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27/F 88 CORPORATE CENTER, 141 SEDEĂ‘O STREET, SALCEDO VILLAGE, MAKATI CITY 1227, PHILIPPINES
Tel:
Work +63 2 889 6060
Email:
Web:
www.zglaw.com

Angelo Patrick Advincula

Tel:
Work +6328896060
Email:
Zambrano Gruba Caganda & Advincula

Work Department

Partner.

Position

Commercial Law, Commercial Litigation and Arbitration, Government Policy, Taxation.

Career

Atty. Advincula is competent in Commercial Litigation and Arbitration in the fields of BOT infrastructure contracts and water concession contracts. He was engaged by the Office of the Government Corporate Counsel, the Department of Justice and the National Irrigation Authority in the following cases: Successful defense of a Government agency against a US $125 million claim for contractual default and non-performance filed by a power producer; Successful defense of a government-owned corporation in an UNCITRAL arbitration filed by a water concessionaire, which charged the agency with contractual default and fraud in administering the BOT agreement, and which involved the amount of US $108 million; Defense of a partly government-owned private bank in a case involving the transfer of alleged ill-gotten funds in the amount of US $634 million to the Philippine Government; and Representation of a Philippine province in a US $100 million damages claim against a Canadian mining company for pollution and environmental damage. Tax In the field of Taxation, Atty. Advincula advises clients on the tax implications of domestic international transactions, including mergers, acquisitions, financings, investments, joint ventures and restructurings. He was instructed by a number of Fortune 500 companies in seeking favorable guidance and rulings from the Bureau of Internal Revenue, handling tax assessments and audits before the Court of Tax Appeals, as well as securing VAT refunds. Some highlights include: Successful defense of a Fortune 500 Company against a US $33 million tax assessment involving deficiency income taxes and the application of income tax holidays; Successful claim for a US $8.2 million tax refund for a multinational power producer involving VAT zero-rated power sales; and Tax structuring advice to a US software company in preparation for a US $120 million government bidding. He was a Lecturer at the Ateneo School of Law in Taxation. He was a Director of Asia United Bank, and served as Chairman of its Trust Committee. He is presently the Corporate Secretary of Philippine Bank of Communications.

Languages

English, Filipino.

Member

Integrated Bar of the Philippines Tax Managers Association of the Philippines.

Education

University of the Philippines - BA (Philosophy) University of the Philippines College of Law - LLB (Laws).


Philippines

Banking and finance

Within: Banking and finance

Angelo Advincula and Samantha Dy-van de Loo lead the team at Zambrano Gruba Caganda & Advincula, and are ably supported by Jorge Melo and Antero Caganda. Between April 2015 and March 2016, Lily Gruba assisted Asia United Bank Corporation with over $554m-worth of loans to various borrowers.

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Capital markets

Within: Capital markets

Samantha Dy-van de Loo at Zambrano Gruba Caganda & Advincula advised Asia United Bank Corporation on its $108m Tier 2 notes issuance. Angelo Advincula is recommended.

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Corporate and M&A

Within: Corporate and M&A

The key partners at Zambrano Gruba Caganda & Advincula are Angelo Advincula, Samantha Dy-van de Loo and Juan Miguel de la Fuente. De la Fuente advised Frontier Capital Group and E!xcite Gaming and Entertainment on their $26m acquisition of Stotsenberg Leisure Park & Hotel Corporation.

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Dispute resolution

Within: Dispute resolution

Antero Caganda, Angelo Advincula and Jorge Melo are the key partners at Zambrano Gruba Caganda & Advincula. The team assisted Philippine National Bank with obtaining a tax refund for tax wrongly paid in 2003.

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Tax

Within: Leading individuals

Angelo Advincula - Zambrano Gruba Caganda & Advincula

Within: Tax

At Zambrano Gruba Caganda & Advincula, Angelo Advincula successfully assisted Puregold Duty Free with a $60m refund for VAT and excise taxes wrongly paid between 1998 and 2004. Lily Gruba, Antero Caganda and Juan Miguel de la Fuente are also recommended.

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Legal Developments by:
Zambrano Gruba Caganda & Advincula

  • Ending "Endo"

    “Endo” is the twin brother of the drug monster that also needs to be slain, so says the Duterte administration.  “Endo” is layman’s term for end of employment contract.  It is the date indicated on the employment contracts and is dreaded by employees as it means the end of his or her employment.  Read more...
    - Zambrano Gruba Caganda & Advincula

Legal Developments in Philippines

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • ALB: “Enforcement Update: Philippine Competition Act”

    The August 2017 issue of the Asian Legal Business (ALB)  includes a Philippine regional update by SyCipLaw partner  Arlene M. Maneja entitled, “Enforcement Update: Philippine Competition Act”. The article summarizes the administrative, civil and criminal penalties that apply to companies that have yet to comply with the Philippine Competition Act (PCA). The transitional clause of the PCA to enable parties to renegotiate agreements or restructure their businesses to comply with the law expired on August 7, 2017.
  • CPO: “Philippines: To Be or Not To Be a Data Protection Officer (DPO)”

