Republic Act No. 11234: Energy Virtual Online One Stop Shop Law or the EVOSS ACT

The Philippines is an emerging economy and its economy has greatly shifted from agriculture to industry. In terms of energy use, conventional fossil fuels (oil and gas) are the main source for its primary energy demands. Philippines is highly exposed to oil price volatility due to the fact that it is dependent on imports for almost half of its primary energy supply. Consequently, the Government resolves to bolster its energy security while doing a delicate balancing act of pursuing a low carbon economic development to combat the effects of climate change. It…

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General Appropriations Bill 2021— House Bill 7727

Ode to 2021: Reset, Rebound, Recover As we enter the final month of what has been a universally challenging, unprecedented year of tackling both a pandemic and the subsequent financial crisis it plunged the world into, concerns regarding the imminent new year is expected. On Thursday 26 November 2020, the House of Senate approved the third and final reading of the 2021 national budget known as the General Appropriations Bill (GAB). The proposed budget stands at an impressive Php 4.5 trillion. This is 9.9% higher than the national budget for 2020 and…

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The Proposed Corporate Recovery and Tax Incentives for Enterprises Act

Love in the Time of CholeraGabriel Garcia Marquez TAX INCENTIVES AND MEASURES IN THE TIME OF PANDEMIC The Government of the Philippines has always tried to find ways to improve its corporate tax system and to progress more effective and competitive tax incentives to encourage Filipinos to hone their entrepreneurship spirit and also to attract foreign investors. In February 2020, Congress, the legislative branch of the Government, proposed several tax measures to further the said purpose. One of the proposed tax measures is the Corporate Income Tax and Incentives Reform Act (CITIRA)…

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