[MAY 2024]

LEGAL UPDATES

SUMMARY:
AGENCY NO. OF
ISSUANCE SUBJECT MATTER
Bureau of Immigration (BI) No relevant issuance/s as of May 2024
Department of Justice (DOJ) No relevant issuance/s as of May 2024
Philippine Competition No relevant issuance/s as of May 2024
Commission (PCC)
Department of Labor and No relevant issuance/s as of May 2024
Employment (DOLE – NLRC)
Department of Trade and Industry No relevant issuance/s as of May 2024
(DTI)
Intellectual Property Office of the No relevant issuance/s as of May 2024
Philippines (IPOPHIL)
National Privacy Commission No relevant issuance/s as of May 2024
(NPC)
Office of the Court Administrator No relevant issuance/s as of May 2024
(OCA – SC)
Philippine Economic Zone No relevant issuance/s as of May 2024
Authority
(PEZA – BOI)
Bangko Sentral ng Pilipinas (BSP MC- 2024-016 Guidelines on the Electronic
– DOF) Submission of the Money
Laundering (ML)/Terrorist
Financing (TF)/Proliferation
Financing (PF) Risk Event Report
(RER)
Bureau of Customs (BOC)
Bureau of Internal Revenue (BIR) RMO No. 16- Amends Revenue Memorandum
2024 Order No. 19-2006 regarding the
guidelines and procedures for the
processing of pending claims
for tax credit/refund of Excise
Tax paid on petroleum products
RMC No. 17- Amends certain provisions of
2024 Revenue Memorandum Order
No. 6-2023
RMC No. 60- Provides clarifications and
2024 guidance on Section 6 of RR No.
4-2024 on the Repeal of Section
34 (K) of the NIRC of 1997, as
amended
RMC No. 61- Notifies the availability of the
2024 Alphalist Data Entry and
Validation Module (Version 7.3)
and its updated File Structures
and Standard File Naming
Convention
 AGENCY NO. OF
ISSUANCE SUBJECT MATTER
RMC No. 62- Announces the availability of the
2024 "Taxpayer Classification Inquiry"
functionality in the Online
Registration and Update System
RMC No. 63- Announces the availability of BIR
2024 Form No. 1702-MX January 2018
(ENCS) in the Electronic Filing
and Payment System (eFPS)
Department of Human Settlements MC No. 2023-006 Guidelines for the Conduct of
and Urban Development (DHSUD) Elections for the Board of
Homeowner’s Associations

MC No. 2023-007 Guidelines in the Conduct of

Conciliation Proceedings

Securities and Exchange SEC-OGC Voting by Remote

Commission (SEC) Opinion No. 24- Communication Based on a
12 Board Resolution

Republic Act No. 11996 – The Eddie Garcia Law An Act Protecting the Welfare of
Workers in the Movie and
Television Industry

BUREAU OF INTERNAL REVENUE (BIR)

Issuing Agency Bureau of Internal Revenue

Issuance No. RMO No. 16-2024

Issuance Name Amends Revenue Memorandum Order No. 19-2006

regarding the guidelines and procedures for the processing
of pending claims for tax credit/refund of excise tax paid on
petroleum products

Date of Issuance 03 May 2024

Summary/Salient This RMO amends RMO No. 19-2006 on processing pending

Provisions claims for tax credit/refund of excise tax paid on petroleum
products. Applications with complete requirements filed within
 the specified period shall be received by the authorized
processing office. The processing date is 180 days from the
complete filing date.

In case a Delinquency Verification Certificate (DVC) shows

delinquent accounts other than excise tax, the processing is
suspended until the account is settled and a new DVC without
tax liabilities is presented. Claims with the BIR are processed by
the Accounting and Finance divisions based on the approved
report and contents of the docket, while those with the Bureau of
Customs shall evaluate the BIR report and the grant of tax
credit/refund within the 180-day timeframe.

Deadline for compliance N/A

(if applicable)

Link to the full issuance RMO No. 16-2024, Annex A-1, Annex A-2, Annex B
Issuing Agency Bureau of Internal Revenue

Issuance No. RMC No. 60-2024

Issuance Name Provides clarifications and guidance on Section 6 of RR No.

