THE Department of Agriculture (DA) is preparing a 2017 budget proposal of nearly double its 2016 funding, with rural infrastructure making up the bulk of its wish list, according to the department’s presentation materials obtained by BusinessWorld.
One of the withholding tax schemes adopted in the Philippines is the creditable withholding tax (CWT) system. Under the CWT, income payments made to Philippine residents enumerated in the CWT regulations should be subjected to the different CWT rates. The income subject to CWT still needs to be reported in the income tax return of the recipient, the income tax calculated thereon, and the CWT claimed against the CWT so withheld. Any excess of the tax income due on the return over the CWT withheld should then be paid by the recipient to the Bureau of Internal Revenue (BIR). On the other hand, if the CWT exceeds the income tax due on the return, then the excess CWT may either be refunded or carried over to the next period by the taxpayer.
With less than three weeks to go before election day, candidates are now making last minute pitches to the voting public, hoping that they will be able to come out on top of their political rivals on May 6. Davao City Mayor Rodrigo Duterte’s numbers in surveys continue to rise, despite being pilloried by his political rivals for being a self-confessed womanizer, head of a death squad vigilante group and a vulgar. Duterte was also recently censured severely by his critics for his “uncivilized” remark about the rape and murder of an Australian missionary during a prison riot in Davao in 1989. Some political observers are saying that Duterte’s “joke remark” on the rape and murder of the Australian missionary could have a backlash on voters come election day. Some are even saying that his numbers in surveys will significantly go down since most of his supporters might have been disgusted about his remarks on the death of the missionary. With the election coming in less than three weeks, I doubt if Duterte’s political supporters will abandon the feisty city executive from Mindanao. People are tired of empty promises of traditional politicians that no one believes anymore. Duterte’s no-nonsense drive against crime, illegal drugs and corruption are the reasons why voters remain loyal to him. He is the exact opposite of President Aquino, who is a weakling and a do-nothing and indecisive leader. Duterte, on the other hand, is hard worker and an honest politicians for years. He gets things done Read More …
By Jelly F. Musico MLQU president Dr. Isagani Germar confers on President Benigno S. Aquino III the Doctor of Public Administration Honoris Causa in a ceremony during the 68th Commencement Exercises of the Manuel L. Quezon University (MLQU) at the Harbour Garden Tent of the Hotel Sofitel Philippine Plaza Manila in Pasay City on Wednesday (April 20). Also in photo are Commission on Higher Education (CHED) chairperson Patricia Licuanan and MLQU chairman Jose Rizalino Acuzar.(MNS photo) MANILA (PNA) – President Benigno Aquino III on Thursday defended the use of presidential chopper by her sister Kris Aquino in the launching of a project in Negros Occidental last Tuesday. In a media interview in Lipa City, the President explained that the presidential sister being one of the country’s big individual taxpayers deserve to see the successes of his administration. ”Whether as an individual taxpayer or somebody who was very close to me, who shared all of the burdens, I think it’s just but proper na i-share naman the successes, share kami sa hirap, share ko na rin ‘yung success,” the President said. President Aquino said his sister, a popular actress and TV host, had volunteer to join him. ”Gusto ko namang ipakita sa kanya: Tingnan mo ang resulta na talagang nagiging makabuluhan at may saysay itong demokrasyang ipinaglaban ng mga magulang natin,” he said. Last Wednesday, Presidential Communications Operations Office (PCOO) Secretary Herminio Coloma Jr. said the President’s immediate family members were not prohibited from using official government properties such as choppers Read More …
