lawyers in manila Archives - ABO LAW FIRM

ABO LAW FIRM

GOVERNMENT PLANS AND RESPONSES TO BOLSTER THE ECONOMY DURING AND AFTER THE LOCKDOWN CAUSED BY THE COVID-19 PANDEMIC

The lockdown of the capital Metro Manila and other provinces due to the COVID-19 pandemic has put a damper on the fast rising economy of the Philippines. For the first time in a long-time, the Philippines is looking at a contraction of its economy possibly resulting in many micro, small, and medium enterprises (MSMEs) and also big business like airline companies filing for bankruptcies. The Philippine government has already introduced programs to cushion the economic impact of the pandemic like the Php50.8 billion peso small business wage subsidy program for displaced workers…

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THE REAL ESTATE INVESTMENT TRUST (REIT) : SALIENT PROVISIONS OF R.A. 9856

Republic Act (RA) 9856 otherwise known as “An Act Providing the Legal Framework for Real Estate Investment Trust and for Other Purposes” or the Real Estate Investment Trust (REIT) Act of 2009 lapsed into law on December 17, 2009 when then President Gloria Macapagal Arroyo did not sign the same. PURPOSE OF REAL ESTATE INVESTMENT TRUST LAW The purpose of the REIT law as pursuant to Section 2 thereof is “It is the policy of the State to promote the development of the capital market, democratize wealth by broadening the participation of…

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EASE OF DOING BUSINESS ACT AND THE ANTI-RED TAPE AUTHORITY COUNCIL

Republic Act No. 11032 or the Ease of Doing Business Act is a landmark legislation which created a framework for the government’s initiative to make investment in the Philippines more attractive. Included in the law is the creation and/or appointment of the bodies that are tasked to implement its provisions thereof, the Anti-Red Tape Authority (ARTA) and the Ease of Doing Business and Anti-Red Tape Advisory Council. THE ANTI-RED TAPE AUTHORITY (ARTA) The ARTA, which is attached to the office of the President, is tasked by law to ensure that the provisions…

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FOREIGN INVESTMENT NEGATIVE LIST

On 29 October 2018 President Rodrigo Duterte issued the 11th Foreign Investment Negative List. The said Foreign Investment Negative List took effect on 16 November 2018. As with the previous List, the current one outlines, clarifies the scope and limitations of foreign ownership in businesses in specific industries. The intent of the 11th Foreign Investment Negative List is to ease restrictions on foreign participation in certain investment areas or activities. This can be seen in the easing of restrictions of foreign ownership in many sectors or industries, which now can be owned…

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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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RA 11285-Energy Efficiency And Conservation Act: Salient Provisions And Incentives

Energy Efficiency And Conservation Act On April 12, 2019 President Rodrigo Duterte signed into law Republic Act (RA) 11285 entitled - Energy Efficiency And Conservation Act An Act Institutionalizing Energy Efficiency and Conservation, Enhancing the Efficient Use of Energy, Granting Incentives to Energy Efficiency and Conservation Projects”. The law seeks to “… establish a framework for introducing and institutionalizing fundamental policies on energy efficiency and conservation, including the promotion of efficient and judicious utilization of energy, increase in the utilization of energy efficiency and renewable energy technologies, and the delineation of responsibilities…

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Body-Worn Cameras For The Police in PDEA In The “War On Drugs”

In a memorandum dated October 31, 2019, and released on November 5, 2019, President Rodrigo Duterte appointed Vice-President Leni Robredo as the co-chairperson of the Inter-Agency Committee on Anti-illegal Drugs (ICAD). The President's action effectively placed one of the staunchest critics of the administration’s war on drugs inside its policy-making body where she can propose changes to make the campaign more agreeable to everyone. Vice-President Robredo upon accepting her appointment was quick to give suggestions to improve the Philippines' anti-drug operations. One of these suggestions is the use of body-worn cameras of…

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REVISED CORPORATION CODE OF THE PHILIPPINES: SALIENT PROVISIONS

Salient Provisions of the Revised Corporation Code of the Philippines On February 20, 2019, President Rodrigo Duterte signed into law the Republic Act (RA) 11232 or the Revised Corporation Code of the Philippines effectively repealing Batas Pambansa (BP) 68 or the Corporation Code of the Philippines. RA 11232 law took effect on February 23, 2019. RA 11232 introduced many provisions drastically changing the process of organizing corporations, day to day activities, and compliance with regulatory requirements. The more distinct revisions made by the new law are the following: First, there is no…

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AT THE CROSSROADS

One year has passed since the Firm was established with the dream of providing quality professional services imbued with innovation and youthful zeal. Since then, the Firm has met with sweet success and encountered numerous challenges that drive it to continue to be steadfast in its commitment to provide only the very best service according to the lawyer’s oath. As the Abo and Penaranda Firm gears for its second year of existence, it remembers all the lessons it had learned and experiences it had acquired to move a little closer to its…

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