Business and Economics

FAST FACTS: One Person Corporation in the Philippines

Roadmap The concept of a corporation with a single stockholder was introduced by Republic Act No. 11232, otherwise known as the Revised Corporation Code of the Philippines, which took effect in 23 February. The Securities and Exchange Commission (SEC) has released in 15 March draft guidelines listing documentary requirements for putting up a one-person corporation …

Accounting for crypto-assets using blockchain technology clarified in PH

Cryptographic assets are gaining significant amount of interest recently, given their rapid increases in value and volatility. This kind of assets experienced a breakout year in 2017. Currently, there are no accounting standards that specifically address crypto-assets. However, the Australian Accounting Standards Board (AASB) has submitted a discussion paper on “digital currencies” to the International …

FAST FACTS: The Revised Corporation Code

Republic Act 11232 was signed into law, amending the more than 38-year old Corporation Code of the Philippines.  VoicePoints would like to give you a brief summary of amendments. What’s New Perpetual corporate term for existing and future corporations Prior to the amendment, corporations were only initially granted a term of 50 years, subject to …

Renowned Filipino CPA Washington SyCip dies at 96

Filipino-Chinese tycoon and philanthropist Washington SyCip died on Saturday evening, according to the family’s closest friends. He was 96. Businessman Manuel V Pangilinan and former Finance Secretary Cesar V Purisima confirmed this information. According to Purisima, SyCip passed away en route to New York. His name has become synonymous with SGV — SyCip, Gorres, Velayo  & Co. …