Supporters of presidential candidate Davao City Mayor Rodrigo Duterte pose for media as they launch the “Duterte Bantay Boto Brigade” (DBBB) during a press conference in Quezon City on Wednesday. The group aims to solidify its volunteer groups to help safeguard votes for Mayor Duterte, who was ahead in the latest polls. (MNS photo) KALIBO, Aklan, (Mabuhay) – Presidential candidate Davao City Mayor Rodrigo Duterte has downplayed an alleged assassination plot against him. “I live my destiny kung ano ang destiny sa buhay ko, ‘yan ang masunod, kung mamatay ako sa kampanya (I live my destiny, and if I die in the campaign), that is my destiny,” Duterte told reporters in an ambush interview here on Wednesday night. “Kung paabutin ako ng Panginoong Diyos, o ayaw niya (If God would allow me to continue to live or not), still that is destiny—that is the plan of God for me,” he added. The tough-talking mayor was asked by reporters about an alleged assassination plot against him circulating on Facebook. “I will not worry about death threat[s]. It comes naturally. Everything will be okay, everything, someday, will go away,” he said. Sought for comment, Christopher “Bong” Go, in a text message, said Jose Alejandrino “cautioned us to be careful and alert.” Go, the mayor’s closest aide and executive assistant, said Alejandrino was “Duterte’s friend and adviser.” “Para na rin maging alert mga supporters ni Mayor (So the mayor’s supporters will be alert),” he said. Go said Alejandrino phoned him to inform about Read More …
Candidates (l-r) Sen. Alan Peter Cayetano, Sen. Chiz Escudero, Sen. Gringo Honasan, Sen. Bongbong Marcos, Rep. Leni Robredo and Sen. Antonio Trillanes III pose for a group picture at the conclusion of the #PiliPinas2016 Vice Presidential Debates at the University of Santo Tomas on Sunday.(MNS photo) MANILA (Mabuhay) – Sixty-six percent of Filipino voters watched the second Vice-Presidential Debate organized by ABS-CBN on April 17, 2016, according to the Bilang Pilipino SWS Panel Mobile Survey of April 18, 2016. Among them, 33% named Leni Robredo, 28% named Chiz Escudero, 27% named Alan Peter Cayetano, and 5% named Antonio Trillanes IV as the one who came out the best during the debate. The remaining 7% of the watchers could not give an answer. Of the 1,200 members of the panel, 632 or 53% sent their responses to the April 18, 2016 Bilang Pilipino SWS Panel Mobile Survey: 168 in Metro Manila, 145 in Balance Luzon, 165 in Visayas and 154 in Mindanao. This gives sampling error margins of ±4% for national percentages, and ±8% in Metro Manila, Balance Luzon, Visayas and Mindanao. The area estimates were weighted by the 2016 Commission on Elections data on registered voters to obtain the national estimates. About 3 out of 5 across the board watched the second Vice-Presidential Debate of April 17 The proportion of voters who watched the first Vice-Presidential Debate was highest in the Visayas at 75%, followed Metro Manila at 67%, Mindanao at 64%, and Balance Luzon at 63%. It was equally Read More …
Hundreds of Philippine National Police-Reactionary Standby Support Force (PNP-RSSF) personnel assemble at the PNP headquarters on Wednesday. PNP accounted for its personnel who will be deployed around the country during the synchronized national and local elections on May 9.(MNS photo) MANILA (Mabuhay) – The Philippine National Police will deploy an additional 2,000 police for the May 9 polls. The additional police force will be deployed in election hotspots and will serve as reinforcements to areas with little police presence, PNP said. In total, almost 10,000 police will be deployed in the coming elections. This is in line with PNP’s vision of safe and clean elections. Meanwhile, the PNP urged the public to report any police personnel who would be found campaigning for candidates. Under the Ethical Doctrine Manual of the PNP, police members shall remain non-partisan. “…members shall provide services to everyone without discrimination regardless of party affiliation in accordance with existing laws and regulations,” the manual said. The PNP said the cops who will be reported campaigning for certain candidates will face administrative charges.(MNS)
