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                    [ArticleID] => 1436777
                    [Title] => PEACe bonds: Not deposit substitutes
                    [Summary] => 
On Jan. 13, 2015, the Supreme Court, through Justice Leonen, ultimately put to rest the issue over the classification  of Poverty Eradication and Alleviation Certificates (PEACe) Bonds as deposit substitutes, subject to taxations.

                    [DatePublished] => 2015-03-24 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1347416
                    [AuthorName] => Hana Kamille A. Escueta
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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                    [ArticleID] => 1283670
                    [Title] => Affirming the strict interpretation of allowable deductions for PEZA-registered entities
                    [Summary] => 
To attract investors to do business in the Philippines, the country has enacted several laws that grant special tax incentives to investors.

                    [DatePublished] => 2014-01-28 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1133873
                    [AuthorName] => April Rose B. Javier
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 1278487
                    [Title] => Tax exemptions on retirement plans: Revalidated and clarified
                    [Summary] => 
Retirement laws aim to assist retirees in their old age, and hopefully not to punish them for having survived.

                    [DatePublished] => 2014-01-14 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1108339
                    [AuthorName] => Aileen Grace P. Pizaña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                    [ArticleID] => 939085
                    [Title] => No room for recovery for an FTAA contractor
                    [Summary] => 
In the said BIR Rulings, the BIR commissioner cited as his legal basis, a case (G.R. No. 127882, 1 December 2004) decided by no less than the Supreme Court (SC), sitting en banc, wherein it was ruled that during the recovery period, the payment by the contractor of national taxes is waived.

                    [DatePublished] => 2013-05-07 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1489875
                    [AuthorName] => Maria Ofelia B. Galura
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                (
                    [ArticleID] => 936443
                    [Title] => No room for recovery for an FTAA contractor
                    [Summary] => 
During the Council on Foreign Relations held sometime in 2010 in New York City, President Aquino made a remark: “The Philippines has vast minerals that are still untapped. It has one of the world’s largest deposits of gold, nickel, copper and chromite.

                    [DatePublished] => 2013-04-30 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1489875
                    [AuthorName] => Maria Ofelia B. Galura
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                    [ArticleID] => 913093
                    [Title] => Exercise of stock options: Compensation or a fringe benefit?
                    [Summary] => 
Just as the annualization of withholding tax is about to begin, the Commissioner of Internal Revenue (CIR) issued Revenue Memorandum Circular No. (RMC) 88-2012 dated December 27, 2012, to clarify the tax implications of income or gain from the exercise of stock option plans.

                    [DatePublished] => 2013-02-26 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1215320
                    [AuthorName] => Cecille A. Fernando
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [6] => Array
                (
                    [ArticleID] => 868735
                    [Title] => Taxing citizens with new perspectives
                    [Summary] => 
How the Philippines taxes its citizens should be straightforward. Citizens are taxed based on tax status and residency. Tax status is inconsequential across taxpayers whether single, married or head of the family because they are allowed the same basic personal exemption deduction.

                    [DatePublished] => 2012-11-20 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1436462
                    [AuthorName] => Karen Jane S. Vergara-Manese
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                    [ArticleID] => 799675
                    [Title] => BIR ruling No. 014-12: Is the enumeration of allowable deductions exclusive?
                    [Summary] => 
Tax incentives are certainly among the reasons why an investor would want to do business in a country.
                    [DatePublished] => 2012-04-24 00:00:00
                    [ColumnID] => 134573
                    [Focus] => 0
                    [AuthorID] => 1148742
                    [AuthorName] => Atty. Mark Nette E. Concepcion
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                (
                    [ArticleID] => 738609
                    [Title] => TRO issued vs tax on Peace bonds
                    [Summary] => 
The Supreme Court (SC) temporarily stopped yesterday the imposition of final withholding tax on the controversial P35-billion Poverty Eradication and Alleviation Certificates (PEACe) bonds. The SC order came on the day of the bonds’ maturity.
                    [DatePublished] => 2011-10-19 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096875
                    [AuthorName] =>  Edu Punay
                    [SectionName] => Headlines
                    [SectionUrl] => headlines
                    [URL] => 
                )

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                    [ArticleID] => 346764
                    [Title] => TOAP clarifies ruling on UITF
                    [Summary] => The Trust Officers’ Association of the Philippines (TOAP) said that gains arising from redemption of unit investment trust fund (UITF) participation are not subject to a final withholding tax. 


