A Branch office of a foreign company carries out the business activities of the foreign head office and derives income from the Philippines. It has NO separate legal personality since it is merely an extension of the foreign head office. The minimum inward remittance for a branch office is Two Hundred Thousand United States Dollars […]
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Should you wish to incorporate a Philippine subsidiary, you need to file an application with the Securities & Exchange Commission. It must be noted that a subsidiary has a distinct and separate personality from its parent company. In forming a subsidiary, it must be borne in mind that the Corporate Secretary and Corporate Treasurer must
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Being the subject of unfair criticism and gossip are matters which adversely affect persons from all walks of life. At one point, we have encountered situations wherein we have been victimized by insulting and defamatory remarks. Oftentimes, we ignore such hurtful and unfounded insinuations. However, when things get out of hand and our reputation is
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IMPORTANT: This article is relevant only to those who died before 01 January 2018 since Republic Act No. 10963, otherwise known as the Tax Reform for Acceleration and Inclusion Law (TRAIN Law), amended the Tax Code, including the procedure, tax rates and deductions for estate taxes. The TRAIN Law became effective on 01 January 2018.
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Before commencing your business in the Philippines, you need to secure a Business permit or Mayor’s permit, as it is commonly called, from your local government where your business is located. Here are some notes on business permits: • Business permits expire on the 31st of December unless the permits are issued on a quarterly
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Trademark applications are filed with the Philippine Intellectual Property Office (IPO). Filipinos or Filipino corporations may directly file their applications with the IPO. However, foreigners or foreign corporations have to appoint a local agent or representative in order to file applications with the IPO. Applying for a trademark is not like getting a business permit
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Before a foreigner commences work in the Philippines, he must first secure an Alien Employment Permit (AEP) from the Department of Labor and Employment (DOLE). However, not all foreigners are required to do so. The following are exempted from securing an AEP: 1. Members of the diplomatic services and foreign government officials accredited by the
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Any person, natural or juridical, cooperative or association, or business entity or enterprise engaged in production, processing, manufacturing of products or commodities, including agro-processing, trading and services may apply for Certificate of Authority as a BMBE provided that they should have at least a total asset value, including those arising from loans but exclusive of
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Women employees who are victims as defined in Republic Act No. 9262, otherwise knows as the Anti-Violence Against Women and Their Children Law, are entitled to a leave of up to ten (10) days with full pay. The said leave shall be extended when the need arises, as specified in the protection order issued by
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An employee may only be terminated for just causes or for authorized causes under the Labor Code. The following are considered as just causes: 1. Serious misconduct or willful disobedience by the employee of the lawful orders of his employer or representative in connection with his work; 2. Gross and habitual neglect by the employee
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