December 2019 - ABO LAW FIRM

ABO LAW FIRM

PREMIUM PAYMENTS (HOLIDAY PAY) FOR WORKERS WHO REPORT FOR DUTY ON REGULAR AND SPECIAL HOLIDAYS

PREMIUM PAYMENTS (HOLIDAY PAY) It’s the time of the year where holidays are a plenty and where millions spend valuable time with their loved ones. However, many businesses do not stop on holidays and some workers are required by their employers to go on duties. In return, workers who are required to report for work on holidays are given additional pay in accordance with labor laws. PREMIUM PAYMENTS FOR WORKERS WHO REPORT ON A REGULAR HOLIDAY Workers who report for work during an official regular holiday are entitled to “double pay” or…

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MERGERS AND CONSOLIDATIONS AS GOVERNED BY THE REVISED CORPORATION CODE OF THE PHILIPPINES

MERGERS AND CONSOLIDATIONS Corporations, may decide to merge or consolidate because of various reasons. It could be because corporations want to increase their value that they normally cannot do alone or they want to diversify their businesses or acquire assets or many other motivations. However, corporations before entering into mergers and consolidations, they must need to carefully look at the provisions of the governing law, the Revised Corporation Code of the Philippines (RCCP). WHAT IS A MERGER? If two or more corporations merge into a single corporation which shall be one of…

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THE EASE OF DOING BUSINESS LAW OR SALIENT PROVISIONS OF REPUBLIC ACT 11032

Ease of doing business law On May 28, 2018 President Rodrigo Duterte signed into law Republic Act (RA 11032) or the Ease of Doing Business Law. This law aims to entice entrepreneurs to open up their businesses in the Philippines by expediting business and non-business transactions including the issuances of permits and licenses and holding government officials accountable for graft and corruption. This law is an amendment to the Anti Red-Tape Act of 2007. The following are the salient provisions of the Ease of Doing Business Law. FASTER TRANSACTIONS DUE TO EASE…

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PHILIPPINE OFF-SHORE GAMING OPERATIONS (POGO) AND THEIR TAXES

POGO In The Philippines The Philippine Offshore Gaming Operations (POGO) has been a major contributor to the Philippine economy since its entry to the country sometime in 2003. Since then, more and more foreign companies and entities are entering the Philippines to get a slice of the lucrative offshore gaming market. As the number of POGOs increase, regulating them has been a problem, thus, the Philippine government has tasked the Philippine Amusement and Gaming Corporation (PAGCOR) with the main responsibility of regulating and the registration of POGOs. There are also other regional…

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