4-2024 on the Repeal of Section 34 (K) of the NIRC of 1997,
as amended

Date of Issuance 09 May 2024

Summary/Salient Income payments can now be deducted from gross income,

Provisions even if no tax was withheld, provided these are necessary,
ordinary, and duly substantiated expenses related to the
taxpayer's registered business.

For ongoing audits covering taxable period before January 1,

2024, expenses subject to withholding tax shall be allowed as
deductions from gross income only if the corresponding tax has
been paid before the audit or submission of the audit report to
the reviewing office. If the taxpayer fails to withhold the tax and
does not pay it before audit submission to the reviewing office,
the Revenue Officers will recommend an assessment notice for
both income and withholding tax.

Audits submitted to the Reviewing Office will follow similar

guidelines, particularly:

a. If taxes are paid, follow the same rules as ongoing audits

covering periods before January 1, 2024; and

b. For assessed cases, use the old Section 34 (K) requirements;

issue assessments for both Income Tax and Withholding Tax.

From 01 January 2024, onwards, expenses/income payments

subject to withholding tax can be deducted from gross income
for tax computation purposes, even without withholding tax,
provided other deductibility requirements have been complied
with. It must be noted that the taxpayer remains liable for the
corresponding withholding tax.
Deadline for compliance N/A
(if applicable)

Link to the full issuance RMC No. 60-2024

Issuing Agency Bureau of Internal Revenue

Issuance No. RMC No. 62-2024

Issuance Name Announces the availability of the "Taxpayer Classification

Inquiry" functionality in the Online Registration and Update
System

Date of Issuance 16 May 2024

Summary/Salient Taxpayer-applicants may now view and inquire about their

Provisions Classification under the Ease of Paying Taxes Act (EOPT Act) by
accessing BIR’s Online Registration and Update System
(ORUS) through https://orus.bir.gov.ph/home.
tps://orus.bir.gov.ph/home.

Taxpayer-applicants shall be required to input the following

details:
I. Registered Name or Trade Name (as shown on
the Certificate of Registration - BIR Form No.
2303)
II. TIN and Branch Code

Taxpayers may be classified as follows:

 I. Micro Taxpayer - a taxpayer whose gross sales
for a taxable year is less than Three Million Pesos
(₱ 3,000,000.00)
II. Small Taxpayer - a taxpayer whose gross sales
for a taxable year is Three Million Pesos (₱
3,000,000.00) to less than Twenty Million Pesos
(₱ 20,000,000.00)
III. Medium Taxpayer - a taxpayer whose gross sales
for a taxable year is Twenty Million Pesos (₱
20,000,000.00) to less than One Billion Pesos (₱
1,000,000,000.00)
IV. Large Taxpayer - a taxpayer whose gross sales
for a taxable year is One Billion Pesos (₱
1,000,000,000.00) and above

In case of disagreement on the initial Taxpayer Classification,

the taxpayer may send a letter to the Revenue District Office
(RDO) where he or she is registered and inform the said RDO of
the correct Taxpayer Classification with proof of claim for the
correct classification [i.e. Taxable Year (TY) 2022 Income Tax
Return or TY 2022 Income Statement showing the Gross Sales,
etc.].

Deadline for compliance N/A

(if applicable)

Link to the full issuance RMC No. 62-2024

Issuing Agency Bureau of Internal Revenue

Issuance No. RMC No. 63-2024

Issuance Name Announces the availability of BIR Form No. 1702-MX

January 2018 (ENCS) in the Electronic Filing and Payment
System (eFPS)

Date of Issuance 27 May 2024

Summary/Salient This Circular announces that BIR Form No. 1702-MX (Annual
Provisions Income Tax Return for Corporation, Partnership, and Other Non-
Individuals with Mixed Income Subject to Multiple Income Tax
Rates with Income Subject to Special/Preferential Rate) January
2018 (ENCS) is now available in the Electronic Filing and
Payment System (eFPS). All mandated eFPS taxpayers must
use the eFPS facility to file and pay any due tax, effective
immediately.

Deadline for compliance This must be filed electronically by the 15th day of the 4th month
(if applicable) after the close of the taxpayer's taxable year.