Bangladesh Ambassador to the Philippines John Gomes (2nd left) talks to Senator Teofisto Guingona III on Tuesday during the Senate hearing on the $81-million money laundering heist. Hackers transferred the amount last February from the Bangladesh central bank to the RCBC Jupiter branch in Makati, after which it was laundered in casinos.(MNS photo) MANILA (Mabuhay) – The Bureau of Internal Revenue sued PhilRem Service Corp. and its husband-and-wife owners before the Department of Justice on Thursday for evading taxes worth P35.61 million. It was PhilRem which became the conduit in moving the $81 million from the Rizal Commercial Banking Corp. branch on Jupiter Street in Makati City to the casinos – where the stolen money was supposedly laundered – and other benefactors that included junket operators. PhilRem president Salud Bautista and treasurer Michael Bautista were slapped with complaints for alleged willful attempt to evade payment of gross receipts tax (GRT), deliberate failure to file percentage tax returns (PTR), and unlawful pursuit of business from 2005 to 2014. According to the BIR, PhilRem misrepresented itself when it continued to operate as a remittance firm even if it was registered as a land transport company in 2005. The complaint said PhilRem amended its nature of business with the Securities and Exchange Commission without updating its registration with the BIR. As a non-banking financial institution, PhilRem should have remitted 5 percent gross receipts tax instead of value added tax to the government, according to the BIR. “The gross failure of PhilRem to register, Read More …
Former manager says bank should return stolen money to Bangladesh MONEY LAUNDERING: Senators in a huddle during the Senate Blue Ribbon Committee hearing on Tuesday, March 15, 2016, on the alleged $100 million that was laundered in the Philippines. Photo shows (from left to right) Senators Aquilino “Koko” Pimentel III, Joseph Victor “JV” Ejercito, Sergio Osmeña III (seated), Senate President Pro-Tempore Ralph Recto, Juan Edgardo “Sonny” Angara, Alan Peter Cayetano, Teofisto “TG” Guingona III and Vicente “Tito” Sotto III. In his opening statement Guingona said that he “cannot agree to an executive session because subject funds belong to the Bangladesh government which did not invoke confidentiality.”(MNS photo) MANILA (Mabuhay) – The treasurer of Rizal Commercial Banking Corp. (RCBC) has resigned, the lender announced on Thursday, as authorities investigate its involvement in the $81-million heist on Bangladesh’s central bank. Raul Tan, who has been with RCBC for seven years, resigned effective Wednesday, according to a stock exchange disclosure. The bank did not say why Tan resigned. An internal investigation has “cleared” Tan of any participation in the $81 million caper, the bank said. He will be replaced by Carlos Cesar Mercado in an acting capacity. For its supposed involvement in the money laundering scheme, RCBC should return what should be given back to Bangladesh, a former manager of the bank said on Thursday. “Sana si RCBC ibalik din niya ‘yung dapat ibalik,” former Jupiter branch manager Maia Santos-Deguito told reporters during the Pandesal Forum at Kamuning Bakery in Quezon City on Read More …
Dawn Zulueta (MNS photo) MANILA (Mabuhay) — Former justice secretary and senatorial candidate Leila De Lima said she wants actress Dawn Zulueta to portray her in a hypothetical biographical film on her life as a government official. De Lima mused on the possibility of a film being made about her life, suggesting that it should be titled, “The Lady Justice.” “That’s the story of my life, you know, ‘yung mga nangri-raid, ‘yung lumalaban para sa katarungan,” she said. “Gusto kong mag-focus [ang film] sa nagawa ko, ‘yung paglaki ko, and then ‘yung nagawa ko. Paano ako pinalaki ng parents ko, at paano ako nagtrabaho sa mga ibinigay sa aking trabaho.” Zulueta, who is married to politician Anton Lagmadeo, has yet to express support for any candidate in the upcoming elections. In an interview back in September, she said that she will refrain from endorsing one of the five presidential candidates. “Pero hindi niyo siguro maaasahan sa akin ang makapag-endorso ng presidentiables kasi, like I said, lahat sila ay kaibigan natin,” Zulueta, at the time,