Last September 2019, the House of Representatives on the third and final reading voted in favor of House Bill (HB) 4157 or CORPORATE INCOME TAX AND INCENTIVES RATIONALIZATION (CITIRA) which will amend certain provisions of the National Internal Revenue Code (NIRC) of 1997. On March 9, 2020, President Rodrigo Duterte certified as urgent Senate Bill 1357 which is the upper house’s version of the bill. However, further bicameral deliberations on the matter have suddenly stopped due to the COVID-19 pandemic that saw restrictions and lockdowns on the Philippine capital and provinces. Now,…

The COVID-19 pandemic currently ravaging the world has been causing lockdowns and putting non-essential businesses on virtual standstill. In the Philippines, many areas are under “Enhanced Community Quarantine” (ECQ) which is basically a lockdown, causing non-essential businesses to temporarily shutter its doors and resulting in economic reverses. One of the hardest hit sectors are the micro, small and medium enterprises (MSMEs) who are not big enough and cash-rich enough to survive the suspension of its businesses without government aid. Thus, the government through a law, issuances, and other declarations, have been making…

On 10 March 2020, the House of Representatives approved on the third and final reading House Bill 78, which if passed into law, will amend Commonwealth Act No. 89 or the Public Service Law. HB 78, if passed into law, would put a statutory definition on a public utility which under the current law is considered the same as public service. Putting a definition to, and limiting what is considered a public utility to just a handful of industries would effectively remove foreign-ownership restrictions on the industries not considered as public utilities.…