(Third of three parts)IN THE LAST two columns, we discussed in significant detail the recently released Revenue Regulations No. 2-2013, The Transfer Pricing Regulations (more informally called the TP Regs), which took effect on Feb. 9, 2013. The guidelines are largely based on the Organization for Economic Cooperation and Development (OECD) TP Guidelines, which have served as the framework for TP regulations around the world. In this article, we will now discuss the relevance of the new regulations on Mutual Agreement Procedures (MAPs).

By Jaymee T. Gamil Philippine Daily Inquirer 3:31 am | Monday, February 18th, 2013 MANILA, Philippines—The Makati City police stood firm in its implementation of the nationwide gun ban, charging a bodyguard of an ambassador to Manila with violation of the election prohibition. Makati police chief Senior Supt. Manuel Lukban Jr. said city police on Saturday afternoon apprehended Noel Aspa, 31, a “protective agent” of Accuria Executive Protection and Detective Services Inc. who was hired to provide security for the Kuwaiti ambassador to the Philippines. Aspa was stopped at 1:40 p.m. by a security guard manning the entrance to Greenbelt 5 as he entered ahead of Ambassador Waleed Ahmad Al-Kandari. Aspa refused to deposit his firearm, a 9-mm pistol, with 15 rounds of ammunition, prompting the mall guard to radio policemen patrolling near the area for help. Lukban said that out of respect for the diplomat, and so as to “not jeopardize his security,” the police confiscated the gun but allowed Aspa to enter with the ambassador. The Makati police, however, went ahead and filed a complaint in court against Aspa for violating the Omnibus Election Code. “If the judge issues a warrant of arrest for him, then we’ll arrest him,” Lukban said. High profile requires exemption Lukban reminded private security agencies that no matter how high profile their clients were, they were still “specifically required to seek an exemption from the Commission on Elections.” Once an exemption is approved, private security guards are required to be in uniform when Read More …

Agence France-Presse 1:56 am | Monday, February 18th, 2013 Sultan of Sulu Jamalul Kiram talks to reporters during a news conference in Alabang, south of Manila, Philippines on Sunday, Feb. 17, 2013. His followers who crossed to the Malaysian state of Sabah this month will not leave and are reclaiming the area as their ancestral territory, the sultan said Sunday, Feb. 17, 2013, amid a tense standoff. AP PHOTO/AARON FAVILA MANILA, Philippines—Followers of a Philippine sultan who crossed to the Malaysian state of Sabah this month will not leave and are reclaiming the area as their ancestral territory, the sultan said Sunday amid a tense standoff. Sultan Jamalul Kiram said his followers—some 400 people including 20 gunmen—were resolute in staying despite being cornered by security forces, with the Kuala Lumpur government insisting the group return to the Philippines. “Why should we leave our own home? In fact they (the Malaysians) are paying rent (to us),” he told reporters in Manila. “Our followers will stay in (the Sabah town of) Lahad Datu. Nobody will be sent to the Philippines. Sabah is our home,” he said. The sultan did not directly threaten violence but said “there will be no turning back for us.” Malaysian officials have said that many in the group have weapons, but Kiram insisted his followers made the trip unarmed. “If they have arms, they were already in Sabah,” the sultan said. The southern Philippine-based Islamic sultanate once controlled parts of Borneo, including the site of the stand-off, and Read More …

Associated Press 2:17 pm | Thursday, February 14th, 2013 Rose Natividad, left, reacts as a singer, hired by her partner who is working for a cruise liner overseas, serenades her as a surprised Valentine’s Day gift to her at her office in Manila, Philippines Thursday Feb. 14, 2013. The unique surprise serenade service, which includes love songs, a cuddly teddy bear, and a video recording of the romance-by-proxy event that is shipped to the client abroad, is played out in restaurants, offices and homes across the Philippines on Valentine’s Day. AP/Bullit Marquez MANILA, Philippines — Angelica Nino, a 22-year-old manager of a Manila restaurant, was preparing to assign shifts to her crew last week when she got a big surprise from her Filipino boyfriend who has been in Italy for a year on business. To mark their first anniversary as a couple and as an early Valentine’s Day gift, he sent over a singer and a guitar player to serenade her and read out his love letter. This scene will be played out Thursday in restaurants, offices and homes across the Philippines on Valentine’s Day. With nearly 10 percent of the country’s 94 million people working abroad, clearly there was room for someone to play Cupid between long-distance lovers. And then was born a unique surprise serenade service, which includes love songs, a cuddly teddy and a video recording of the romance-by-proxy event that is shipped to the client abroad. To immortalize their love, the video is also posted on Read More …

