DAVAO CITY — Low-cost carrier AirAsia Philippines, Inc. is considering offering a Davao-Puerto Princesa-Kota Kinabalu service, expanding on previous plans for the Davao-Kota Kinabalu route.
Mar 292015
Mar 292015
This article continues our series on the Base Erosion and Profit Shifting (BEPS) project, and the Action Plans that have so far been submitted, by the Organisation for Economic Co-operation and Development (OECD). We now look at Action Plan 15 on Developing a Multilateral Instrument to Modify Bilateral Tax Treaties.
Mar 292015
Plus, Iya Villania shares money-saving tips.
Mar 292015
When Ryan Agoncillo and wife Judy Ann argue, what do their kids do?
Mar 292015
popular . Santiago: ‘What is Binay afraid of?’ Peace advocates march in QC to mark CAB 1st anniversary Pinoy Pride 30 gets going PH gets P9.5B in new Japan aid US chef is ‘Santa’ to malnourished kids Three vital references for BBL Lessons from Ryan Agoncillo’s private haven You’re entitled to my opinion videos PBA: Ginebra’s LA Tenorio comfortable on the floor with Emman Monfort PBA: Agustin credits good defense, big men performance for win over Purefoods PBA: Warner’s maturity big thing for Globalport, says coach Gonzales Crime watchdog wants advisory body composed of bishops, inter-religious leaders Former Tarlac Governor calls Aquino to resign Top finance and central bank officials of the Association of Southeast Asian Nations support moves to come up with a regional tax identification number (TIN) in line with plans to harmonize taxation policies as well as strengthen compliance monitoring across member-states. “We acknowledged the progress of work of the Asean Forum on Taxation (AFT), particularly in the continuous efforts to complete a network of bilateral tax agreements, to improve exchange of information for tax purposes, and to enhance members’ cooperation on capacity-building on taxation matters. We also welcomed AFT’s plan to further discuss other areas under taxation, including the feasibility study of the global TIN scoping proposal, base erosion and profit shifting issues, and to explore possible ways on tax harmonization,” read the joint statement issued following the First Asean Finance Ministers’ and Central Bank Governors’ Meeting in Kuala Lumpur, Malaysia last week. Finance Secretary Cesar Read More …
Mar 292015
Women weave baskets and toys. We were told that it was the first and only living museum in the Philippines. I thought I should dispute that, recalling how the distinction might be rightfully owned by the Lamlifew Village Museum run by the B’laans in Sarangani, which was inaugurated by the National Museum of the Philippines in late 2007, and launched in the Lamlifew Village almost a year later. But researching on that recently, I realize that it’s not called a living museum anymore. Maybe it was then just an informal tag for the cultural village that offered samples of B’laan architecture, art and crafts, specifically their music, dress and beadwork. Established by the Lamlifew Women’s Tribal Association, it has since become a functioning museum displaying an artifact collection that includes antique garments and weaponry. Where we were over a week ago, in Malay town, Aklan, the jump-off point to Boracay, we had the privilege of visiting the Motag Living Museum, which is but a brief ride from Caticlan. We had spent the day and night at Finca Verde, a private farm and prospective wellness spa run by Binggoy and Niña Remedios with their little daughter Chabeli. It was so close to the dream island with the 7th best beach in the world, per Trip Advisor, that we managed to slip away from the farm close to sundown and make the crossing in time to have Saturday dinner at Binggoy’s Dos Mestizos. Then we went right back by boat to the Read More …
Mar 292015
Demetrio Dela Cruz’s “Stations of The Cross” paintings at The Pinto Museum, Antipolo City until April 23 MANILA, Philippines – In the coming Lenten season, artist Demetrio Dela Cruz finds it time again to reflect on the meanings of Lent and how they impact on the Filipino museumgoer and lover of art. The Pinto Museum under Dr. Joven Cuanang in Grand Heights Subdivision in Antipolo City presents an exhibit on view until April 23, with the show installed and stationed on museum grounds. His present show at Pinto Gallery, titled “Offering,” demonstrates a fresh burst of artistic vigor inspired by the Lenten season, memorable to all Filipinos. But unlike most artists who convey their message only through two-dimensional paintings in oil or acrylic, Demetrio adds another new and distinguishing element: that of three-dimensionality. Now this factor is important indeed, because the secret of art is the ability to invent, use and explore various media, not only for itself, but most of all, to convey meaning. Indeed, the medium and the meaning have a basic relationship that can be quite complex and challenging. And while the artist may have a body of spiritual meaning or meanings in mind, he or she needs to explore and choose the medium that best conveys this complexity of meanings. And, as in the case of Demetrio Dela Cruz, he invents the medium (or media) with which to best communicate his set of ideas. It is this aspect that sets Demetrio above the rest. For the Read More …