In a position paper, the TOAP said the Bureau of Internal Revenue (BIR) Ruling No. 003-05 stated that the final tax withheld on interest income payments to the trust fund is distinct and separate from the tax on the income derived by the individual investor, it qualified that this is only applicable to irrevocable trusts. 


                    [DatePublished] => 2006-07-11 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

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)

RULING NO

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                    [ArticleID] => 1436777
                    [Title] => PEACe bonds: Not deposit substitutes
                    [Summary] => 
On Jan. 13, 2015, the Supreme Court, through Justice Leonen, ultimately put to rest the issue over the classification  of Poverty Eradication and Alleviation Certificates (PEACe) Bonds as deposit substitutes, subject to taxations.

                    [DatePublished] => 2015-03-24 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1347416
                    [AuthorName] => Hana Kamille A. Escueta
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 1283670
                    [Title] => Affirming the strict interpretation of allowable deductions for PEZA-registered entities
                    [Summary] => 
To attract investors to do business in the Philippines, the country has enacted several laws that grant special tax incentives to investors.

                    [DatePublished] => 2014-01-28 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1133873
                    [AuthorName] => April Rose B. Javier
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 1278487
                    [Title] => Tax exemptions on retirement plans: Revalidated and clarified
                    [Summary] => 
Retirement laws aim to assist retirees in their old age, and hopefully not to punish them for having survived.

                    [DatePublished] => 2014-01-14 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1108339
                    [AuthorName] => Aileen Grace P. Pizaña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                (
                    [ArticleID] => 939085
                    [Title] => No room for recovery for an FTAA contractor
                    [Summary] => 
In the said BIR Rulings, the BIR commissioner cited as his legal basis, a case (G.R. No. 127882, 1 December 2004) decided by no less than the Supreme Court (SC), sitting en banc, wherein it was ruled that during the recovery period, the payment by the contractor of national taxes is waived.

                    [DatePublished] => 2013-05-07 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1489875
                    [AuthorName] => Maria Ofelia B. Galura
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 936443
                    [Title] => No room for recovery for an FTAA contractor
                    [Summary] => 
During the Council on Foreign Relations held sometime in 2010 in New York City, President Aquino made a remark: “The Philippines has vast minerals that are still untapped. It has one of the world’s largest deposits of gold, nickel, copper and chromite.

                    [DatePublished] => 2013-04-30 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1489875
                    [AuthorName] => Maria Ofelia B. Galura
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 913093
                    [Title] => Exercise of stock options: Compensation or a fringe benefit?
                    [Summary] => 
Just as the annualization of withholding tax is about to begin, the Commissioner of Internal Revenue (CIR) issued Revenue Memorandum Circular No. (RMC) 88-2012 dated December 27, 2012, to clarify the tax implications of income or gain from the exercise of stock option plans.

                    [DatePublished] => 2013-02-26 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1215320
                    [AuthorName] => Cecille A. Fernando
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [6] => Array
                (
                    [ArticleID] => 868735
                    [Title] => Taxing citizens with new perspectives
                    [Summary] => 
How the Philippines taxes its citizens should be straightforward. Citizens are taxed based on tax status and residency. Tax status is inconsequential across taxpayers whether single, married or head of the family because they are allowed the same basic personal exemption deduction.

