New guidelines in securing tax exemption ruling for separation pay

 Economy
Dec 122016
 

Here is some good news: Issuance of rulings on the tax exemption of benefits paid to employees separated because of retrenchment or closure of the business are now devolved to the Revenue District Offices (RDOs) of the Bureau of Internal Revenue (BIR). As we all know separation pay received by an employee, or his heirs, because of death, sickness, or other physical disability, or for any cause beyond the control of the employee, is exempt from income tax, and consequently from withholding tax pursuant to Section 32(B)(6)(b) of the Tax Code. Cause beyond the control of the employee includes retrenchment due to redundancy or installation of labor-saving devices, or due to closure of the business.

The impact of IFRS 15 on the telecom industry

 Economy
Dec 112016
 

IFRS 15, Revenue from Contracts with Customers, the highly anticipated revenue standard issued by the International Accounting Standards Board (IASB), will change the rules for revenue recognition. IFRS 15 replaces all existing revenue recognition standards and provides companies and industries a comprehensive and consistent set of guidelines by which to account for revenue transactions and in preparing relevant disclosures.

Duterte a ‘murderer,’ says De Lima

 Entertainment
Dec 102016
 
Duterte a ‘murderer,’ says De Lima

Senator Leila de Lima ,President Benigno Aquino III , New Bilid Prison,Justice Secretary, Vitaliano Aguirre II , Liberal Party MANILA, Dec 8 (Mabuhay) – Without mincing words, Senator Leila de Lima on Thursday called President Rodrigo Duterte a “murderer.” “People of the Philippines, your President is a murderer,” De Lima said in a statement. She noted Duterte’s statement Wednesday that he would not abandon the police allegedly involved in the November 5 killing of Albuera Mayor Rolando Espinosa Sr. because it was his order to shoot those who would resist arrest. “That is an admission that he is the mastermind of such extrajudicial killing (EJK),” the senator said.“That says it all about the EJK phenomenon.” She added, “Together with Edgar Matobato’s testimony on the Davao Death Squad (DDS), Duterte’s admission seals his fate as the Father of all EJKs, first in Davao City, now throughout the entire Philippines, with the number of his victims now beyond the five thousand mark, and still rising.” Matobato, who claimed to be a former member of the DDS, has accused Duterte of masterminding the killings in Davao City when the President was still mayor. De Lima said this also meant that Supt. Marvin Marcos, sacked head of the Criminal Investigation and Detection Group (CIDG) in Eastern Visayas, and some of its members allegedly involved in Espinosa’s killing were part of the “expanded DDS,” which she said is now national in scope and operation. “Nothing can be clearer than that. What we now have is Read More …

Erik Matti: Give indie MMFF entries a chance 

 Entertainment
Dec 102016
 
Erik Matti: Give indie MMFF entries a chance 

Erik Matti (MNS photo) Director Erik Matti said that those criticizing the eight finalists of this year’s Metro Manila Film Festival should watch the films first before passing judgment, triggering an avalanche of support from his fans who have been vocal about their cynicism over the quality of past entries. Days after it was revealed that the film festival’s screening committee have decided to snub more commercial works from big budget studios for independent films, the “Honor Thy Father” director sounded off on Facebook against the backlash. “Hinay hinay sa paghamak at paginsulto ng salitang INDIE na parang ito’y may ketong na dapat layuan,” Matti, whose “Seklusyon” is included in the so-called “Magic 8,” wrote. “Ang indie at mainstream ay parehong pelikula rin lang at wag na po ihiwalay sa isa’t isa.” “Ang indie, tulad ng mainstream, ay pwedeng malalim o mababaw, matalino o stupido, nakakatawa o nakakaiyak, commercial o artistic, pambata o pangmatanda o panghugot, cheap o big budget. Pareho pong pelikula yan.” “Panoorin n’yo muna ang mga pelikulang napili sa [MMFF]. Merong pagbabagong naganap sa [MMFF 2016]. Bigyan naman natin ng chance na umubra bago husgahan. Lalabas din naman si Vice, si Vic at si Chinoy kahit di nakasali e,” he added. Matti was referring to studios like Star Cinema and Regal Entertainment, which will be releasing their entries, Vice Ganda and Coco Martin’s “The Super Parental Guardians” and Richard Yap’s “Mano Po 7: Chinoy,” ahead of the annual film festival. Matti’s post on Facebook has since garnered Read More …

Cops involved in Espinosa raid still under restrictive custody –PNP

 Entertainment
Dec 102016
 
Cops involved in Espinosa raid still under restrictive custody –PNP

PNP chief Dir. Gen. Ronald ‘Bato’ Dela Rosa presents suspected Eastern Visayas drug lord Kerwin Espinosa to media at Camp Crame early Friday morning, November 18, 2016. Espinosa, son of slain Albuera Mayor Rolando Espinosa, is the alleged Eastern Visayas drug lord. Espinosa was brought to Manila after five months of hiding in Abu Dhabi. (MNS photo) MANILA, Dec 3 (Mabuhay) — The policemen involved in the raid which led to the death of Albuera Mayor Rolando Espinosa Sr. are still under restrictive custody even though they were allowed to leave Camp Crame, an official of the Philippine National Police’s (PNP) Internal Affairs Service (IAS) said Saturday. IAS Chief of Staff Maria Lynberg Constantinopla made the clarification following reports that the restrictive custody status of Police Supt. Marvin Marcos and 17 other policemen involved in the raid had been lifted. “In fact, there is no actual lifting of restrictive custody. They were just allowed to go home to get some information for attachment on their counter-affidavit,” Constantinopla said. She added that PNP personnel are supervising the cops in Leyte while they are getting the necessary documents for their counter-affidavits, which will be submitted on Monday. PNP Chief Director General Ronald “Bato” dela Rosa relieved Marcos and other officers over the slay of Espinosa. In November, suspected drug lord Kerwin Espinosa claimed that he bribed Marcos with at least P3 million to lay off operations against his drug trade. (MNS)

