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S.E.C. Draft Guidelines on the Establishment of One Person Corporation

On March 15, 2019, the Securities and Exchange Commission, in relation to Section 179 of Republic Act No. 11232, otherwise known as the Revised Corporation Code, has released the initial draft on its Guidelines on the Establishment of a One Person Corporation (OPC). In its website at www.sec.gov.ph, “the Commission is inviting all interested parties, market participants and the investing public to submit their views,…

B.I.R. Revenue Regulations No. 6-2019: Implementing Estate Tax Amnesty

In May 30, 2019, the Bureau of Internal Revenue released Revenue Regulations No. 6-2019 dated May 29, 2019 known as Implementing the Provisions of Estate Tax Amnesty under Title II of Republic Act (R.A.) No. 11213, Otherwise Known as the “Tax Amnesty Act”. As stated, the purpose of Revenue Regulations No. 6-2019 was “to provide the taxpayers a one-time opportunity to settle estate tax obligations…

RA 11261: First Time Jobseekers Assistance Act (Full Text)

Republic Act No. 11261 otherwise known as An Act Waiving Government Fees And Charges in the Issuance of Documents Required in the Application for Employment of First Time Jobseekers was signed into law by Pres. Rodrigo R. Duterte last April 10, 2019 and released in May 7, 2019. In accordance with the policy of the State to promote full employment and equality of gainful work…

SEC MC7 S. 2019 – One Person Corporation (OPC) Guidelines

The Securities and Exchange Commission has released the rules for the formation of a One Person Corporation. SEC Memorandum Circular No. 7 s. 2019 dated April 24, 2019 was published last May 1, 2019.  This memorandum circular covers the guidelines for the establishment of a One Person Corporation pursuant to the recently amended Corporation Code of the Philippines.  Under the guidelines, only natural persons can…

R.A. 11222 – The Simulated Birth Rectification Act (Full Text)

On March 14, 2019, President Rodrigo R. Duterte signed Republic Act No. 11222 (R.A. 11222), otherwise known as “An Act  Allowing The Rectification Of Simulated Birth Records And Prescribing Administrative Adoption Proceedings For The Purpose”.  The principal author of the bill was Senator Grace Poe. R.A. 11222 or The Simulated Birth Rectification Act was enacted with the following objectives: To grant amnesty and allow the…

R.A. 11228: Mandatory Philhealth Coverage For All Persons With Disability (PWDs) Signed Into Law Feb. 22, 2019 (Full Text)

On February 22, 2019, President Rodrigo R. Duterte signed into law Republic Act No. 11228 known as “An Act Providing For The Mandatory Philhealth Coverage For All Persons With Disability (PWDs), Amending For The Purpose Republic Act No. 7277, As Amended, Otherwise Known As The “Magna Carta For Persons With Disability”. R.A. 11228 was sponsored by Senator Risa N. Hontiveros in the Senate. R.A. 11228…

Natural Gas Deposit Accidentally Discovered in Magallanes, Agusan del Norte? Two viral videos seem to show.

Based on two raw videos posted on Facebook that have gone viral, natural gas deposit is said to have been accidentally discovered in Purok 8, Poblacion, Magallanes, Agusan del Norte on March 3, 2019. As can be seen in the video shared by netizen Inday Joffee on her Facebook page, grayish water was shown gushing out wildly from the river, near some nipa palms on…

BIR Revenue Memorandum Circular No. 29-2019 (RMC No. 29-2019): Keeping, Maintaining and Registration of Books of Account

On February 26, 2019, the Bureau of Internal Revenue released Revenue Memorandum Circular No. 29-2019 dated February 22, 2019 which provides guidelines in keeping, maintaining and registration of Books of Accounts. RMC 29-2019 was issued pursuant to the National Internal Revenue Code, as amended by Republic Act (R.A.) No. 10963 and in relation to R.A. No. 11032 (Ease of Doing Business and Efficient Government Service…

R.A. 11227: A Handbook for OFWs Act of 2018 Signed Into Law Feb. 22, 2019 (Full Text)

On February 22, 2019, President Rodrigo R. Duterte signed into law Republic Act 11227 (R.A. 11227) known as “An Act Mandating the Philippine Overseas Employment Administration (POEA) To Develop, Publish, Disseminate and Update a Handbook On the Rights and Responsibilities of Migrant Workers, Amending For The Purpose Republic Act No. 8042, Otherwise known as the “Migrant Workers and Overseas Filipinos Act of 1995”, as Amended…

R.A. 11223: The Universal Health Care Act – Signed Into Law By Duterte, Feb. 20, 2019 (Full Text)

On February 20, 2019, Pres. Rodrigo R. Duterte signed into law Republic Act No. 11223 (R.A. 11223) entitled “An Act Instituting Universal Health Care For All Filipinos, Prescribing Reforms in the Health Care Systems, And Appropriating Funds Therefore”. R.A 11223 or The Universal Health Care Act is enacted pursuant to “the policy of the state to protect and promote the right to health of all…

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