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In the Philippines, a government-owned and controlled corporation (GOCC), sometimes with an "and/or", [1] is a state-owned enterprise that conducts both commercial and non-commercial activity. Examples of the latter would be the Government Service Insurance System (GSIS), a social security system for government employees.
Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...
Any foreign (i.e., non-U.S.) corporation meeting either the income test or the asset test is a PFIC with respect to each shareholder when the test is met. [4] PFIC status applies separately for each U.S. person owning shares, and also separately with respect to shares acquired at different times.
Aside from enforcing the country’s corporation and securities laws, the SEC acts either as a lead or as a support agency in administering and enforcing the following related laws: Ease of Doing Business and Efficient Government Service Delivery Act of 2018 (RA No.11032) Anti-Money Laundering Act of 2001 (RA No.10365), as amended
By convention, the risk-free interest rate is the yield that the investor can obtain by acquiring financial instruments with no default risk. In practice, finance professionals and academics classify government bonds denominated in the domestic currency of the issuing government as risk free because of the extremely low probability that the government will default on its own debt.
In May 2016, GT Capital Holdings Inc. acquired 15.6 percent of MPIC, which will, in turn, buy control over GT Capital's Global Business Power Corporation in a deal worth PHP 29.89 billion. GT Capital acquired 3.6 billion new common shares in MPIC at PHP 6.10 per share amounting to a stake of 11.4 percent on an expanded capital base for a total ...
The Philippine Institute of Certified Public Accountants (PICPA) is the national professional accountancy body of the Philippines. Explorers with an accounting background first formed the PICPA in November 1929. [2] The PICPA focuses on four areas of practice for a CPA: Public Practice, Commerce and Industry, Education, and Government. [2]
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