MANILA, Philippines – The Bureau of Internal Revenue filed on Thursday criminal charges against two flower shops who failed to issue receipts in violation of the National Internal Revenue Code of 1997. The state agency charged Sylvia Pimentel, sole proprietress of Flowers by Sylvia, a flower shop in San Antonio Village, Makati City. The bureau likewise filed with the Justice Department a complaint against Casa Flores, Inc. and its president Belen Bactad, vice-president Edgar Bactad and treasurer/secretary Fe de Belen Bactad de Leon. BIR said the two flower shops were subjected to covert surveillance operations to verify whether or not they are issuing receipts as mandated by the Tax Code. “Two BIR investigators acted as poseur customers who bought flowers from Pimentel’s flower shop. Her establishment did not issue to the first buyer any official receipt but instead issued an unregistered provisional receipt that did not conform to the invoicing requirements provided under the Tax Code. It still failed to issue any receipt to the second buyer but instead issued for the second time an unregistered provisional receipt,” the bureau said. BIR added that the same happened with Casa Flores, which only issued an unregistered delivery receipt that did not conform to the invoicing requirements of the Tax Code. “It likewise failed to issue any receipt to the second buyer but issued a cash invoice only upon demand,” BIR said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The shops were served mission orders before the investigators apprehended and Read More …

Buying medicines from sari-sari stores and other unlicensed drug outlets may pose risks to health, the Food and Drug Administration warned. In an advisory, the FDA also warned against self-medication, saying the public should “seek professional health care before taking any medicine.” “The FDA cannot assure the consumers that the medicines sold from these illegal outlets were manufactured under Good Manufacturing Practice. Contaminated or adulterated medicines may result to unexpected secondary effects or side effects,” FDA acting director Kenneth Hartigan Go said. He added improperly handled and stored medicines may become ineffective when exposed to humidity and extreme temperatures. Worse, consumers who buy prescription drugs from sari-sari stores may suffer from adverse drug reactions and put their lives in danger, he said. “Patients may unknowingly buy a counterfeit product containing inert ingredients or genuine medicine that are expired and have been resold by unscrupulous peddlers,” he added. The advisory dated Jan. 25 was posted on the FDA website only on Feb. 13. Hartigan-Go advised patients who have taken medicines bought from sari-sari stores and unlicensed drug outlets to contact the FDA Adverse Drug Reaction Unit in case they suffer from adverse reactions. The FDA Adverse Drug Reaction Unit may be contacted at 165-332 or (02) 857-1900 local 2221. Meanwhile, he said FDA drug inspectors will coordinate with local government units in calling the attention of sari-sari stores and other illegitimate drug outlets to refrain from selling drug products. —KG, GMA News

For the first time, media personnel who will not be able to vote on election day due to work will now be allowed to cast their votes ahead of the elections. In Resolution 9637, the Commission on Elections said media practitioners, even the technical and support staff who are actively engaged in information gathering and news reporting, are now entitled to avail of the local absentee voting. The resolution was promulgated on February 13. Comelec spokesperson James Jimenez said they will be coming out with application forms soon, adding that they expect between 10,000 to 20,000 media workers to avail of the local absentee voting. Among those who can avail of the local absentee voting are print journalists, television journalists, photojournalists, online journalists, radio journalists, documentary makers and those in television/ radio production who are duly registered voters. For the May 13 polls, the local absentee voters can only vote for 12 senators and a party-list group. In the past, only government officials and employees, members of the National Police and Armed Forces who are temporarily assigned to perform election duties in places where they are not registered voters, are allowed to participate in local absentee voting. The voting will be held from April 28, 29, 30 from 8 a.m. to 5 p.m. Members of the media can vote at the Comelec office where they filed their applications while for the others, the AFP and PNP, head of office, supervisor or commander should designate the place of voting not later Read More …

