25 Business Laws Flashcards
Tax Reform Act of 1997 (Republic Act No. 8424)
-which amended the National Internal Revenue
Code (NRC) is the law that governs the national taxation in the Philippines and gives the Bureau of
Internal Revenue (BIR) the power and duty to assess and collect hational internal revenue taxes in the country
The Local Government Code of the Philippines (Republic Act No. 7160)
is the law governing local
taxation in the Philippines, including the taxation on real properties.
Labor Code of the Philippines (Presidential Decree No. 442)
is the law that governs employment
practices and labor relations in the Philippines.
Intellectual Property Code of the Philippines (R.A. 8293)
is the law that goyerns the registration;
of patents, trademarks and copyright, and the enforcement of intellectual property rights in the
Philippines.
The Corporation Code of the Philippines
is the law that governs the registration and
regulation of corporations in the Philippines.
Civil Law of the Philippines
the civil code of the Philippines includes the laws on
obligations and contracts. It also governs special contracts such as contract of agency and partnerships.
Social Security Act of 1997 (R.A. No. 8282)
Is the law that mandates employers to register their business and their employees with the Social Security System (SSS).
National Health Insurance Act of 1995
the act that mandates employers to
register their business and their employees with the Philippine Health Insurance Corporation or
PhilHealth.
Home Development Mutual Fund Law of 2009
the act that mandates employers
to register their business and their employees with the Pag-Ibig Fund
Food and Drug Administration
the law that governs the
inspection, registration, licensing and monitoring of establishments and health products.
The Philippine Fisheries Code
the law that governs commercial fishing in the
Philippines.
The Animal Welfare Act of 1998
the act that governs the supervision and
regulation of the establishment and operation of all facilities utilized for breeding, maintaining,
keeping, treating, or training of all ‘animals in the Philippines
securities Regulation Code of the Philippines
the law that governs the
registration and regulation of securities, pre-need plans, and securities market professionals- and
the protection of shareholder interests in the Philippines.
Financing Company Act of 1998
the Act that governs the registration and
regulation of financial companies in the Philippines.
Truth in Lending Act
An Act to Require the Disclosure of Finance Charges in
Connection with Extensions of Credit
Consumer Act of the Philippines
The law that protects the interest of
the consumers in the Philippines, promote their general welfare, and establish standards of conduct
for business and industry.
Electronic Commerce Act of 2000
an act providing for the recognition and use of
electronic commercial and non- commercial transactions, penalties for the unlawful use thereof, and
for other purposes.
The Magna Carta for Micro, Small and Medium Enterprises (MSMEs), as amended (RA 9501)
an Act to promote entrepreneurship in the Philippines by strengthening development and assistance
programs to Micro, Small and Medium Scale Enterprises in the country
Barangay Micro Business Enterprises
A law that promotes
the establishment of Barangay Micro Business Enterprises (BMBEs) in the Philippines, and provides
incentives and benefits such as income tax exemption and access to financial, infrastructural,
marketing, and knowledge support from the government.
Insurance Act of the Philippines, as amended
the law that governs the insurance business and
insurance transactions in the Philippines.
Foreign Investments ACt Of 1991
the Law that governs foreign investments in the
Philippines.
Anti-Violence Against Women and Children Act of 2004
a law that protects women
and children in the workplace.
Philippine Cooperative Code of 2008 (R.A. 9520)
the law governing the registration, regulation
and promotion of cooperatives in the Philippines.
Anti-Money Laundering Act of 2001 (RA 9160)
An Act that aims to protect and preserve the
integrity and confidentiality of bank accounts
