Amatong Law Office

07/03/2021

Target ng Insurance Commission (IC) na i-roll out sa first quarter ng 2021 ang pinakaunang private sector-led catastrophe insurance facility sa bansa.

Ang Philippine Catastrophe Insurance Facility (PCIF) ay mag-a-allow sa mga non-life insurer (e.g., insurance companies para sa mga sasakyan, travel, lupa, at iba pa) na i-hand over ang kanilang catastrophe risks dito sa insurance pool o facility na ito. Dahil sa PCIF, matutulungan ang mga non-life insurance companies na:

✅ Efficiently ma-manage ang kanilang catastrophe exposures
✅ Ma-boost ang kanilang kapasidad na tumanggap ng mas madaming catastrophe risk

Ang PCIF ay dinisenyo upang pataasin ang financial resilience ng Pilipinas laban sa natural disasters.

Basahin: https://www.dof.gov.ph/ic-targets-rollout-of-catastrophe-insurance-facility-in-q1/

Upang makatanggap ng on-the-go updates sa Philippine economy, SUMALI sa DOF Viber community: https://vb.me/dofcommunity

06/03/2021

ALAM MO BA? Ang tatlong economic recovery measures (CREATE, FIST, at GUIDE) ng gobyerno ay importante upang makapagbigay ng kinakailangang stimulus sa private sector at matulungan silang mag-bounce back mula sa economic shock dulot ng COVID-19 pandemic.

Basahin: https://www.dof.gov.ph/dominguez-says-strong-private-sector-key-to-sustainable-recovery-this-year/

Upang makatanggap ng on-the-go updates sa Philippine economy, SUMALI sa DOF Viber community: https://vb.me/dofcommunity

05/03/2021

Ang pangalawang Karapatan ng Mamimili ay Kaligtasan.

Ano ang mga maaari mong gawin?

• Basahin ang labels ng mga produktong binibili kung ikaw ay sensitibo o may allergy sa pagkain.
• Manghingi ng tulong sa store staff para siguraduhin na gumagana ang produktong bibilhin
• Ingatan na hindi maabot ng mga bata ang mga produktong delikado
• Manghingi ng sample or tester para sa mga produktong binebenta na bulto or maramihan.
• Mag-ingat sa mga produktong mapanganib sa kalusugan

Para sa karagdagang impormasyon pumunta sa bit.ly/DTI_ConsumerEd

04/03/2021

The Department of Finance (DOF) joins the country in celebrating National Women’s Month (NWM) this March.

During the DOF NWM launch on Monday, Finance Assistant Secretary Ma. Teresa Habitan highlighted the agency’s initiatives to empower women and ensure that internal policies were inclusive. “We have gone a long way from the time the DOF looked most like a man’s world. Many more women have become assistant secretaries and undersecretaries.”

Habitan added, “We now have a lactation room – lactating moms no longer have to hide in a closet or a bathroom stall to pump milk. Our annual physical exam now includes a Pap smear and ultrasound. A marriage certificate is no longer required to claim maternity leave.”

“In our history, there is no lack of women leaders we can look up to and follow. In my personal history, I have found so many women role models even closer here at the DOF. So take a look around at your friends and colleagues and appreciate them for the work they do and the lives they lead.”

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03/03/2021

02/03/2021

CREATE TO BRING JOBS AND INVESTMENTS

Philippine Economic Zone Authority (PEZA) Director-General Charito Plaza was quoted as saying that investors have signalled interest in investing in the country once the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill is signed into law.

CREATE, which proposes to reduce the corporate income tax rate and modernize the tax incentive system to attract investments and create jobs, was approved by both chambers of Congress earlier this year.

LEARN about CREATE: tinyurl.com/CREATEPHRecovery

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01/03/2021

Fiscal policy, such as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, can promote a system that rewards innovation and the creation of new knowledge.

Under CREATE, enterprises can avail of 100% additional tax deduction on research and development (R&D) expenses to incentivize the creation of new knowledge and products. This incentive is on top of lowering the corporate income tax (CIT) rate from 30 to 20 percent for micro, small, and medium enterprises (MSMEs), and 25 percent for all other businesses.

Finance Secretary Carlos G. Dominguez recently lauded the Batangas State University (BatStateU) for its “visionary leadership” in venturing to establish the Knowledge, Innovation, and Science Technology Park (KIST) inside its campus, and thanked the Embassy of India for supporting this initiative.

“We need more forward-looking innovative projects such as the KIST Park. We are moving towards an economy where knowledge is the main driver of growth. The next generation must be trained in cutting edge science and technology to support our aspirations for a truly inclusive and competitive economy,” Dominguez said during the event.

READ MORE: https://www.dof.gov.ph/create-to-spur-knowledge-based-industries-to-do-business-in-the-philippines-says-dominguez/

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25/02/2021

BIR Tax Deadline

25 Thursday
• SUBMISSION of Quarterly Summary List of Sales/Purchases/Importations by a VAT Taxpayers - Non-eFPS Filers – Fiscal Quarter ending January 31, 2021
• SUBMISSION of Sworn Statements of the Manufacturer’s or Importer's Volume of Sales of each particular brand of Alcohol, To***co Products & Sweetened Beverage Products – Fiscal Quarter ending January 31, 2021
• e-FILING/FILING & e-PAYMENT/PAYMENT of 2550Q (Quarterly Value-Added Tax Return) - eFPS & Non-eFPS Filers – Fiscal Quarter ending January 31, 2021
• e-FILING/FILING & e-PAYMENT/PAYMENT of 2551Q (Quarterly Percentage Tax Return) - eFPS & Non-eFPS Filers – Fiscal Quarter ending January 31, 2021
• e-FILING & e-PAYMENT of 2550M (Monthly Value-Added Tax Declaration) - eFPS Filers under Group A – Month of January 2021
• e-PAYMENT of 2550M (Monthly Value-Added Tax Declaration) - eFPS Filers under Group E, D, C & B – Month of January 2021

"Deadlines which fall on Weekends, Holidays and Non-Working days shall automatically be moved to the next working day."

21/02/2021

DOF fully supports legislation banning single-use plastics

During the 2nd Nationally Determined Contribution (NDC) multi-stakeholder consultation hosted by the Climate Change Commission (CCC), Finance Secretary and CCC Chairperson-Designate Carlos G. Dominguez said, “as the Chair-Designate of the Climate Change Commission, I fully support the enactment of legislature banning single-use plastic.”

“This will be a crucial component of effective solid waste management and climate crisis action. Once passed, every single Filipino, by not consuming plastic, is contributing to help save our environment,” Dominguez added.

Watch his full speech here: https://www.facebook.com/DOFPH/videos/450141176031645

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21/02/2021

“Pension reform to ensure fiscal stability, sustained support to military, other uniformed personnel” -- BTr

Reforming the pension system of our military and uniformed personnel (MUP) is long overdue, and has acquired greater urgency in view of the growing fiscal burden and sustainability risks it poses, National Treasurer Rosalia de Leon told senators.

During a public hearing of the Senate Committee on National Defense and Security, Peace, Unification and Reconciliation on February 2, De Leon echoed the full support of the Department of Finance (DOF) for the proposal to overhaul the MUP pension system.

The National Treasurer said reforming the MUP will ensure the government’s fiscal stability while guaranteeing the continuous provision of fair retirement benefits for the nation’s primary defenders.

Read more: https://www.dof.gov.ph/btr-pension-reform-to-ensure-fiscal-stability-sustained-support-to-military-other-uniformed-personnel/

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