1:09 pm | Thursday, February 14th, 2013 KUALA LUMPUR – Malaysian security forces have captured a group of “foreigners with firearms” believed to be militants from the southern Philippines, police said on Thursday. State news agency Bernama cited unidentified police sources as saying the group was made up of more than 100 men in military fatigues, but police have not publicly confirmed that report. National police chief Ismail Omar said in a statement late on Wednesday that the gunmen intruded on Malaysian soil in the state of Sabah on Borneo island, a region with a history of incidents involving armed Filipino groups. “This intrusion is a result of the problems in the southern Philippines,” Ismail said in an apparent reference to Muslim insurgents and other lawlessness in the southern Philippines, which lies just across the Sulu Sea from Sabah. Malaysia is predominantly Muslim. Ismail said security forces surrounded and ordered the gunmen to surrender in the Malaysian coastal town of Lahad Datu. His statement made no mention of how many people were involved. “They’ve surrendered, but as for the number, I really have no info for now,” said a police spokesman contacted by AFP on Thursday. Sabah’s eastern tip is less than an hour by speedboat from the nearest Philippine islands. In October, Manila reached a framework agreement with the southern Philippines’ main Muslim separatist group aimed at ending a decades-long insurgency that has left more than 150,000 people dead. In 2000, a Philippine militant group seized 21 mostly Western Read More …

(Updated 1:56 p.m.) In a phone interview with reporters on Thursday, Lacson said he is looking into allegations that Santiago used her pork barrel to construct a cockpit arena in Pasig. “Kasi may sinisimulan akong imbestigahan ngayon, ‘yung paggamit niya ng pork barrel under the guise na sports complex ‘yung ipapagawa eh cockpit arena ang kinonstruct. ‘Yun ay sinisimulan ko na mag-gather ng mga dokumento at ebidensya at kung mayroong basehan again ire-refer ko ‘yan sa Ombudsman,” he said. In a text message to GMA News Online earlier in the day, Lacson was more succinct: “I have just started my investigation. Every time she opens her big mouth, I will gather evidence to expose her misdeeds and corrupt ways.” Santiago’s office said she will issue a statement within the day. Lacson issued the statement a day after Santiago threatened to expose his alleged sins, even his supposed true sexuality. “Maghanda ka (Lacson) dahil meron akong parliamentary immunity, ibulgar ko lahat ng kasalanan mo pati ang sexuality mo,” she said in a radio interview Wednesday. On Thursday, Lacson this was “really below the belt.” “Unang-una hindi totoo [‘yun]. Uso naman ang aminan pero bakit ko aaminin kung talagang hindi totoo kung bakla ako eh baka wala nang macho dito sa mundo,” he said. He said Santiago should read the law again to realize that parliamentary immunity is not in effect during session breaks. He also said Santiago should not use this to trample on the rights of others. “That’s a big Read More …

Discover and experience why ‘It’s More Fun in the Philippines’ By MANNY V. ILAGAN The Los Angeles contingent from last year’s 7th Ambassadors, Consuls General and Tourism Directors Tour poses with President Benigno Aquino III at the Malacañang Palace. The 8th Ambassadors, Consuls General and Tourism Directors Tour is set for July 9-15 this year. (Malacañang photo by Gil Nartea) LOS ANGELES – Filipinos in the United States will experience and discover for themselves why “It’s More Fun in the Philippines” when they join the 8th Ambassadors, Consuls General and Tourism Directors Tour of the Philippines on July 9 – 15, 2013. Launching ceremonies for this year’s Tour is scheduled for Thursday, February 7 at the Philippine Consulate General Office, located at 3600 Wilshire Blvd., 5th Floor, Los Angeles, CA 90010. Highlight of the Tour is the Special Visit to Malacanang and an audience with President Benigno S. Aquino III. Moreover, participants can expect more fun, more adventures and lot of exciting activities as they experience a grand welcome and reception, explore business and investment opportunities, and delight in onsite bazaars and mini-trade fairs. For only $1,933 per person on double occupancy, with fuel tax and surcharges included, the BASIC TOUR features the following: • Round-trip ticket from Los Angeles to Manila via Philippine Airlines (departing on July 7, 2013) • 3 nights stay at the EDSA Shangri-la hotel in Ortigas Center, Mandaluyong City • Daily buffet breakfast and 2 lunches • Dinners with cultural show and entertainment • Historic Read More …