The rare legal victory of Nobel laureate Maria Ressa and Rappler may prove to be beneficial for the Philippines’ overall business climate and capital raising activities, the newsroom’s lead counsel and former local bourse operator chief said.
MANILA, Philippines–
Ressa emphasized that Rappler’s tax cases “are where capital markets, where rule of law, where press freedom meet.” If you make [capital raising] taxable, companies may be limited to internally generated funds, which by nature is quite limiting“With due respect to the prosecution, their theory of the case fails to distinguish between investments and sale of stock in trade,” Lim said.
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