Bill Type
Congress Name
Long Title
AN ACT AMENDING REPUBLIC ACT 7042, OTHERWISE KNOWN AS THE FOREIGN INVESTMENTS ACT OF 1991, TO AUGMENT FOREIGN INVESTMENT, TO PROMOTE SUPPLEMENTARY SOURCE OF REVENUE, AND FOR OTHER PURPOSES
Text as filed (link)
Date filed
August 29, 2019
Scope
Legislative History
| House Bill/Resolution NO. HB04268 |
| FULL TITLE : AN ACT AMENDING REPUBLIC ACT 7042, OTHERWISE KNOWN AS THE FOREIGN INVESTMENTS ACT OF 1991, TO AUGMENT FOREIGN INVESTMENT, TO PROMOTE SUPPLEMENTARY SOURCE OF REVENUE, AND FOR OTHER PURPOSES |
| ABSTRACT : Intends to amend Sec.8 of R.A.No.7042, as amended by R.A.No.8179, to read as follows:... "Small and medium-sized domestic market enterprises with paid-in equity capital less than the equivalent of $300,000.00, are reserved to Philippine national:Provided that: 1) they involve advanced technology as determined by the DOST; or 2) they employ at least 15 direct employees, then a minimum paid-in capital of $150,000.00 shall be allowed to non-Philipppine nationals. |
| PRINCIPAL AUTHOR/S : ROMERO, MICHAEL ODYLON L. |
| DATE FILED : 2019-08-29 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON ECONOMIC AFFAIRS ON 2019-09-04 |
Abstract
Intends to amend Sec.8 of R.A.No.7042, as amended by R.A.No.8179, to read as follows:... "Small and medium-sized domestic market enterprises with paid-in equity capital less than the equivalent of $300,000.00, are reserved to Philippine national:Provided that: 1) they involve advanced technology as determined by the DOST; or 2) they employ at least 15 direct employees, then a minimum paid-in capital of $150,000.00 shall be allowed to non-Philipppine nationals.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.