                    [DatePublished] => 2012-11-20 00:00:00
                    [ColumnID] => 136078
                    [Focus] => 0
                    [AuthorID] => 1436462
                    [AuthorName] => Karen Jane S. Vergara-Manese
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                    [Title] => BIR ruling No. 014-12: Is the enumeration of allowable deductions exclusive?
                    [Summary] => 
Tax incentives are certainly among the reasons why an investor would want to do business in a country.
                    [DatePublished] => 2012-04-24 00:00:00
                    [ColumnID] => 134573
                    [Focus] => 0
                    [AuthorID] => 1148742
                    [AuthorName] => Atty. Mark Nette E. Concepcion
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [8] => Array
                (
                    [ArticleID] => 738609
                    [Title] => TRO issued vs tax on Peace bonds
                    [Summary] => 
The Supreme Court (SC) temporarily stopped yesterday the imposition of final withholding tax on the controversial P35-billion Poverty Eradication and Alleviation Certificates (PEACe) bonds. The SC order came on the day of the bonds’ maturity.
                    [DatePublished] => 2011-10-19 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096875
                    [AuthorName] =>  Edu Punay
                    [SectionName] => Headlines
                    [SectionUrl] => headlines
                    [URL] => 
                )

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                    [ArticleID] => 346764
                    [Title] => TOAP clarifies ruling on UITF
                    [Summary] => The Trust Officers’ Association of the Philippines (TOAP) said that gains arising from redemption of unit investment trust fund (UITF) participation are not subject to a final withholding tax. 


In a position paper, the TOAP said the Bureau of Internal Revenue (BIR) Ruling No. 003-05 stated that the final tax withheld on interest income payments to the trust fund is distinct and separate from the tax on the income derived by the individual investor, it qualified that this is only applicable to irrevocable trusts. 


                    [DatePublished] => 2006-07-11 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
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abtest

PEACe bonds: Not deposit substitutes

By Hana Kamille A. Escueta | March 24, 2015 - 12:00am

On Jan. 13, 2015, the Supreme Court, through Justice Leonen, ultimately put to rest the issue over the classification  of Poverty Eradication and Alleviation Certificates (PEACe) Bonds as deposit substitutes,...

Business

Affirming the strict interpretation of allowable deductions for PEZA-registered entities

By April Rose B. Javier | January 28, 2014 - 12:00am

To attract investors to do business in the Philippines, the country has enacted several laws that grant special tax incentives to investors.

Business

Tax exemptions on retirement plans: Revalidated and clarified

By Aileen Grace P. Pizaña | January 14, 2014 - 12:00am

Retirement laws aim to assist retirees in their old age, and hopefully not to punish them for having survived.

Business

No room for recovery for an FTAA contractor

By Maria Ofelia B. Galura | May 7, 2013 - 12:00am

In the said BIR Rulings, the BIR commissioner cited as his legal basis, a case (G.R. No. 127882, 1 December 2004) decided by no less than the Supreme Court (SC), sitting en banc, wherein it was ruled that during...

Business

No room for recovery for an FTAA contractor

By Maria Ofelia B. Galura | April 30, 2013 - 12:00am

During the Council on Foreign Relations held sometime in 2010 in New York City, President Aquino made a remark: “The Philippines has vast minerals that are still untapped. It has one of the world’s largest...

Business

Exercise of stock options: Compensation or a fringe benefit?

By Cecille A. Fernando | February 26, 2013 - 12:00am

Just as the annualization of withholding tax is about to begin, the Commissioner of Internal Revenue (CIR) issued Revenue Memorandum Circular No. (RMC) 88-2012 dated December 27, 2012, to clarify the tax implications...

Business

Taxing citizens with new perspectives

By Karen Jane S. Vergara-Manese | November 20, 2012 - 12:00am

How the Philippines taxes its citizens should be straightforward. Citizens are taxed based on tax status and residency. Tax status is inconsequential across taxpayers whether single, married or head of the family...

Business

BIR ruling No. 014-12: Is the enumeration of allowable deductions exclusive?

By Atty. Mark Nette E. Concepcion | April 24, 2012 - 12:00am

Tax incentives are certainly among the reasons why an investor would want to do business in a country.

Business

TRO issued vs tax on Peace bonds

By Edu Punay | October 19, 2011 - 12:00am

The Supreme Court (SC) temporarily stopped yesterday the imposition of final withholding tax on the controversial P35-billion Poverty Eradication and Alleviation Certificates (PEACe) bonds. The SC order came on the...

Headlines

TOAP clarifies ruling on UITF

July 11, 2006 - 12:00am

The Trust Officers’ Association of the Philippines (TOAP) said that gains arising from redemption of unit investment trust fund (UITF) participation are not subject to a final withholding tax. In a position...

Banking