Effective immediately.

Link to the full issuance RMC No. 63-2024

Issuing Bureau of Internal Revenue

Agency

Issuance RMC No. 64-2024

No.

Issuance Clarification on the Ante-dating of Deeds of Sale Involving Real Properties

Name

Date of 28 May 2024

Issuance

Summary/ This Circular clarifies the ante-dating of deeds of sale involving real properties.
Salient
Provisions
In case of delay in the presentation of notarized deeds of sale or other transfer
documents, the relevant laws and regulations on the kind of tax, rate of tax,
zonal or fair market values, effective at the date of notarization shall be applied,
but the corresponding penalties and interest for late filing of return and
payment of applicable taxes shall be imposed.

However, in cases where it is found that the deeds of sale or other transfer
documents are antedated, the laws and regulations effective at the time of
presentation of the deeds of sale or other transfer documents shall be applied.

Unless the taxpayer proves otherwise, a deed of sale or transfer document

may be considered as ante-dated in the following instances:

1. Documents dated before the effectivity of the Capital Gains Tax law;

2. Documents dated before the effectivity of the regulations imposing the

Creditable Withholding Tax on sales or transfers of real property; and

3. Documents dated before the effectivity of the current zonal values as

reflected in the latest Revised Schedules of Zonal Values of Real Properties
within the jurisdiction of the concerned Revenue District Office.

In order to show that there is no ante-dating of public instruments, a taxpayer

may submit supporting documents such as, but are not limited to, cancelled
checks, invoices, contracts to sell, or certifications from the appropriate Clerk of
Court or Executive Judge, or the National Archives of the Philippines.

Deadline
for
complianc
e (if
applicable)

Link to the https://www.bir.gov.ph/images/bir_files/internal_communications_2/

full RMCs/2024%20RMCs/RMC%20No.%2064-2024_copy.pdf
issuance
 SECURITIES AND EXCHANGE COMMISSION (SEC)

Issuance No. SEC-OGC Opinion No. 24-12

Issuance Name Voting by Remote Communication Based on a Board
Resolution
Date of Issuance 08 May 2024
Date of Effectivity N/A
Summary / Salient A Corporation may conduct both the meeting and the election of
Provisions its board of directors through remote communication, even though
its By-Laws only provide for manual voting system, upon the
issuance of a board resolution authorizing the same, subject to the
condition that such resolution shall only be applicable for that
particular meeting/ election and that internal procedures or
controls1 are adopted for the conduct of the same.

The SEC, however, still highly encourages Corporations to amend

their by-laws, if attendance and voting via remote communication
is not yet specifically provided therein, to allow corporations to be
more adaptive to technological changes and to ensure that the
right of stockholders/members to participate in meetings and to
vote on matters presented therein are recognized and protected.
Deadline for N/A
compliance (if
applicable)
Link to the full https://www.sec.gov.ph/opinion-2024/opinion-no-24-12re-voting-
issuance by-remote-communication-based-on-a-board-resolution/
#gsc.tab=0

SECURITIES AND EXCHANGE COMMISSION (SEC)

Issuance No. Notice Dated 30 May2024

Issuance Name FREQUENTLY ASKED QUESTIONS ON THE NOTICE ON
REQUIREMENT TO ATTEND ORGANIZED TRAINING
SESSIONS BY THE ANTI-MONEY LAUNDERING COUNCIL
(AMLC) FOR 2024

Date of Issuance 30 May 2024

Date of Effectivity N/A

1
SEC MC No. 6 series of 2020.
Summary / Salient The SEC issued a clarification that pursuant to Section 4 of the
Provisions 2018 Implementing Rules and Regulations of Republic Act No.
9160 or the 2018 AMLA IRR and Chapter 11 Section 11.1 of SEC
Memorandum Circular No. 16, series of 2018, “Covered Persons”
shall provide all their responsible directors/ officers and personnel
with efficient and effective training and continuing education
programs to enable them to fully comply with all their obligations
under the AMLA.

