Oct 062014
 

WHEN one is facing a tax assessment case we resort to exhaust all possible and available legal remedies that the law provides for the taxpayer. One of the possible and available remedies is for the taxpayer to request for a reinvestigation of the case. Under Revenue Regulations (RR) No. 18-2013, request for reinvestigation refers to a plea of re-evaluation of an assessment on the basis of newly discovered or additional evidence that a taxpayer intends to present in the reinvestigation. It may also involve a question of fact or of law or both.

Oct 062014
 
NLEX-SLEX connector road won’t be completed within P-Noy’s term

MANILA, Philippines – Infrastructure giant Metro Pacific Investments Corp. (MPIC) said the P18 billion toll road connecting the North Luzon expressway and South Luzon expressway won’t be completed within the term of President Aquino. MPIC chairman Manuel V. Pangilinan said the decision of the government to subject the connector road to a Swiss Challenge based on the opinion issued by the Department of Justice would delay the project by at least two years. “No way we can finish by the time the President steps down. It’s about a two-year delay,” he said. Pangilinan said MPIC was looking at finishing the connector road within the term of President Aquino. “We had anticipated finishing sometime middle of 2016 by the time the President steps down. Now it may be completed by middle of 2017 onwards,” he added.  The MPIC chairman said the project would have to be resubmitted by the National Economic and Development Authority (NEDA) Board for approval. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The Justice department issued a legal opinion last July stating that the project should be reverted back to the unsolicited proposal and should be subjected to a Swiss challenge after deeming the joint venture between MPIC’s Metro Pacific Tollways Development Corp. (MPTDC) and state-run Philippine National Construction Corp. (PNCC) illegal.

Oct 062014
 
Other tourism biz soon required to register with City Tourism

SECONDARY tourism enterprises will soon be required to register with the City Tourism Operations Office (CTOO) once the Amended Tourism Code is approved. According to the proposed ordinance, secondary tourism enterprises are “facilities and services that are related to tourism.” This includes restaurants, malls, shops, department stores, sports and recreational facilities, ecotourism, health and wellness centers, museums, theme parks, and marinas. “[For] secondary tourism enterprises, it is optional for them to get a registration from the Department of Tourism but they are required to register at the CTOO,” said Councilor Al Ryan Alejandre, who heads the committee on tourism and beautification, in a phone interview with Sun.Star Davao. He said primary tourism enterprises — facilities, services, and attractions that are directly related or involved to tourism — are required to get a registration from both the DOT and CTOO. Alejandre said it is important that the secondary tourism enterprises are registered to them so that they will be able to monitor these enterprises closely. He said they will also be able to update the tourism players of what is new in the city which can affect them like new laws from the city or from the national level. “This will also be a venue for us to help them in improving their craft or services,” he said. The proposed code states that, “no person, natural or juridical, shall keep, manage, or operate any building, edifice or premises or a completely independent part thereof, for the purpose of engaging in the Read More …

Oct 052014
 
We need ethics and integrity for true success

What does it profit a person if he or she has amassed ill-gotten millions or billions, mansions or luxury vehicles, but loses his or her soul?  I recently had a session with DZMM radio hosts Alvin Elchico and Doris Bigornia. On the controversy about a police general and his many private donations for his official residence and a friend’s giving him a huge discount on his SUV vehicle, I said that in the US, Hong Kong, Singapore and other societies with strict anti-corruption laws, all gifts above a certain amount should be reported in full public disclosures. Why do we have what I call a shocking “culture of impunity” in our politics and government nowadays instead of a sense of shame, wherein some shameless leaders mired in scandals and gross incompetence should ideally resign or take at least a leave of absence? Even those in the private sector, NGOs or religious groups should ask themselves, “Are we always upholding transparency and accountability?” Recently, communication students from 21 universities and colleges behind the Metro Manila Alliance of Communication Students (MACS) invited me to speak at their conference at the Polytechnic University of the Philippines (PUP). MACS is led by president Irish Salinas and secretary general Marianne de la Cerna. They gave me the topic “The importance of ethics in communications,” and I expanded this topic to include the importance of ethics to achieve true success in any vocation or profession. Here are some of the points I discussed: 1. Maintain your Read More …

Oct 042014
 
PAL needs strategic partner – think tank

MANILA, Philippines – Think tank Centre for Asia Pacific Aviation (CAPA) stressed the need for flag carrier Philippine Airlines Inc. (PAL) to take in a new strategic partner after the group of taipan Lucio Tan successfully bought back the stake of diversified conglomerate San Miguel Corp. (SMC) in the airline. In its latest aviation analysis titled “PAL needs more and stronger partnerships. All Nippon Airways is a small step,” CAPA said PAL needs a strategic partner to mount more flights to the US and Europe. The think tank said the recent commercial partnership with All Nippon Airways of Japan and Dubai-based Etihad Airways is the right way to boost global competitiveness for the Tan Group. “ANA and Etihad have both ruled out potential investments in PAL – at least for the time being. The LT Group could look to re-engage with ANA and Etihad while also exploring other potential suitors that could come to the table with both a comprehensive codeshare partnership and capital,” CAPA said. The Tan Group successfully bought back the 49 percent interest of SMC in PAL last Sept. 15 for $1.3 billion. SMC’s wholly-owned subsidiary San Miguel Equity Investments Inc. (SMEII) acquired a 49 percent equity interest in Trustmark Holdings Corp. for $500 million. Trustmark owns 97.71 percent of PAL Holdings, which in turn owns 84.67 percent of PAL through PR Holdings Inc. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “PAL will need a much bigger and stronger portfolio of partners – and ideally Read More …