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Productivity Standards under the Labor Code

Failure to observe prescribed standards of work, or to fulfill reasonable work assignments due to inefficiency may constitute just cause for dismissal. Such inefficiency is understood to mean failure to attain work goals or work quotas, either by failing to complete the same within the allotted reasonable period or by producing unsatisfactory results. (Iluminada Ver Buiser vs. Hon. Vicente Leogardo, G.R. No. L-63316, July 31, 1984)

Prescriptive Period for Consumer Complaints

Any complaint of a consumer for violation of the Consumer Act, shall be filed within two (2) years from the time the consumer transaction was consummated, or the deceptive or unfair and unconscionable act or practice was committed, or in case of hidden defects, from the date of discovery thereof. After the said period, the filing thereof shall be barred.

Are cooperatives exempt from paying taxes? (Understanding tax exemptions for cooperatives in the Philippines)

Cooperatives transacting business with both members and non-members shall not be subjected to tax on their transactions with members. In relation to this, the transactions of members with the cooperative shall not be subject to any taxes and fees, including not limited to final taxes on members’ deposits and documentary tax. (Article 61, Republic Act No. 9520)

The Founding Anniversary of the Anti-Money Laundering Council (Republic Act No. 9160 of 2001)

SEC. 7. Creation of Anti-Money Laundering Council (AMLC). — The Anti-Money Laundering Council is hereby created and shall be composed of the Governor of the Bangko Sentral ng Pilipinas as chairman, the Commissioner of the Insurance Commission and the Chairman of the Securities and Exchange Commission as members. (Republic Act No. 9160)