Lim & Yutatco-Sze Law Firm

Lim & Yutatco-Sze Law Firm The Lim & Yutatco-Sze Law Firm (LYS) is a full-service law office established in 2015. It is engaged

Until 31 December 2026 only.This suspension is directed solely at the per month of delay penalty component of MC 06-2024...
13/05/2026

Until 31 December 2026 only.

This suspension is directed solely at the per month of delay penalty component of MC 06-2024. Without this suspension, one person corporations and domestic stock or non-stock corporations incur an additional PhP1,000 penalty for every month of continuing violation, on top of the base fine. The base fine for late or non-filing of Annual Financial Statement (AFS) and General Information Sheet (GIS) shall continue to apply in accordance with the prescribed penalty.

04/05/2026
Congratulations to our very own Atty. Hannah Mikaella C. Yamit! Your LYS family is proud of you!
08/01/2026

Congratulations to our very own Atty. Hannah Mikaella C. Yamit!
Your LYS family is proud of you!

Your data, your responsibility. Stay alert! Stay safe!
06/12/2025

Your data, your responsibility. Stay alert! Stay safe!

Innocent until proven guilty.Sources of the photos: The Philippine Star; Newswatch Philippines; Inquirer
26/11/2025

Innocent until proven guilty.

Sources of the photos: The Philippine Star; Newswatch Philippines; Inquirer

Supreme Court Decision on forfeiture of a public official’s ill-gotten wealth.
20/11/2025

Supreme Court Decision on forfeiture of a public official’s ill-gotten wealth.

The has ruled that wealth acquired by a public officer during their time in office that clearly exceeds their lawful income is presumed unlawfully acquired and may be forfeited, even if registered under the names of other individuals.

In a Decision written by Associate Justice Japar B. Dimaampao, the SC’s Third Division upheld the forfeiture of properties, bank deposits, and investment accounts in the name of retired Lieutenant General Jacinto C. Ligot (General Ligot), as well as assets traced to him but registered under his wife, children, and relatives.

The Ombudsman conducted a lifestyle investigation on General Ligot—who served in the Armed Forces of the Philippines from 1970 until his retirement in 2004, and was a commissioned comptroller during the relevant period—to determine whether the properties he acquired during active service exceeded his salary and other lawful income.

Its probe into General Ligot’s declared assets in his Statements of Assets, Liabilities, and Net Worth from 1982 to 2003, which did not reflect the actual properties under his name and those of his close family members, led to a petition for forfeiture filed against him before the Sandiganbayan. Also named in the petition were his wife, their children, and his sister and brother-in-law, who were allegedly used as fronts to conceal his assets.

The Sandiganbayan ordered the forfeiture of the properties worth PHP 102 million as well as deposits and investment funds amounting to PHP 53 million after finding that the same were unlawfully acquired.

The SC upheld the Sandiganbayan’s ruling, noting that General Ligot’s wife and children did not have independent income sources but still owned properties and held significant bank and investment accounts under their names.

Regarding the condominiums, even though they were titled in his sister’s name, the amortizations were paid by General Ligot. The condominium listed under his brother-in-law’s name was initially bought by General Ligot’s wife, who lacked her own income.

The SC held that these circumstances indicate that General Ligot was the true owner, even if the legal titles were in other people’s names.

Under Republic Act No. 1379, properties of public officers are presumed to be illegally acquired when they are manifestly out of proportion to their lawful income.

This presumption applies not only to properties under the public officer’s name but also to those hidden or transferred to others, as long as true ownership can be traced to the public officer.

The SC emphasized that registration under another person’s name does not prevent forfeiture when true ownership can be traced to the public officer.

Read the full text of the Press Release at https://sc.judiciary.gov.ph/?p=155660.

Read the full text of the Decision at https://sc.judiciary.gov.ph/?p=155651.

Copying of this content is subject to the SC PIO’s Credit Attribution Policy: https://sc.judiciary.gov.ph/credit-attribution-policy/.

Consumers still have the right to choose to pay in cash.
24/10/2025

Consumers still have the right to choose to pay in cash.

📢 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲 𝐨𝐧 𝐭𝐡𝐞 𝐀𝐜𝐜𝐞𝐩𝐭𝐚𝐧𝐜𝐞 𝐨𝐟 𝐂𝐚𝐬𝐡 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬

The Bangko Sentral ng Pilipinas (BSP) and the Department of Trade and Industry (DTI) remind all merchants and establishments that cash remains legal tender and must be accepted without discrimination.

While digital payments are encouraged for convenience, consumers still have the right to choose to pay in cash.

Penned by Senior Associate Justice Marvic M.V.F. Leonen: “Psychological incapacity may manifest long after the solemniza...
03/07/2025

Penned by Senior Associate Justice Marvic M.V.F. Leonen:

“Psychological incapacity may manifest long after the solemnization of a marriage. A spouse who previously seemed capable of performing his marital obligations may prove to be incapable of doing so, and the marriage may be voided so long as the incapacity is shown to be due to a genuine psychic cause.”

G.R. No. 263627
Boado vs. Galvez-Boado
Promulgated on November 04, 2024

Highlights of the Real Property Tax Amnesty:1. The real property tax amnesty can be availed of within 2 years from its e...
28/01/2025

Highlights of the Real Property Tax Amnesty:
1. The real property tax amnesty can be availed of within 2 years from its effectivity, or until 09 July 2026.
2. The real property tax amnesty covers penalties, surcharges, and interests from all unpaid real property taxes, including Special Education Fund, idle land tax, and other special levy taxes, prior to the date this amnesty.
3. The relief may be availed of by a delinquent property owner with the option of one-time payment or installment payment of the delinquent real property taxes within two (2) years from its effectivity.
4. The amnesty does not cover the following: (a) Delinquent real properties which have been disposed of at public auction to satisfy the real property tax delinquencies; (b) Real properties with tax delinquencies which are being paid pursuant to a compromise agreement; and (c) Real properties subject of pending cases in court for real property tax delinquencies.

Note: Republic Act No. 12001 took effect on 10 July 2024.

Address

Parkway Corporate Center, Filinvest City, Alabang
Muntinlupa City
1781

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+63282938254

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