The following SEC covered persons with secondary license are

required to comply:

a. Securities brokers and dealers;

b. Investment houses;
c. Underwriters of securities;
d. Government securities eligible dealers;
e. Investment companies/Mutual Fund;
f. Investment company advisers;
g. Mutual fund distributors;
h. REIT fund managers;
i. All financing companies; and
j. All lending companies

At a minimum, the directors/officers directly involved in the

oversight of the Company’s AMLA compliance and the AML
compliance officers /Associated Persons are required to attend the
AMLC training sessions.

To access the AMLC trainings, interested participants must create

an account in the AMLC Learning Management System
(LMS) and enroll in the available courses.

Deadline for Required persons must submit the certificate of participation in the
compliance (if relevant 2024 AMLC training sessions by 15 September 2024.
applicable)
Link to the full https://www.sec.gov.ph/amf-notices/frequently-asked-questions-on-
issuance the-requirement-to-attend-organized-training-sessions-by-the-anti-
money-laundering-council-amlc-for-2024/#gsc.tab=0

REPUBLIC ACT NO. 11996 – EDDIE GARCIA LAW

Full Title An Act Protecting the Welfare of Workers in the Movie and
Television Industry
Short Title Eddie Garcia Law
 Link to the full https://www.officialgazette.gov.ph/downloads/2024/05may/20240524-
issuance RA-11996-FRM.pdf
Provisions
Coverage (Sec. 3) All workers engaged in the movie and television industry regardless
of functions, roles, positions, or status.
Definition of Terms Worker – employee hired by the employer or independent contractor
(Sec. 4) engaged by the principal to render services for the movie and
television industry
Protection of Workers The worker shall be protected by their employers or principal in the
(Sec. 5) workplace.

The employers or principal shall implement the hours of work,

wages, other wage-related benefits, social security, and welfare
benefits, basic necessity, health and safety, working conditions, and
standards, and insurance as provided in this Act, the Labor Code, RA
110582, and other applicable laws
Agreement or The worker and the employer/principal shall execute an agreement
Employment Contract or employment contract (“agreement”):
(Sec. 6) and Content  In a language/dialect understood by both parties
(Sec. 7)  Before the commencement of service

Content of agreement:
1. Job position and status;
2. Job description;
3. Period of employment or engagement;
4. Details of compensation and other workers’ benefits including
rate, method, and schedule of payment which shall be paid at
intervals not exceeding sixteen (16) days, unless otherwise
agreed upon by the parties;
5. Authorized deductions, if any;
6. Hours of work; and
7. Grievance mechanism.
Non-Discrimination No agreement or employment contract shall discriminate against a
Against Workers worker who has contracts or projects with other production outfits
(Sec. 8)  Exception: Exclusivity is specified.

Nor shall any person perform any act involving preference based on
race, color, descent, national or ethnic origin, or religion, which has
the purpose or effect of nullifying the recognition, enjoyment, or
exercise on an equal footing of any human right or fundamental
freedom
 Provided, that exclusivity shall be reasonable in accordance
with law
Hours of Work (Sec. The hours of work shall be based on the terms and conditions set in
9) the agreement.

General rule: Eight (8) hours a day

 Can be extended to a maximum of fourteen (14) hours,
2
An Act Strengthening Compliance with Occupational Safety and Health Standards and Providing
Penalties for Violations Thereof
 exclusive of meal periods
 In no case shall the total number of work hours be more than
sixty (60) hours in a week
o Applicable to all workers, except minors (RA 7610)

Exception: For workers requiring special effects makeup (e.g.

prosthetics), the first two (2) hours of the application shall not be
considered as working hours.

Inclusions in Hours of Work

1. Waiting time;
2. Time during which worker is required to work including ocular
work, pre-production, and post-production activities;
3. Travel to and from out-of-town projects – Provided that the
worker cannot gainfully utilize the travel time for one’s won
personal purpose, need, or benefit; and

In case of cancellation of shoot: If cancelled less than eight (8) hours

immediately preceding its approved scheduled, all workers engaged
for the day shall be compensated.
 Exception: Force majeure

Notice of engagement: The employer/principal shall give notice to

the worker of any engagement related to the contracted service not
less than twenty-four (24) hours ahead of schedule.

