President Rodrigo Duterte MANILA - President Rodrigo Duterte has signed three laws granting and renewing the franchise of telecommunication companies. Duterte signed Republic Act 11757 and RA 11758 renewing for another 25 years the franchise granted to Binan-based Independent Telephone Company, Inc. and Sultan Kudarat Telephone System Inc., respectively. He also approved RA 11759 granting Derecho Telecommunications, Inc. a franchise to construct, install, establish, operate, and maintain telecommunications systems throughout the Philippines. All laws require the grantees to secure from the National Telecommunications Commission (NTC) a certificate of public convenience and necessity or the appropriate permits and licenses for the construction, installation, and operation of its telecommunications systems or facilities. "In issuing the certificate, the NTC shall have the power to regulate and impose such conditions relative to the construction, operation, maintenance, or service le
President Rodrigo Roa Duterte (File photo) MANILA - President Rodrigo Roa Duterte has signed laws extending the franchises granted to Smart Broadband, Inc. and five other telecommunication firms for another 25 years. Duterte signed all six laws on April 8, according to copies released to Palace reporters on Monday. Under Republic Act 11678, Meridian Telekoms, Inc., presently known as Smart Broadband, Inc. will be allowed to "construct, install, establish, maintain, lease, and operate wire and/or wireless telecommunications systems throughout the Philippines." RA 11678 mandated Smart Broadband, Inc. to secure from the National Telecommunications Commission (NTC) a Certificate of Public Convenience and Necessity or the appropriate permits and licenses. Smart Broadband, Inc. was also mandated not to "sell, lease, transfer, grant the usufruct of, nor assign this franchise or the rights and privileges acquired thereunder to any person, firm, company, corporation, or other com
MANILA - President Rodrigo Duterte has signed a law reducing the preferential tax rate of 10 percent to 1 percent imposed on proprietary educational institutions. Duterte signed Republic Act (RA) 11635 on Dec. 10, 2021, amending Section 27 (B) of the National Internal Revenue Code of 1997. "Hospitals which are nonprofit and proprietary educational institutions shall pay a tax of 10 percent on their taxable income except those covered by Subsection (D) hereof: Provided, that beginning July 1, 2020 until June 30, 2023, the tax rate herein imposed shall be 1 percent," the law, released on Thursday, read. Proprietary education institutions refer to any private school maintained and administered by private individuals or groups with an issued permit to operate from the Department of Education (DepEd) or the Commission on Higher Education (CHED), or the Technical Education and Skills Development Authority (TESDA), as the case may be, based on existing laws and regulations. House of