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On July 1, the Capital Markets Efficiency Promotion Act (CMEPA), or Republic Act No. 12214, took effect. As specifically provided in the law, the State recognizes the necessity of a simpler, fairer, more efficient, and regionally competitive passive income tax system to encourage savings, as

President Ferdinand R. Marcos said China “misinterpreted” his comments on Taiwan, during a press briefing in Malacañan Palace on Monday. — PHILIPPINE STAR/NOEL B PABALATEBy Chloe Mari A. Hufana, ReporterPHILIPPINE President Ferdinand R. Marcos, Jr. said on Monday that Beijing has “misinterpreted” his comments saying