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PHILIPPINES
-Dummy Law .......................................................................... 7
Competition Law .......................................................................... 7
Exchange Controls ....................................................................... 8
Inbound Investments ............................................................... 8
Outbound Investments ............................................................ 8
Emergency Powers of the Monetary Board ................................ 9
Securities Law Issues .................................................................. 9
Sale, Offer and Distribution in the Philippines ......................... 10
Issuance or Sale of Securities Abroad .................................... 11
Specific Industry Regulation ....................................................... 11
Banking Sector ..................................................................... 12
Insurance Sector .................................................................. 13
Telecommunications Sector ................................................... 13
NON-REGULATORY CONSENTS AND APPROVALS ....................................... 14
TAXATION ISSUES ............................................................................................ 15
Jurisdictional Tax ....................................................................... 15
Dividends ............................................................................. 16
Branch Profits ....................................................................... 16
Tax Treaties .......................................................................... 16
Share Acquisitions Versus Asset Acquisitions ......................... 17
Versus MergersMergers and Ac
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