In the case of Leo Abad, Romeo Abella et. al vs. San Roque Metals Inc., G.R. No. 255368, May 29, 2024, the Supreme Court held that compromise agreements and settlements between employers and employees that offer employees excessively low amounts are invalid.
An investment contract is a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others. An investment contract is presumed to exist whenever a person seeks to use the money or property of others on the promise of profits. (2015 Implementing Rules and Regulations of the Securities Regulation Code)
Overseas Filipino Workers (OFWs), also known as “Migrant Workers”, refer to those who are engaged or have been engaged in a compensated activity in a state where they are not legal residents. Under the Social Security Act of 2018, all sea-based and land-based OFWs – who are not over sixty (60) years old – must make “compulsory” or mandated or required contributions to the SSS.
Republic Act No. 11293 or Philippine Innovation Act was enacted in line with the State’s policy to foster innovation as a vital component of national development and sustainable economic growth. It was principally authored and co-sponsored by Senate President Pro Tempore Loren Legarda, who aims to create an efficient national innovation system that shall be implemented in all areas of governance in the country. Fostering innovation in the country may be one of the key ingredients to faster economic growth and to encourage global competitiveness among Filipinos.
According to the Bangko Sentral ng Pilipinas, cryptocurrency is a type of Virtual Currency that uses cryptography – a method of storing and transmitting data in unreadable form so that only the intended receivers can read and process it. This method allows cryptocurrency transactions to be carried out in a decentralized manner by a group of users.
Among the most popular cryptocurrencies in the Philippines are Bitcoin, XRP, Litecon, among others.
When it comes to starting an export business as an MSME, the initial step generally starts at registering with the Client Profile Registration System (CPRS) of the Bureau of Customs. Successfully registered exporters are then required to fill out their Export Declarations through the E2M customs system. MSMEs which want or need assistance in processing their registration as exporters may seek aid from Negosyo Centers.
(Customs Memorandum Order Nos. 39-2008, 49-2010, 54-2010, and 7-2012; Sec. 4, Republic Act No. 10644)
Under the Customs Modernization and Tariff Act (CMTA) and Customs Administrative Order (CAO) 02-16, imported goods with “De Minimis value” are considered imports of “negligible amount”, and are thus duty and tax-free, and also entitled to immediate release from customs.
Upon the effectivity of the said laws, the De Minimis value of imports went from ₱10 to ₱10,000. The increased threshold means that importers of goods amounting to less than ₱10,000 need not worry about paying for additional costs on duties and taxes.
In the case of People of the Philippines vs. Antonio M. Talaue, G.R. No. 248652, June 19, 2024, the Supreme Court held that a mayor does not have the positive duty to remit the GSIS premium contributions of all employees within his political subdivision.
The Local Government Code of 1991 refers to municipal mayors as “chief executives” and not “heads of offices” as contemplated under Section 52(g) of RA No. 8291. Moreover, nowhere in the Local Government Code of 1991 does it include the remittance of GSIS premiums as part of the duties of a mayor.
On November 22, 2024, the Supreme Court En Banc has approved The Rules on Unified Legal Aid Service (ULAS Rules) which mandates covered lawyers to render at least 60 hours of pro bono legal aid every three years in favor of indigent Filipinos.
In the Philippines, parties are allowed to offer electronic documents as evidence in civil, criminal, administrative, and quasi-judicial cases. When parties offer such forms of evidence, the Rules on Electronic Evidence apply. Notably, before an electronic document can be admissible in evidence, it must first be authenticated in the manner prescribed by Rule 5 of the Rules on Electronic Evidence.