    Chief Privacy Officer (CPO) Magazine, an online publication owned by Data Privacy Asia, featured an article by SyCipLaw partner Rose Marie M. King-Dominguez . Entitled “Philippines: To Be or Not To Be a Data Protection Officer (DPO) ”, the article discusses the qualifications and responsibilities of a DPO as outlined in the Philippine Data Privacy Act of 2012. It also outlines difficulties companies may experience in the appointment of a DPO.
  • ALB: “Guidelines on Related Party Transactions for Insurers in the Philippines”

    The July 2017 issue of the Asian Legal Business (ALB) includes a Philippine regional update by SyCipLaw partner Hiyasmin H. Lapitan and associate Jo Margarette W. Remollo entitled, “Guidelines on Related Party Transactions for Insurers in the Philippines ”. The article summarizes the Insurance Commission’s compliance guidelines on related party transactions, as set out in Insurance Circular Letter No. 2017-29. The Circular covers insurers, reinsurers, branch offices of foreign insurers, mutual benefit associations, pre-need companies, and health maintenance organizations and their intermediaries.
  • Philippines Chapter in The Tax Disputes and Litigation Review - Edition 5

    The Philippines section of The Tax Disputes and Litigation Review - Edition 5 contains information on commencing disputes, including national and local taxes; courts and tribunals; penalties and remedies; tax claims, including recovering overpaid taxes, challenging administrative decisions, and claimants; costs; alternative dispute resolution; anti-avoidance; double taxation treaties; areas of focus; and outlook and conclusions. The section was contributed by SyCipLaw partner  Carina C. Laforteza  with support from associate  Mark Xavier D. Oyales .
  • IFLR: “Philippines: Acquiring insurance brokers”

    The April issue of the International Financial Law Review (IFLR) includes an international briefing article by SyCipLaw partner  Hiyasmin H. Lapitan  entitled “Philippines: Acquiring insurance brokers”. The article discusses the new requirement by the Philippine Insurance Commission (IC) for advance approval to acquire a stake in a Philippine corporation that is licensed as an insurance broker or reinsurance broker. This requirement is noted in the IC’s circular letter number 2017-09 dated February 14, 2017, which prescribes guidelines on the documentation requirements for acquiring a domestic insurance or reinsurance broker.
  • SyCipLaw Tax Bulletin: Philippine BIR Rules on Proper Tax Treatment of Passed-on Gross Receipts Tax

    On June 13, 2016, the then Commissioner of Internal Revenue issued Revenue Memorandum Circular No. 62-2016 purporting to clarify the proper tax treatment of percentage tax or gross receipts tax (GRT) due on transactions covered by Sections 1211 and 1222 of the Tax Code which are shifted through contractual stipulations to borrowers/customers/clients (“passed-on” GRT). Banks, non-bank financial intermediaries performing quasi-banking functions are subject to GRT under Section 121 while financing companies and other financial intermediaries not performing quasi-banking functions are subject to GRT under Section 122. The effectivity of this circular was suspended on July 1, 2016 by the new Commissioner of Internal Revenue. However, on November 15, 2016, the suspension was lifted by RMC No. 127-2016 rendering RMC No. 62-2016 effective immediately.
  • Philippine Court of Appeals Denies Issuance of Environmental Protection Order Against Mining Company

    In a decision issued on March 8, 2017, the Philippine Court of Appeals (CA) denied the petition by NGO Ang Aroroy ay Alagaan, Inc. and certain individuals, for the issuance of a writ of kalikasan against Filminera Resources Corporation, and its directors and officers. The petitioners have claimed that Filminera, which operates in the Philippine province of Masbate, had been causing environmental damage in the conduct of its mining operations in violation of local law, and that a writ of kalikasan should be issued.
  • SyCipLaw TMT Bulletin: Philippine Central Bank Issues New FinTech Rules

    The Bangko Sentral ng Pilipinas (BSP) (the Philippine Central Bank) has issued two new circulars that will be of interest to companies engaged in remittance services, e-money, digital currency, and other fintech businesses. Both circulars amend portions of the BSP Manual of Regulations for Non-Bank Financial Institutions.
  • IFLR: “Philippines: Foreign equity ownership decision”

    The March issue of the International Financial Law Review ( IFLR ) includes an international briefing article by SyCipLaw partner  Jose Florante M. Pamfilo  entitled “Philippines: Foreign equity ownership decision”. The article discusses the Philippine Supreme Court decision on the case of Roy v. Herbosa (GR no. 207246) to invalidate the Securities and Exchange Commission (SEC) Memorandum Circular no. 8-2013 (MC 8-2013) on the guidelines on compliance with the Filipino-foreign ownership requirements prescribed in the Philippine Constitution and/or existing laws by corporations engaged in nationalized and partly nationalized activities.
  • Doing Business 2017: Equal Opportunity for All

    The World Bank Group has released its Doing Business 2017: Equal Opportunity for All report. This is the 14th in an annual series of reports providing objective measures of business regulations and their enforcement in 190 economies. The report focuses on measuring regulations affecting 11 areas: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, and labor market regulation.