Some Miss U candidates to arrive in PHL on Friday for kickoff party

 Entertainment
Dec 102016
 
Some Miss U candidates to arrive in PHL on Friday for kickoff party

Eleven Miss Universe 2016 candidates were presented during the media briefing held at the Department of Tourism (DOT) head office in Makati City on Monday (Dec. 12, 2016). They are (standing from left to right) Miss Korea Jenny Kim, Miss China Joyce Li, Miss Vietnam Dang Thi Le Hang, Miss Myanmar Htet Htet Tun, Miss New Zealand Tania Pauline Dawson, Miss Japan Sari Nakazawa, Miss Philippines Maxine Medina, Miss Indonesia Kezia Roslin Cikita Warouw, Miss Malaysia Kiranmeet Kaur Balijeet Singh, Miss USA Deshauna Barber, and Miss Thailand Chalita Suansane. The Philippines previously hosted the Miss Universe pageant twice, in 1974 and 1994. (MNS photo) MANILA, Dec 7 (PNA) – About 11 candidates of the prestigious Miss Universe pageant will be arriving in Manila on Friday (Dec 9) to lead a kickoff party a month before the country hosts its coronation night on January 30, 2017. Department of Tourism (DOT) Secretary Wanda Teo told reporters that 11 candidates will spearhead a kickoff party in the Conrad Hotel in Pasay City as a “preview” to one of the world’s most-watched beauty pageants. The kickoff party will be attended by candidates from USA, Japan, Australia, China, Korea, New Zealand, Indonesia, Malaysia, Myanmar, Thailand and Philippines. Reigning Miss Universe Pia Wurtzbach will also be present in the event, which will be arranged by one of the event’s main partners, Solar Entertainment Corp. Teo said the hopefuls are expected to visit Siargao on Dec. 11 and Cebu on Dec. 12 to begin photoshoots and tour Read More …

Bianca, Miguel not rushing into having relationship 

 Entertainment
Dec 102016
 
Bianca, Miguel not rushing into having relationship 

Bianca Umali (MNS photo) Bianca Umali is definitely one of the most promising young stars of GMA today. A former child star, she’s getting prettier and sexier by the day. She was first paired with Miguel Tanfelix in “Paroa, Kuwento ni Mariposa” four years ago and since then, their BiGuel teen loveteam has gained its own legion of fans. “Four years na ‘yung loveteam namin but we got to know each other as child stars seven years ago pa when I was only nine,” says Bianca. “So ganun na namin katagal na kakilala ang isa’t isa. We saw each other growing up.” So what’s the real score between them now? “We’re very good friends pa rin po. Hindi kami nagmamadali kasi 16 pa lang naman po ako, never been touched, never been kissed. At siya naman, he just turned 18.” “Kaya sana po, huwag nyo kaming madaliin,” says Miguel, who’s been appointed as Youth Ambassador of the U.N. Population Commission for being a good and wholesome role model in maintaining his belief in being pure before marriage. “Basta sa ngayon, we’re so happy na mas nagiging closer ang relationship namin as good, good friends. Mas priority namin ang career and studies. Ako po, araw-araw pumapasok sa La Salle for entrepreneurship.” They’re now paired anew in another show, “URL (Usapang Real Love)”, billed as the first interactive rom com on Philippine TV. (MNS)

Sarah G, Ebe Dancel win big at 29th Awit Awards

 Entertainment
Dec 102016
 
Sarah G, Ebe Dancel win big at 29th Awit Awards

Sarah Geronimo (MNS photo) MANILA, Dec 8 (Mabuhay) — Sarah Geronimo and Ebe Dancel took home the top honors at the 29th Awit Awards held at the Music Museum on Wednesday. Geronimo won Album of the Year for “The Great Unknown,” while Dancel bagged the Song of the Year award for “Bawat Daan.” Dancel also won Best Inspirational Recording, Best Engineered Recording, Best World Music Recording, and Best Song Written for Movie/TV/Stage Play for the hit series “Ang Probinsyano.” Daryl Ong won Best Male Recording Artist for “Mabuti Pa,” while “The Voice Kids” coach Bamboo took home the Best Rock/Alternative Recording award. Aiza Seguerra was given the Best Ballad award for her rendition of “Araw Gabi,” while the “Dangal ng Musika” honor was given to the 1970s musical group Boyfriends. The 2016 Awit Awards was hosted by Matteo Guidicelli and Tippy Dos Santos. Here is the full list of winners of the 29th Awit Awards: Best Inspirational Recording – “Bawat Daan” by Ebe Dancel Best Christmas Recording – “Apat na Buwang Pasko” by Jon Santos Best Performance by a Child – “Believe in Magic” by Julia Concio Best Musical Arrangement – “Pero” by Conscious and the Goodness Best Vocal Arrangement – “Waters of March” by Moy Ortiz Best Engineered Recording – “Bawat Daan” by Ebe Dancel Best Album Package – “Greetings from Callalily” by Callalily Best World Music Recording – “Kasayaw” by Ebe Dancel Best Novelty Recording – “Siopao na Pag ibig” by K.A. Antonio Best Song Written for Movie/TV/Stage Read More …

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