New Tax Rates on Stock Transfers This article discusses the tax involved in the transfer of stocks which are listed and traded through the Local Stock Exchange. In stock transfers, the tax to be paid is called a Percentage Tax, which is a business tax imposed on stock transfer transactions such as the sale, barter, […]
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Purpose of the Law To protect the public against dishonest or misleading advertising or promotion, and to ensure that every consumer acquires sufficient knowledge to be an informed consumer, particularly in the choice of the consumer products that he or she wishes to purchase or consume, the Food and Drug Administration (“FDA”) issued Administrative Order […]
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Mandate of the Food and Drug Administration Republic Act No. 3720, or otherwise known as the Food, Drug, and Cosmetic Act, is the law creating the Food and Drug Administration (“FDA”), which is under the Office of the Secretary of the Department of Health. The FDA is tasked by law to prescribe standards, guidelines, and […]
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What is a medical device? The regulations issued by the Food and Drug Administration (FDA) of the Philippines defined a ‘medical device’ as any instrument, apparatus, implement, machine, appliance, implant, in-vitro reagent or calibrator, software, material, or other similar or related article intended by the manufacturer to be used alone, or in combination, for human […]
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FDA Issuance Requiring a Product Information File With the end in view of ensuring safety, quality and/or efficacy of the cosmetic products that companies are placing in the market, the Food and Drug Administration (FDA) issued FDA Circular No. 2018-001, which requires a Marketing Authorization Holder (MAH) to keep and maintain a Product Information File. […]
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The Supreme Court enacts New Rules of Procedure on Liquidation of Closed Banks The Supreme Court recently enacted new rules of procedure for the liquidation of closed banks in the Philippines. Scheduled to take effect on April 16, 2020, A.M. No.19-12-02-SC governs the Rules on Liquidation of Closed Banks (Rules). The Rules apply to local […]
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New Rules of Procedure for Admiralty or Maritime Claims in the Philippines With the end in view of providing a fast, reliable, and efficient means of recourse to Philippine courts and enhancing the administration of justice in Admiralty cases in the Philippines, the Supreme Court promulgated Administrative Matter No. 19-08-14-SC, or otherwise known as the […]
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Do you want to participate in the real estate business in the Philippines? Do you know where to invest your money in real estate and create a real estate investment trust? If you don’t have the necessary knowledge about real estate investment, this article will help you know the basics about real estate investment trust. […]
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Regulatory Issuance Governing Cosmetic Product Notification From manual application process, the application for cosmetic product notification in the Philippines can now be done online. Aiming to streamline the process by updating the submission of application requirements from the previously manual form to online submissions, the Food and Drug Administration (FDA) allowed online application process. This […]
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Philippine Regulatory Agency for Beverages with Alcohol In the Philippines, the proper government agency that is authorized under the law to act as the policy formulation and sector monitoring of the Secretary of the Department of Health, on matters pertaining to food, drugs, traditional medicines, cosmetics and household products containing hazardous substances, is the Food […]
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