House oks bill encouraging corporate social responsibility

MANILA, Philippines --- The House of Representatives on Monday approved on third and final reading a bill that encourages business organizations to engage in corporate social responsibility (CSR) activities.   The lower chamber approved House Bill No. 9061 with 158 affirmative votes and no negative vote or abstention.   The proposed law seeks to allow stock corporations to retain profits in excess of 100 percent of paid-in capital stock to be used for expansion or CSR projects.   According to the bill, CSR efforts include charitable projects, scientific research, youth and sports development, cultural or educational promotion, services to veterans and se...

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