Mar 292015
MANILA, Philippines – Philippine stocks are expected to take it slow this shortened trading week following last week’s rally towards back-to-back record closes as investors prepare for the Holy Week break. Trading in the Philippine Stock Exchange will temporarily stop on Thursday and Friday, and will return on Monday. “Light trading may be expected in the approaching Holy Week shortened sessions,” said Justino Calaycay Jr., analyst at Accord Capital Equities Corp. Some analysts, however, said it would not be a surprise if the local market pulls off another record-setting surprise before heading to its long break. They said positive earnings results from companies who have yet to report on their full year 2014 performance as well as last week’s momentum may push the index to another run at all-time high levels over the next three trading sessions. “A hold is still recommended as we expect sideways volatility this shortened trading week. However, since the PSEi already broke its monthly resistance, keep watch on any follow throughs which could signal another bullish wave for the index,” said Luis Limlingan, managing director at Regina Capital Development Corp. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The Philippine Stock Exchange index (PSEi) last week posted its 20th and 21st record close of the year. The benchmark stock index finished strong on Friday with a new record close of 7,877.96 and at the same time set a fresh all-time intraday high at 7,889.25. “The only thing going against the bulls, alternatively in Read More …
Mar 292015
MANILA, Philippines – The Bureau of Internal Revenue has laid down a uniform scale of compromise penalties to be applied for violation of tax laws and regulations. BIR commissioner Kim Henares said the uniform application of compromise penalties is in line with efforts to curb if not eradicate tax evasion. Compromise penalty refers to a certain amount of money which the taxpayer pays to compromise a tax violation and avoid criminal prosecution. Accordingly, a taxpayer may offer a compromise penalty lower than the prescribed amount but which may only be accepted upon approval by the BIR commissioner or the concerned deputy commissioner/assistant commissioner or regional director. In the same way, such schedule of compromise penalties shall not prevent these BIR officials from accepting a compromise amount higher than what is prescribed. Certain acts or violations commonly resorted to by taxpayers to evade payment of tax had been deleted from the coverage for falling under the definition of fraudulent means. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 These include misrepresentation, willful failure to submit annual alpha list of payees and employees in the prescribed format, willful falsification of any report or statement on any examination or audit, knowingly making false entry in the books of accounts, keeping of two or more sets of books of accounts, willful attempt to evade any tax obligations, deliberately using fake receipts, letters of authority, and unlawful divulgence of any confidential information regarding the business. Cases involving fraud would be referred to the concerned Read More …
Mar 292015
MANILA, Philippines – Petron, the country’s largest oil refiner and retailer, is aiming to boost its market share on the back of dwindling oil prices. Petron senior vice president and chief finance officer Emmanuel Erana told The STAR in an interview last week on the sidelines of Latham & Watkins annual investment conference that the oil firm sees its market share shooting up this year as declining oil prices in the world market are expected to take its toll on the small players. “The last nine months also tested the resiliency of new players. The continuous falling prices are very costly for them. It is something that they’re not built for. Because for them, they’re supposed to make money out of the basic business that ‘you’re in, you’re out’ fast. They have a two-week inventory period and for the last nine months that has been proving to be disastrous for them. So naturally, they’ll slide back,” Erana said. Data from the Department of Energy (DOE) showed that Petron’s overall market share in the first half of 2014 stood at 37 percent, the largest among all players. Together with other oil majors Chevron Philippines and Pilipinas Shell, the Big Three cornered 71.1 percent of the market. The independent players, meanwhile, which include smaller retailers such as Phoenix Petroleum, PTT Philippines Corp., Total Philippines and Seaoil Corp., among others, captured the remaining 28.9 percent of the market. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “At the end of the day, Read More …