Apr 252017
 
Reading Club 24/7 offers rules-free library in Makati

The Reading Club 2000 is offering to loan books to anyone – for free, without a library card or payment. The informal library right at the doorstep of an ancestral house in Balagtas St. in La Paz Village, Makati City was built in 2000 by Hernando Guanlao also known as Mang Nanie as a tribute to his parents who were both booklovers when they were alive. Mang Nanie hoped to encourage the local community to share his joy of reading. "I saw my old textbooks upstairs and decided to come up with the concept of having the public use them," Nanie, a former tax accountant, says in the club’s website.  So he put the books – a collection of fewer than 100 – outside the door of his house to see if anyone wanted to borrow them. They did, and they brought the books back with others to add to the collection – and the library was born. The Reading Club 2000 is open twenty-four seven, seven days a week and is rules-free – no membership, no borrower’s card, and no identification card needed. Visitors have also no limit on the quantity of books they can take. One may even choose to keep the books or return them. "I encourage sharing with their neighbors when they are done," Nanie explains. When asked if the rules-free library would be taken advantage of by anyone who would take all the books, Nanie shakes his head and says: "The books have multiplied." Guanlao Read More …

Apr 252017
 
Is power dressing necessary?

Armando Bartolome Power dressing can help you make a good first impression. You should always be clean and neat but not too flashy. Some people think power dressing means having to dress up in designer clothes. If you happen to see someone in designer clothes from head to toe, what would be your first impression?  Others may be in awe at how much the whole ensemble costs. But as a professional or a businessman, it may be speaking too loud that the real person is ignored. Simply put, power dressing should not be measured by the cost of the clothes, but by its ability to evoke authority, competence, and confidence. People can judge others based on their clothes. How can you trust or respect a boss who comes to work like he just came from a basketball game? Dressing appropriately invites respect. TIPS ON HOW TO DRESS FOR SUCCESS Choose formal wear especially when attending business meetings. Nothing much can go wrong when a man in business suit comes in. It spells power and authority. Women can dress themselves in more ways compared to men. But they also need to tone down their style, no deep v-necks, or too sheer blouses. Feel comfortable in what you wear. You may be tempted to wear something fashionable. But if you really are not into the kind of style, it might make you feel uneasy. It can affect your confidence, thus it can resonate inside the room. When we speak of power dressing, Read More …

Apr 242017
 

Can the Bureau of Internal Revenue (BIR) issue an assessment even after the lapse of the three-year prescriptive period even if it is clear that no fraud was committed? This is the question I usually received from clients. And my answer to this question is, “Yes.” The general rule is that the BIR is given three years to issue an assessment against a taxpayer. However, Section 222 of the Tax Code of 1997, as amended, provides three instances where the prescriptive period is extended to 10 years from discovery. These are: (1) if the return is false; (2) if the return is fraudulent with the intent to evade taxes; and (3) if no return is filed. Among these three cases, the issue normally lies in what constitutes a false return. Would a simple mistake make a return false for purposes of applying the 10-year prescriptive period?

Apr 232017
 

(First of two parts)Claims for preferential tax treatment under applicable tax treaties have long been a challenge for non-resident income earners, income payors or withholding agents, as well as the Bureau of Internal Revenue (BIR). This is particularly significant considering that the Philippines has a wide and expanding network of effective tax treaties. Notably, there are 41 such treaties as of Jan. 1 2017.

Apr 232017
 

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