ECCP at Work

Developers told to register with AMLC

Real Estate developers and brokers as well as Philippine offshore gaming operators (POGOs) and service providers are required to register with the electronic reporting system of the Anti-Money Laundering Council (AMLC) by mid-March. This as POGOs and their service providers, and real estate developers and brokers are now covered persons under Republic Act (RA) No. 11521, which strengthened the Anti-Money Laundering Act of 2001.

Only 3 out of 10 Metro Manila residents willing to be vaccinated against COVID-19: DILG

According to DILG Undersecretary Epimaco Densing III, a survey conducted by the department showed 20 to 30 percent of the capital region's residents affirmed their consent to be inoculated against the deadly disease. This is much lower than the DILG's target of immunizing at least 80 percent of Metro Manila residents.

PhilHealth to cover treatment costs for adverse reactions to COVID-19 vaccines

The state-run Philippine Health Insurance Corp. will shoulder the treatment costs of those who may experience adverse reactions to COVID-19 vaccines, the Department of Health said Saturday. This is in light of the requirement from suppliers for the national government to set up a compensation fund for COVID-19 vaccine recipients who may suffer serious side effects to avoid liability since their products are still under development.

CREATE-ing opportunities through better fiscal incentives, lower corp taxes

The Corporate Recovery and Tax Incentives for Enterprises, or the CREATE bill, was ratified by Congress earlier this month and is just awaiting the signature of President Rodrigo Duterte before becoming a law. From tax cuts, better business incentives, to COVID-19 response. Here is a breakdown of what CREATE bill is

IATF allows cinemas, game arcades to operate in GCQ areas

The Inter-Agency Task Force has also allowed driving schools; libraries, archives, museums, and cultural centers; meetings, incentives, conferences and exhibitions; theme parks and tourist attractions to resume operations. Social events can also be held in establishments accredited by the Department of Tourism.

Reports vs. piracy, counterfeiting filed with IPOPHL increase amid pandemic

The Intellectual Property Office of the Philippines (IPOPHL) said filings reached 121 last year, mostly alleged violations concerning counterfeiting. The remaining 54, meanwhile, pertained to suspected illegal sharing and selling of copyrighted works, it said in a statement on Friday.

Budget chief calls to hike downpayment limit for COVID-19 vaccine procurement

Budget Secretary Wendel Avisado on Friday said the downpayment limit for the COVID-19 vaccine purchase must be increased, as the 15 percent limitation may dampen the Philippines' inoculation drive. In a statement, Avisado stressed there was a need to raise the 15 percent limitation on advance payments to "ensure the timely and efficient implementation of the COVID-19 vaccination plan. "

LGUs buying vaccines required to enter into tripartite agreements under Senate bill

Senator Migz Zubiri clarified on Friday that local governments who intend to buy COVID-19 vaccines for their constituents are still required to enter into tripartite agreements with vaccine makers and the national government under the bill he filed.

House panel OKs bill allowing LGUs to directly purchase COVID-19 vaccines

The House Committee on Appropriations approved on Thursday a consolidated bill which seeks to fast-track vaccine purchase by allowing local government units to directly buy doses from pharmaceutical firms. The panel moved to pass House Bill 8648, in consolidation with House Bill 8649, but subject to amendments that have yet to be submitted Monday next week.

69% of Filipinos believe worst of pandemic is over, SWS survey says
In its poll results, the Social Weather Stations (SWS) said this figure is an increase from the September 2020 survey, which showed 47 percent of Filipinos believed that the worst has ended concerning the health crisis. The November 2020 SWS poll also found that 31 percent of Filipinos said the worst is yet to come with the Covid-19 crisis. This is lower than the September 2020 survey with 47 percent.

Bill amending 65-year old Bank Secrecy Law gains steam at House
A bill amending the Philippines' 65-year-old Bank Secrecy Law is gaining steam at the House of Representatives, and sailing smoothly off to plenary. Influential bankers from the Bankers Association of the Philippines (BAP) and the Chamber of Thrift Banks rallied behind a proposal to give the Bangko Sentral ng Pilipinas more power to examine bank deposits.