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Philippines Increases Antitrust Fines By 10%

By  |  January 25, 2021

The Philippine Competition Commission (PCC) on Monday, January 25, raised by 10% the amount of fines slapped on antitrust violators to keep track with inflationary adjustments, reported Business Mirror.

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    Under Memorandum Circular 21-001, the PCC increased the penalties for anticompetitive agreements, abuses of dominance, anticompetitive mergers and violations of compulsory merger notification by 10%. According to the agency, the competition law provides it the authority to adjust administrative penalties every 5 years to maintain their real value.

    “Indexing the value of imposable fines to inflation ensures that the competition law’s sanctions maintain sufficient deterrent effect,” said PCC Chairman Arsenio M. Balisacan.

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