Under the Revised Corporation Code, a single stockholder may now form a corporation. Said corporation is called a One Person Corporation (“OPC”). The single stockholder in an OPC should be a natural person, trustee or estate. Banks and quasi-banks, preneed, trust, insurance, public and publicly listed companies, and non chartered government owned and controlled corporations may not incorporate as an OPC. A natural person who is licensed to exercise a profession may not organi

Last March 16, 2019, the lawyers of Nonato Nonato Nonato-Luciano & Luciano Law Offices conducted a legal seminar on the new laws: the Tax Amnesty Law, the Revised Corporation Code, 105-Day Expanded Maternity Leave Law and the SSS Act of 2018. The seminar was held in Palmbeach Resort and Spa. To know more about the seminars the firm will be conducting in the future, please send an email to roselle.jean@nonatolaw.com. #legalseminar #cebulawyer #CebuBusiness #cebulawoffice #Cebu

President Duterte signed into law Republic Act No. 11232 or the Revised Corporation Code which promises to improve the ease of doing business in the Philippines. Among the notable changes are the following: A single person may now organize a corporation. A corporation with only one stockholder is called a One Person Corporation. A corporation now has perpetual existence unless provided otherwise in its articles of incorporation. A corporation whose term has expired may now ap

Nonato Nonato Nonato-Luciano and Luciano Law Offices conducted a successful seminar on Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Law last January 27, 2018. The seminar was held in Palmbeach Resort & Spa and attended by many of the firm's clients and other companies. #TRAINLaw #cebulawofficePhilippinelaborcompliance #CebuBusiness #Cebuinvestments #cebulawoffice #CebuLawyers #cebulawfirm #Philippineslawyer #PhilippineTax #EstateTax

Nonato Nonato Nonato-Luciano and Luciano Law Offices will be holding a half-day seminar on Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Law on January 27, 2018, Saturday, 1:30 p.m. to 5 p.m., at the Clubhouse of Palmbeach Resort & Spa, Punta Engano, Lapu-Lapu City, Mactan. The seminar fee is Php1,000 per person inclusive of snacks. To reserve a seat, please call Odessa at (032) (3447727) or email roselle.jean@nonatolaw.com. Limited seats are

The Tax Reform for Acceleration and Inclusion (TRAIN) Law, otherwise known as Republic Act No. (RA) 10963, became effective last January 1, 2018. Pursuant to this, the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 105-2017 releasing the new withholding tax table on compensation effective January 1, 2018 to December 31, 2022. Under RA 10963, those with an annual income of Php250,000 and below or approximately a monthly income of Php20,833 and be

Under Republic Act No. 10173 or the Philippine Data Privacy Act, companies which control or process (i.e. collect, record, organize, store, consolidate, modify) personal information (i.e. any information, whether recorded in a material form or not, from which the identity of an individual is apparent or can be reasonably and directly ascertained by the entity holding the information, or when put together with other information would directly and certainly identify an individu

The Supreme Court in Kimberly Clark Philippines, Inc. v. Nora Dimayuga et.al.[1] reiterated the ruling in Businessday Information Systems and Services, Inc. v. NLRC (Businessday):[2] With regard to the private respondents claim for the mid-year bonus, it is settled doctrine that the grant of a bonus is a prerogative, not an obligation, of the employer. The matter of giving a bonus over and above the workers lawful salaries and allowances is entirely dependent on the financial

What are the activities that an RHQ / ROHQ may engage in? A. REGIONAL HEADQUARTERS (RHQ) The activities of the RHQ are limited to acting as a supervisory, communications and coordinating center for its subsidiaries, affiliates and branches in the region. It is neither allowed to derive any income from sources in the Philippines and to participate in any manner in the management of any subsidiary or branch office it might have in the Philippines nor to solicit or market goods

Under Republic Act No. 10754 or An Act Expanding The Benefits and Privileges of Persons With Disability (PWD), PWDs are given at least a twenty percent (20%) discount and exempted from the twelve percent (12%) Value Added Tax (VAT) on the following: On the fees and charges relative to the utilization of all services in hotels and similar lodging establishments; restaurants and recreation centers; On admission fees charged by theaters, cinema houses, concert halls, circuses,