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News and developments

Environmental, Social and Governance

How ESG impacts M&As and dealmaking

By Atty. Kristine Torres  and Atty. Mark S. Gorriceta March 29, 2024 – In the era of sustainability and growing concerns over climate change, environmental, social and governance (ESG) considerations have gained more significance in the context of mergers and acquisition (M&As) and dealmaking. Companies, investors and stakeholders are faced with increasing pressure to integrate ESG factors in business and investment decisions including M&As transactions.
24 March 2025
Environmental, Social and Governance

Going Green: Sustainable Business Practices for a Sustainable Future

By: Atty. Ma. Katrina Rafaelle M. Ortiz August 28, 2024 – In today’s evolving business environment, the pursuit of profit remains as an important objective for businesses and other economies. However, there are recent shifts in stakeholder priorities which indicates that profit alone is no longer the primary concern. Key stakeholders like investors, customers, and employees now emphasize the need for sustainable practices that safeguard our collective future, one of which is the need for an Environmental, Social, and Governance (ESG) criteria that will lay the foundation for a more sustainable business and economic growth.
24 March 2025
Corporate and Commercial

Getting to Know You, The AMLA Way

By: Atty. Marisol O. Sison August 28, 2024 – Customer due diligence in the financial industry is akin to getting to know someone before embarking on a long-term relationship. Just as individuals assess compatibility, potential red flags, and shared values, covered persons (e.g. Banko Sentral ng Pilipinas supervised entities, Securities and Exchange Commission supervised entities, Insurance Commission supervised entities, Casinos, and Designated Non-Financial Business and Profession) must thoroughly understand their customers to mitigate risks and prevent money laundering and counter-terrorist financing.
24 March 2025
E-Commerce

Retail Reboot: Unboxing the Internet Transactions Act of 2023

By: Atty. Ellice Edlyn L. Crescini October 1, 2024 – The COVID-19 pandemic forced everyone to change the way they shop.  Some of those changes, like the urge to hoard face masks and alcohol, were short-lived.  But other fundamental changes appear to be here to stay.  While e-commerce was a buzzword some years ago, today it is the norm.  Long after the easing of COVID-19 restrictions, people continue to engage in online shopping anywhere and everywhere. Whether it’s essentials or indulgences, convenience has become king, and the internet is the proverbial keys to the kingdom.
24 March 2025
Environmental, Social and Governance

ESG Investing and Sustainability Reporting in the Philippines

By Atty. Kristine Torres  and Atty. Mark S. Gorriceta January 31, 2025 –  In recent years, we have seen a transformative shift in how investments are evaluated by incorporating environmental, social and governance (ESG) factors in investment decision-making. Beyond profitability, investors look through a business’ sustainability by evaluating environmental and societal contributions, and governance practices as useful benchmarks in the investing world.
24 March 2025
Tax

Now Loading...VAT on Digital Services

By: Atty. Karlene Erika Liao February 18, 2025 – On October 2, 2024, President Ferdinand R. Marcos, Jr. signed into law Republic Act No. 12023 or the Value-Added Tax (VAT) on Digital Services Act (the “Act”), which aims to ensure equitable tax treatment of all digital businesses providing services in the Philippines and generate much-needed additional revenue to aid national development. The Act also aims to level the playing field between local and foreign digital service providers (DPS) by, among others, imposing 12% VAT on all digital services consumed in the Philippines.
24 March 2025
Tax

It's More (Re)Fun(d) in the Philippines – A VAT Refund Legislation for Foreign Tourists!

By: Atty. Gerard Ceasar S. Baguio February 28, 2025 – What better way to end a vacation than claiming Value-Added Tax (VAT) or Sales Tax refunds as you wait for your flight back home? Many countries recognize the benefit of encouraging tourists to shop locally by offering these refunds. However, for foreign visitors to the Philippines, this has been a long-overdue privilege. Imagine the joy of exploring the vibrant markets and stunning beaches of the Philippines, knowing that a portion of your spending will return to you—turning your shopping spree into an even more rewarding adventure. It's high time the Philippines joins the ranks of tourist destinations that offer this tax benefit.
24 March 2025
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