The Bank Secrecy
Law, passed in 1955, covers 'all deposits of whatever nature with banks or banking institutions in the Philippines.'
orders are still in use today, under the authority of the Invention Secrecy
Act of 1951, and inventors and companies, concerned about imitation or intellectual-property theft, often prefer to keep their discoveries secret rather than patent them.
Also, Congress has yet to pass a measure that would ease the restrictions in the bank secrecy law.
The DOF proposed tax amnesty measure, which is under its Package 1B of the Comprehensive Tax Reform Program, includes measures of an estate tax amnesty which is estimated to generate P6.28 billion; general tax amnesty, P13.63 billion; tax amnesty on delinquencies, P27.16 billion; and lifting of the bank secrecy law for criminal cases, as well as the AEOI, P16.6 billion.
President Duterte signed but partially vetoed RA 11213 in February because it did not contain a provision that lifted bank secrecy for fraud cases.
"I ask Congress to pass another general tax amnesty bill that includes the lifting of bank secrecy for fraud cases, the inclusion of automatic exchange of information and safeguards to ensure that asset or net worth declarations are truthful," he said.
Trillanes, however, has reportedly dismissed as mere lip service the President's call for reforms on the bank secrecy measure for tax purposes.
Despite Amy's family and the Lucie Blackman Trust revealing earlier this week Amy was the dead woman, court officials said the secrecy order - 'secreto de sumario' in Spanish - prevented them from officially confirming it was her.
Under Spanish law an investigating judge is taking an exceptional measure when he or she places a secrecy order over an investigation.
The Role of Trade Secrecy in Promoting First-Mover 809
increasing characterization of trade secrecy as part of the panoply of
The case underscored how Swiss authorities continue to pursue people who leak client data even as strict banking secrecy erodes in an era of automatic sharing of account data among tax authorities to catch cheats.
Some lawmakers in the European Union worried that the prosecutors' move, if successful, would deter potential whistleblowers from supplying information on people accused of shifting wealth to tax havens through accounts protected by secrecy laws.
to create an aura of mystery around her fictional character, Lucy Snowe," but also to further "a Simmelian-like theory of the role of secrecy in the construction of personal and social identity" (57).
Some of May's most illuminating work appears in her fifth chapter, on secrecy, orientalism, and Bulwer-Lytton's 1838 historical romance Leila; or, The Siege of Granada.