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Archive for the ‘Laws and Implementing Rules’ Category

Republic Act No. 10021 – Exchange of Information on Tax Matters Act

Posted by lexforiphilippines on June 29, 2010

Signed into law on 5 March 2010, Republic Act No. 10021 or the Exchange of Information on Tax Matters Act allows the Bureau of Internal Revenue to exchange information on tax matters with foreign tax authorities to comply with the Philippines’ commitments under existing tax treaties and international conventions.  For this purpose, the new law amended Sections 6(F), 71 and 270 of Republic Act No. 8424, as amended, otherwise known as the National Internal Revenue Code of 1997, as amended.

For the salient features of Republic Act No. 10021, click on Laws under Tools.

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Posted in Laws and Implementing Rules, Taxation | 1 Comment »

Implementing Rules – Real Estate Investment Trust Act

Posted by lexforiphilippines on June 22, 2010

On 13 May 2010, the Securities and Exchange Commission approved the Implementing Rules and Regulations of Republic Act No. 9856, otherwise known as the Real Estate Investment Trust Act of 2009.

Click on the Tools tab for a copy of the Implementing Rules of the Real Estate Investment Trust Act of 2009.

Posted in Corporate Law, Laws and Implementing Rules, Taxation, Uncategorized | Tagged: , | Leave a Comment »

Republic Act No. 10029 – The Philippine Psychology Act

Posted by lexforiphilippines on June 15, 2010

Signed into law on 16 March 2010, Republic Act No. 10029, otherwise known as the Philippine Psychology Act of 2009, seeks to regulate the practice of psychology and psychometrics in the Philippines by creating the Professional Regulatory Board of Psychology and requiring psychologists and psychometricians to pass a Licensure Examination.

For the salient features of RA 10029, click on Laws under Tools.

Posted in Law School, Laws and Implementing Rules | 6 Comments »

Rules of Procedure for Environmental Cases

Posted by lexforiphilippines on June 7, 2010

On 13 April 2010, the Supreme Court issued the Rules of Procedure for Environmental Cases (A.M. No. 09-6-8-SC) to protect the people’s constitutional right to a balanced and healthful ecology.  The Rules, which took effect on 29 April 2010, will govern the procedure in civil, criminal and special civil actions involving enforcement or violations of environmental laws such as the Revised Forestry Code, the Water Code, the Philippine Mining Act, the Indigenous Peoples Rights Act, the Ecological Solid Waste Management Act, the Clean Air Act, and the Clean Water Act.

For the salient features of the rules, please see Tools under Laws and Implementing Rules

Posted in Energy and Environment, Law School, Laws and Implementing Rules, Notes, Remedial Law | Leave a Comment »

Statement of Management Responsibility in the ITR

Posted by lexforiphilippines on March 10, 2010

The Bureau of Internal Revenue issued Revenue Regulations No. 3-2010 requiring  taxpayers who will be submitting their annual tax returns to include a Statement of Management Responsibility as attachment. Aside from the usual general statement that the financial statements are prepared in accordance with the generally accepted accounting and auditing principles, the taxpayer shall also make a statement that ” all applicable tax returns, reports and statements required to be filed under Philippine tax laws for the reporting period, and all taxes and other impositions shown thereon to be due and payable have been paid for the reporting period, except those contested in good faith.”

For a copy of Revenue Regulations No. 3-2010, click on the Tools bar under Laws and Implementing Regulations.

Posted in Laws and Implementing Rules, Taxation | Tagged: , | Leave a Comment »

Republic Act No. 9999, “Free Legal Assistance Act of 2010”

Posted by lexforiphilippines on March 8, 2010

Lawyers or law partnerships wishing to render free legal aid are now entitled to claim tax benefits for doing pro bono work.

Last February 23, 2010, the President signed into law the Free Legal Assistance Act of 2010 giving a lawyer or professional partnerships rendering actual free legal services, an allowable deduction from the gross income, the amount that could have been collected for the actual free legal services rendered or up to ten percent (10%) of the gross income derived from the actual performance of the legal profession (service?), whichever is lower. However, the actual free legal services contemplated shall be exclusive of the minimum sixty (60)-hour mandatory legal aid services rendered to indigent litigants as required under the Rule on Mandatory Legal Aid Services for Practicing Lawyers, under BAR Matter No. 2012, issued by the Supreme Court.

The BIR is mandated to formulate within 90 days the necessary revenue regulation to implement the tax benefit envisioned under the Act.

Posted in Laws and Implementing Rules, Taxation | Tagged: , | 2 Comments »

Expanded Senior Citizen’s Act – RA 9994

Posted by lexforiphilippines on March 3, 2010

Last February 15, 2010, the President signed into law Republic Act No. 9994 or the Expanded Senior Citizen’s Act of 2010, amending further Republic Act No. 9257, otherwise known as the “Expanded Senior Citizens Act of 2003”. The new law grants additional benefits to senior citizens apart from the 20% discount already given by the old law.  For the salient features of the new law, see it under the Tools Tab, Laws and Implementing Regulations.