Rest period: Not less than ten (10) hours between the end of work on
one (1) day and the beginning of work on the next day

Work beyond eight (8) hours: The worker shall be entitled to

overtime pay and night shift differential.
 Exception: If agreement stipulates higher compensation
Transportation Employer/principal shall provide transport service or reimburse
Expenses (Sec. 10) transportation expenses.
 Exception: If already incorporated in the agreement which
stipulates higher compensation
Wages (Sec. 11) Not less than applicable minimum wage in the region where the
worker is hired
 Paid on time, directly to the worker
 No deductions unless otherwise agreed
 Payslip must be provided

Basic Necessities Employer/principal shall provide:

(Sec. 13) 1. Meals;
2. Safe drinking water;
3. Sanitary facilities;
4. Private and separate dressing rooms for men and women;
5. Holding areas with emergency exists;
6. Accommodation if out-of-town; and
7. Safety officers and dedicated vehicles.
Standard of Employer/principal shall:
Treatment (Sec. 14) 1. Not subject or allow workers to be subjected to any kind of
abuse, physical violence or harassment, or any act that
degrades the dignity of the worker;
2. Put in place policies, rules, and regulations to prevent sexual
harassment in the workplace in conformity with the Anti-
Sexual Harassment Act, Safe Spaces Act, and Mental Health
Act.
Health and Safety The employer/principal shall:
(Sec. 15)  Comply with OSH standards; and
 Timely notify DOLE with the production location and
schedule.

In case of violations of OSH, the employer, contract, or subcontractor

shall be jointly and solidarily liable.
Duties and Duties and Responsibilities
Responsibilities of the 1. Comply with laws, rules and regulations, regarding OSH;
Employer or Principal 2. Promote safety and provide safe working conditions;
(Sec. 19) 3. Provide first aid and medical supplies/services;
4. Only engage workers who are appropriately trained;
5. Ensure that all workers who may affected by a potential
hazard are made aware;
6. Ensure that all sets and locations have been properly
assessed for any potential safety and health issues;
7. Ensure that all environmental or structural hazards identified
are property addressed;
8. Ensure that the use of proper safeguards and means of
personal protection includes a careful check of all new and
relocated equipment before it is placed in operation;
9. Require that any necessary safety equipment and protective
devices are being used or work;
10. Provide safety information (emergency numbers of nearest
hospitals, etc.); and
11. Conduct a two (2) to five (5)-minute meeting with all workers
every start of the shooting day to define safety an health
issues.
Right to Self- Workers in the movie and television industry shall have the right to
Organization and form, join, or assist in the formation of a labor organization of their
Collective Bargaining own choosing for purposes of collective bargaining, for mutual aid
(Sec. 20) benefit, and to engage in concerted activities which are not contrary
to law.
Contractor and The provisions of DOLE issuances on contracting and
Subcontractor (Sec. subcontracting shall apply in the movie and television industry.
21)
Rights to The rights of a worker over intellectual property (e.g. performance on
Renumeration (Sec. all movie and television production), shall be protected by the IP
25) Code.
 Nothing herein shall prevent the worker from agreeing to
transfer all intellectual property rights in favor of the
employer/principal, with regard to the work product arising
 from their relationship and/or engagement.

Worker shall enjoy additional renumeration consistent with Section

206 of the IP Code for every subsequent use or broadcasting of such
performance or IP.
 Exception: Otherwise stipulated in the agreement
Effect on Existing The minimum benefits provided in this Act shall without prejudice to
Company Policies any existing company policy, contract, or CBA providing better terms
and Contracts or and conditions.
CBAs (Sec. 27)
Nothing in this Act shall diminish benefits under existing laws
currently enjoyed by the worker.

