for its registration.
Who May be liable for Cyberlibel?
Libel, as defined by the Revised Penal Code, is a public and malicious imputation of a crime, or of a vice or defect, real or imaginary, or any act, omission, condition, status, or circumstances tending to cause the dishonor, discredit, or contempt of a natural or juridical person, or to blacken the memory of one who is dead.
Insured Person vs. Beneficiary in an Insurance Policy: What’s the Difference?
A contract of insurance is an agreement whereby one undertakes for a consideration to indemnify another against loss, damage, or liability arising from an unknown or contingent event.
Comprehensive Motor Vehicle Insurance vs. Compulsory Third-Party Liability Insurance
Compulsory Third-Party Liability (CTPL) motor insurance is required for motor vehicle registration, while Comprehensive Motor Vehicle Insurance is optional. Motor vehicle owners may choose to purchase the comprehensive insurance for extra protection, but unlike CTPL, it is not a requirement set by the Land Transportation Office (LTO) for vehicle registration.
Key Takeaways from the New Government Procurement Act (Part V)
The Invitation to Bid provides information that enables potential bidders to decide whether to participate in the procurement at hand. It should be incorporated in the Bidding Documents. The information contained in the Invitation to Bid must conform to the Bidding Documents and in particular to the relevant information in the Bid Data Sheet (BDS).
The Supreme Court decides: A champertous contract is void for being contrary to public policy.
A champertous contract is contract between a stranger and a party to a lawsuit, whereby the stranger pursues the party’s claim in consideration of receiving part or any of the proceeds recovered under the judgment. It is a void contract for being contrary to public policy.
Policies and Guidelines for Proper Availment of Incentives for Free Legal Assistance (BIR Revenue Regulation No. 12-2022)
On September 12, 2022, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 12-2022 to prescribe more definitive guidelines, procedures and requirements for the proper availment of the incentives granted to lawyers or professional partnerships that render actual free legal services under RA No. 9999 or otherwise known as the “Free Legal Assistance Act of 2010”.
eCorrespondence for Patents, Utility Models, and Industrial Designs (IPOPHIL Memorandum Circular No. 2024-036)
The Bureau of Patents (BOP) commenced the full implementation of the electronic correspondence system for Patents, Utility Models and Industrial Designs on November 1, 2024 through IPOPHL Memorandum Circular No. 2024-036.