Posted in Laws and Implementing Rules, Taxation | Tagged: , | 1 Comment »

Republic Act No. 9995 – Anti-Photo and Video Voyeurism Act

Posted by lexforiphilippines on March 2, 2010

To all Hayden Kho wannabes and fans, Republic Act No. 9995, otherwise known as the “Anti-Photo and Video Voyeurism Act of 2009” was signed into law on 15 February 2010.

Under the new law, a person is prohibited:

(a) To take photo or video coverage of a person or group of persons performing sexual act or any similar activity or to capture an image of the private area of a person/s such as the naked or undergarment clad genitals, public area, buttocks or female breast without the consent of the person/s involved and under circumstances in which the person/s has/have a reasonable expectation of privacy;

(b) To copy or reproduce, or to cause to be copied or reproduced, such photo or video or recording of sexual act or any similar activity, with or without consideration, notwithstanding that consent to record or take photo or video coverage of the same was given by such person/s;

(c) To sell or distribute, or cause to be sold or distributed, such photo or video or recording of sexual act, whether it be the original copy or reproduction thereof, notwithstanding that consent to record or take photo or video coverage of the same was given by such person/s; or

(d) To publish or broadcast, or cause to be published or broadcast, whether in print or broadcast media, or show or exhibit the photo or video coverage or recordings of such sexual act or any similar activity through VCD/DVD, internet, cellular phones and other similar means or device, notwithstanding that consent to record or take photo or video coverage of the same was given by such person/s.

Those found guilty of committing any of said prohibited acts will be penalized with imprisonment of not less than 3 years but not more than seven 7 years and a fine of not less than P100,000.00 but not more than P500,000.00, or both, at the court’s discretion.

If the violator is a juridical person, its license or franchise will be automatically deemed revoked and the persons liable will be the officers, including the editor and reporter in the case of print media, and the station manager, editor and broadcaster in the case of a broadcast media.  If the offender is a public officer or employee, or a professional, he/she will be administratively liable.  If the offender is an alien, he/she will be subject to deportation proceedings after serving his/her sentence and payment of fines.

Any photo or video, or any copy of such photo or video, obtained in violation of the law, will not be admissible in evidence in any judicial, quasi-judicial, legislative or administrative hearing or investigation.

A peace officer may use such photo or video or any copy of such photo or video as evidence in any civil, criminal investigation or trial of the crime of photo or video voyeurism, but only when so authorized by a written order of the court.  Such written order will be issued only upon written application and the examination under oath or affirmation of the applicant and the witnesses he/she may produce, and upon showing that there are reasonable grounds to believe that photo or video voyeurism has been committed or is about to be committed, and that the evidence to be obtained is essential to the conviction of any person for, or to the solution or prevention of such, crime.

Posted in Laws and Implementing Rules, Remedial Law, Uncategorized | 15 Comments »

Republic Act No. 9646 – Real Estate Service Act

Posted by lexforiphilippines on February 24, 2010

To protect the public against incompetent, irresponsible and unscrupulous real estate practitioners, Republic Act No. 9646, otherwise known as the “Real Estate Service Act of the Philippines” was enacted by Congress and signed into law on 29 June 2009.  The law created the Professional Regulatory Board for Real Estate Service (“the Board”) which, under the supervision of the Professional Regulation Commission (PRC), will regulate the practice of real estate service in the Philippines.  Under the new law, real estate consultants, real estate appraisers and real estate brokers must take and pass a Licensure Examination (with some exceptions) and obtain a Certificate of Registration from the Board.  The Licensure Examination will be given by the Board at least once every year on such dates as the PRC may designate.  The law also requires that real estate salespersons must be accredited by the Board.

(For the salient features of Republic Act No. 9646, please click on Laws under Tools.)

Posted in Corporate Law, Law School, Laws and Implementing Rules, Uncategorized | Tagged: | Leave a Comment »

Republic Act No. 9653 – Rent Control Act

Posted by lexforiphilippines on February 11, 2010

For lessors, a new law was signed stating that you could not demand more than one month advance rental and not more than two months deposit. Lessees, on the other hand, will be secured that no increase will be effected one year from its effectivity.

On 14 July 2009, the President signed into law Republic Act 9653, otherwise known as the “Rent Control Act of 2009.”  The law seeks to protect housing tenants in the lower income brackets from unreasonable rent increases.

(To see the salient features of the Rent Control Act, you may click on Laws under Tools.)

Posted in Civil Law, Law School, Laws and Implementing Rules | Tagged: , , | 5 Comments »