BANGKO SENTRAL NG PILIPINAS (BSP)

Issuing Agency Bangko Sentral ng Pilipinas

Issuance No. Circular Letter No. CL-2024-025

Issuance Name Electronic submission of applications and requests to the Bangko Sentral
ng Pilipinas – International Operations Department (BSP-IOD)

Date of Issuance 24 May 2024

Summary/Salient As provided in the Manual of Regulations on Foreign Exchange

Provisions Transactions, all applications and requests regarding FX transactions
must be submitted electronically to BSP-IOD using the following email
addresses:

For public sector loans/borrowings: iod-iogl@bsp.gov.ph

For private sector loans/borrowings: iod_loans@bsp.gov.ph
For inward foreign investments: iod_investments@bsp.gov.ph
For other requests: Contact the Head of BSP-IOD at iod-
ipds@bsp.gov.ph

Deadline for compliance N/A

(if applicable)

Link to the full issuance CL-2024-025

Issuing Agency Bangko Sentral ng Pilipinas

Issuance No. Memorandum No. M-2024-015

Issuance Name Guidelines on Pricing of Electronic Payments

Date of Issuance 24 May 2024

Summary/Salient Pursuant to BSP Circulars No. 980 and No. 1160, the following
Provisions guidelines on pricing of electronic payments (e-payments) must be
observed:

1. Pricing Governance:
- Policy Adoption
- Pricing Policies, Processes, and Procedures
- Monitoring and Management Reporting
- Periodic Review
- Feedback Mechanism

2. Reasonable and Fair Market-Based Pricing

- Fair Pricing
- Non-Discriminatory Pricing
- Cost Recovery

3. Responsible Pricing:
- Cost Efficiency
- Sustainability
- Inclusive Pricing

4. Transparent Pricing:
- Fee Disclosure to End-Users
- Marketing
- Reporting
- BSP Survey on Pricing Practices

These guidelines ensure transparent, fair, and competitive pricing for e-

payment services.

Deadline for compliance N/A

(if applicable)

Link to the full issuance M-2024-015

Issuing Agency Bangko Sentral ng Pilipinas

Issuance No. Memorandum No. M-2024-016

Issuance Name Guidelines on the Electronic Submission of the Money Laundering

(ML)/Terrorist Financing (TF)/Proliferation Financing (PF) Risk Event
Report (RER)

Date of Issuance 27 May 2024

Summary/Salient Bangko Sentral Supervised Financial Institutions (BSFIs), as per Circular

Provisions No. 1193 dated April 29, 2024, must adhere to the following guidelines for
electronic submission of the ML/TF/PF RER:

1) Submit the required RER within the prescribed timeline

2) Use the prescribed RER Data Entry Template downloadable from
thttps://www.bsp.gov.ph/ses/reporting_templates
3) Submit the RER DET along with the control prooflist within 24 hours of
knowledge of any significant ML/TF/PF risk event to fsid-rer@bsp.gov.ph
following the format: <RER>_<BSFI Acronym>_<Report Status>_<Date
of Report in DD MMM YYY>
4) If unable to transmit electronically, submit the DET and control prooflist
via encrypted portable storage device through messengerial or postal
services.
5) Maintain compliance with existing BSP reporting standards, ensuring
files adhere to prescribed forms.
6) Direct queries regarding the ML/TF/PF RER and related regulations to
fsid-rer@bsp.gov.ph with a specific email subject format.
7) If the ML/TF/PF risk event is also reportable under Event-Driven
Reporting and Notification (EDRN), copy furnish the Financial System
Integrity Department (FSID) of the BSP via fsid-rer@bsp.gov.ph upon
submission of the EDRN.

Deadline for compliance N/A

(if applicable)

Link to the full issuance M-2024-016

BUREAU OF CUSTOMS

Issuing Agency Bureau of Customs

Issuance No. Customs Administrative Order (CAO) No. 02-2024

Issuance Name Customs Dues, Fees, and Charges
Date of Issuance 03 May 2024
Date of Effectivity 10 June 2024
Summary / Salient The Bureau of Customs issued CAO No. 02-2024 to provide
Provisions uniformity in the rates of all service fees, dues, and charges
collected by the Bureau of Customs (BOC) from the shipping lines,
airlines, air express operators, importers, exporters, Customs
brokers, freight forwarders, consolidators, de-consolidators,
logistics providers, transhippers, operators of Customs bonded
warehouses, free zone locators, registered enterprises, third party
solutions providers, and all other parties served by the BOC.
Deadline for
compliance (if
applicable)
Link to the full https://customs.gov.ph/wp-content/uploads/2024/05/2024CAO-02-
issuance 2024_1.pdf