Category Archives: Corporate & Investments

Guidelines for Duty-Free Importation of Medicines and Medical Supplies/Equipment to Combat COVID-19

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The Department of Finance (DOF) and the Department of Trade and Industry (DTI) issued Joint Administrative Circular No. 2020-02, providing for guidelines on the operations and incentives of covered enterprises engaged in the manufacture, importation, and distribution of certain products, and for other purposes, pursuant to Republic Act No. 11469, otherwise known as the “Bayanihan to Heal as One Act“. 

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Tax-Free Importation and Other Incentives for Medicine and Medical Supplies/Equipment to Combat COVID-19

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A number of products critical to the fight against the Coronavirus Disease 2019 (COVID-19) are now EXEMPT from the payment of import duties, taxes and fees (see Guidelines). Per the Joint Administrative Circular No. 2020-02 of the Department of Finance (DOF) and the Department of Trade and Industry (DTI), the following are entitled to such exemption: 

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Grace Period for Rents (Residential and MSMEs) during the Enhanced Community Quarantine

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The Department of Trade and Industry (DTI) released the guidelines on the concessions on residential rents, and commercial rents of Micro, Small and Medium Enterprises (MSMEs) that have ceased operations due to the Enhanced Community Quarantine (ECQ). Memorandum Circular No. 20-12 aims to provide Filipinos and businesses, particularly MSMEs, economic relief during the Coronavirus Disease 2019 (COVID-19) public health emergency (see Amended Supplemental Guidelines under DTI Memorandum Circular No. 20-31).

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Guidelines for 30-Day Grace Period on Rents: DTI Memorandum Circular 20-12 (Full Text)

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[On 4 April 2020, the Department of Trade and Industry (DTI) issued the “Guidelines of the Concessions on Residential Rents; Commercial Rents of MSMEs,” pursuant to the Bayanihan to Heal as One Act. See the summary of grace periods for rents or loans; updated quarantine classifications; and the supplemental guidelines per DTI Memorandum Circular No. 20-29.]

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COVID 19 Pondo Para sa Pagbabago at Pag-Asenso Enterprise Rehabilitation Fund (P3-ERF)

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The COVID 19 Pondo Para sa Pagbabago at Pag-Asenso Enterprise Rehabilitation Fund (P3-ERF) is a One Billion Peso (PhP1,000,000,000) special financing program by the Small Business Corporation of the Department of Trade in Industry (DTI) for MSMEs affected by COVID-19. This is part of the social amelioration programs (see list of Social Amelioration Programs) designed to mitigate the socio-economic impact of the Coronavirus Disease 2019 (COVID-19) health crisis during the Enhanced Community Quarantine (ECQ), pursuant to the Bayanihan to Heal as One Act (Republic Act No. 11469) and its Implementing Directives.  

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Recovery Package for Micro and Small Enterprises Engaged in Agriculture and Fisheries Food Production, and other Supply Chain Activities

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The government has rolled out a number of social amelioration programs in order to mitigate the socio-economic impact of the COVID-19 health crisis during the Enhanced Community Quarantine (ECQ), pursuant to the Bayanihan to Heal as One Act (Republic Act No. 11469) and its Implementing Directives. Among the social amelioration programs (see List of Social Amelioration Programs) provided in Joint Memorandum Circular No. 1 is the Recovery Package for Micro and Small Enterprises Engaged in Agriculture and Fisheries Food Production, and other Supply Chain Activities in Accordance with the Agripreneurship Development Fund/Program of the ACPC. 

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Moratorium on Loan Payments of Small Business Corporation Borrowers under Community Quarantine

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The Pondo sa Pagbabago at Pag-Asenso (P3) is a financing program established by Small Business Corporation for micro enterprises with an asset not exceeding Three Million Pesos (PhP 3,000,000.00) at not more than 2.5 percent per month all-in interest rate and service charges. One of the social amelioration programs (see List of Social Amelioration Programs) is the moratorium on loan payments of Small Business Corporation borrowers. This is contained in Joint Memorandum Circular No. 1, issued pursuant to the Bayanihan to Heal as One Act (Republic Act No. 11469) and its Implementing Directives, designed to mitigate the socio-economic impact of the Coronavirus Disease 2019 (COVID-19) health crisis during the Enhanced Community Quarantine.

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Price Freeze During COVID-19 Emergency: Joint Memorandum Circular No. 2020-01

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[In a Joint Memorandum Circular, the Department of Trade and Industry (DTI), Department of Agriculture (DA) and Department of Health (DOH) reiterated the automatic price freeze of basic necessities from 16 March 2020 until 15 May 2020, unless sooner lifted by the President, as well as the intensification of monitoring and enforcement to prevent and control overpricing/profiteering, hoarding and cartel. Here is the full text of Joint Memorandum Circular No. 2020-01.]

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Bouncing Checks, Grace Periods and the Enhanced Community Quarantine

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Post-dated checks or PDCs are usually issued to cover future payments in various transactions. PDCs are used for loan and rental payments for residential and commercial units. PDCs are also used for payments in supply agreements and non-loan commercial transactions. Now that the government has imposed a 30-day grace period (see extension of quarantine), what happens to PDCs and the accompanying risk of being charged under the Bouncing Checks Law (Batas Pambasa Blg. 22)?

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Material Information: Concept / Treatment under the Securities Regulation Code of the Philippines

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A material fact or information, as defined in the 2015 SRC Rules, refers to any fact or information that may result in a change in the market price or value of any of the Issuer’s securities, or may potentially affect the investment decision of an investor. Material information shall include, but not be limited to, the following: 

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