Archive for the 'Tax and Estate Law' Category

Changes in the Application and Issuance of Importer’s Clearance Certificate (ICC), Broker’s Clearance Certificate (BCC)

A number of our importer-clients have been complaining about the Manila City port congestion and the apparent lack of communication between the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BoC) when it comes to the requirements relating to the Importer’s Clearance Certificate (ICC) and Broker’s Clearance Certificate (BCC). A welcome development is the […]

Primer on the Minimum Wage Tax Exemption

It’s that time of the year when we are again required to pay taxes and file our income tax returns. Some, however, are exempt from paying income tax. Minimum wage earners are not required to pay income taxes. Here’s a primer of the new law.

Primer on the Tax Amnesty Act of 2007 (RA 9480)

What is Republic Act No. 9480? It is a law, referred to as the “Tax Amnesty Act of 2007” passed by Congress granting amnesty to all unpaid internal revenue taxes imposed by the national government for the taxable year 2005 and prior years. Until when can taxpayers avail of the benefits of this law? The […]

Last Will and Testament: Basic Discussion

The settlement of a person’s estate after his/her death, based on our experience, is potentially one of the more bitter litigations. It’s never good to see relatives fighting each other. Some persons, with the intent of controlling the disposition of his/her properties after his/her death (and hopefully prevent fighting among his/her heirs over the properties […]

Withdrawal of exemptions to pay local taxes: The TELCO cases

SC newsflash: SC Holds DIGITEL Accountable to Pangasinan for Local Taxes. The Supreme Court recently found Digital Telecommunications Philippines, Inc. (DIGITEL) liable to the Province of Pangasinan for the payment of provincial franchise and real property taxes. The SC affirmed the ruling of the lower court that the tax exemption in Republic Act (“R.A.”) No. […]

Basic concepts in estate proceedings and estate tax

Among the inescapable facts in life, something which everyone shares regardless of status, race, sex or creed, is death. A person may leave properties (or liabilities) upon death, so a discussion on the basic concepts on estate proceedings is in order. Inheritance – Inheritance includes all the property, rights and obligations of a person which […]

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