Business

Liquidation of companies: tax treatment of the transfer of assets to owners

[ad_1] This pandemic has brought many challenges to many companies. We are already seeing companies closing stores, some permanently. Others are undertaking corporate restructuring programs to expand their resources and maintain or improve their competitiveness. Closing of business or undertaking restructuring activities may eventually result in dissolution or liquidation. When …

Read More »

More negative bank loans due to pandemic: economist

[ad_1] Nicholas Mapa, Senior Economist at ING Bank Manila MANILA – The bank credit contraction, which registered its first in more than a decade, is expected to continue in the coming months due to the pandemic. Citing Bangko Sentral ng Pilipinas (BSP) data released on Wednesday, ING Bank Manila senior …

Read More »

Senate, Chamber approves Create bill

[ad_1] Both the Senate and the House of Representatives ratified on Wednesday, February 3, 2021, the report of the bicameral conference committee on the proposed Law on Corporate Recovery and Tax Incentives for Companies (Create). The final version of the bill, which modifies provisions of the National Internal Revenue Code, …

Read More »