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9TH, 10TH, 11TH & 12TH FLOORS, ONE ORION, 11TH AVENUE, CORNER UNIVERSITY PARKWAY, BONIFACIO GLOBAL CITY 1634, METRO MANILA, PHILIPPINES
Tel:
Work +63 2 810 5858
Fax:
Fax +63 2 810 3838
Email:
Web:
www.cruzmarcelo.com
Manila, Manila
Cruz Marcelo & Tenefrancia, Aida Araceli G. Roxas-Rivera, Manila, PHILIPPINES

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Aida Araceli G. Roxas-Rivera

Email:
Cruz Marcelo & Tenefrancia

Work Department

Senior Partner

Position

•Corporate and Commercial Law •Mergers & Acquisitions •Capital Markets, Securities Regulation & Finance

Career

Ms. Rivera is a Senior Partner in our Corporate and Commercial Law Group and heads the Firm’s Retainer, Corporate Governance & Regulation and Gaming practice groups. Representing both local and foreign clients in connection with their investments in the Philippines, she has demonstrated expertise in addressing legal issues involving ownership and nationality restrictions, national and local taxes, and regulatory compliance, among others. She has extensive experience in assisting foreign clients in setting-up their business entity in the Philippines, establishing joint ventures with Philippine partners, and in ensuring compliance with relevant government regulations imposed by the Securities and Exchange Commission, Department of Trade and Industry, Board of Investments, Philippine Economic Zone Authority, Bangko Sentral ng Pilipinas, National Telecommunications Commission, Philippine Amusement and Gaming Corporation, Philippine Charity Sweepstakes Office, among others, and local government units. She has also actively assisted clients in the negotiation, preparation, drafting, review and implementation of various contracts and agreements, including the conduct of due diligence and assistance in mergers and acquisitions, whether asset or share purchase transactions. She also has extensive experience in government relations due primarily to the various positions she has held in the Philippine Government: Assistant Secretary for Legal (Department of National Defense) from January 2005 to November 2006; Undersecretary (Office of the Chief Presidential Legal Counsel and Office of the Executive Secretary) in the Office of the President of the Philippines from December 2003 to January 2005; and Assistant Secretary for Legal Affairs (Presidential Management Staff) in the Office of the President from September 2001 to December 2003.

Member

Ms. Rivera is a member of the Integrated Bar of the Philippines, Philippine Bar Association, U.P. Women Lawyers’ Circle, Federacion Internacional de Abogadas (Phil.) and the Women Lawyers Association of the Philippines. She was admitted to the Philippine Bar in 1996.

Education

Ms. Rivera obtained her Bachelor of Laws degree from the University of the Philippines in 1995, ranking sixth in her class and graduating with a Dean’s Medal for Academic Excellence. She was also a consistent member of the Order of the Purple Feather Honor Society. Ms. Rivera also holds a Bachelor of Arts degree in Communications from the University of the Philippines, where she graduated in 1989.


Philippines

Corporate and M&A

Within: Leading individuals

Aida Roxas-Rivera - Cruz Marcelo & Tenefrancia

Within: Corporate and M&A

Cruz Marcelo & Tenefrancia’s ‘excellent’ department counts Aboitiz Equity Ventures, ABS-CBN Corporation and Dole Philippines among its clients. Aida Roxas-Rivera acted for ALK Holdings & Management on its purchase of Fritz & Macziol Asia. Manuel Manaligod, Jr leads the practice.

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Legal Developments in Philippines

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  • 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.
  • IFLR: “Philippines: Promoting foreign investment”

    The February issue of the International Financial Law Review (IFLR) includes an international briefing article by SyCipLaw partner  Aaron Roi B. Riturban  entitled “Philippines: Promoting foreign investment”. The article focuses on Republic Act no. 10881, which lifts the foreign investment limitations found in laws governing adjustment companies, lending companies, financing companies, and investment houses.  Read the article online at the IFLR website .
  • Enabling the Business of Agriculture 2017

    The World Bank Group has released Enabling the Business of Agriculture 2017. The report presents data on legal barriers for farmers, entrepreneurs and businesses operating in agriculture in 62 countries and across the topics of land, seed, fertilizer, machinery, water, livestock, finance, markets, transport, and information and communication technology (ICT). SyCipLaw's  Rose Marie M. King-Dominguez ,  Alan C. Fontanosa ,  Franco Aristotle G. Larcina  and  Ruben P. Acebedo II  contributed to the report.
  • 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...