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National Internal Revenue Code of 1997 5th Edition
Finally, after much debate and months of delay, the Implementing Rules and Regulations (IRR) of Republic Act (RA) No. 10708, otherwise known as the Tax Incentives Management and Transparency Act (TIMTA), have been finalized and jointly issued by the Department of Finance (DoF) and Department of Trade and Industry (DTI) through Joint Administrative Order No. 1-2016. TIMTA aims to monitor and evaluate the fiscal incentives granted by investment promotion agencies (IPAs), such as the Philippine Economic Zone Authority (PEZA), Board of Investments (BoI) and others.
In today’s digital and social media world where company’s actions, strategic decisions, press releases and statements, andeven the behavior of top executives could be talked about, applauded, criticized, or condemned, brand building and reputation management become more important than ever. Thus, both have become regular agenda in boardroom discussions and hot topics at business gatherings. Considering the importance of these topics, P&A Grant Thornton held its 4th Growth Series, featuring two experts: Sarah Croot, the head of business development at Grant Thornton International (GTIL) and Chiqui Escareal-Go, the founder and CEO of Mansmith and Fielders.
We have come to a time when we are no longer afraid of change. We welcome change, believing that such will be a catalyst for improvement. We are all very excited by blow-by-blow developments. We have seen it slowly happening within the ranks of the Bureau of Internal Revenue (BIR) vis-à-vis the proposed amendments of the Tax Code.
You’ve spent countless years—and money—investing profits back into the business in an effort to stay ahead of the competition. Or maybe the simple fact is, people want what you have and organizations have started knocking at your door. What are your options?
The Japan International Cooperation Agency (JICA) has pegged at P2.4 billion the loss of potential income that the traffic jam in Metro Manila has caused every day in 2014 and P3 billion in 2015. The amount of the loss and the percentage of increase in a span of one year are staggering
The concept of Federalism has recently been getting special attention in Philippine political circles. Judging by the constant talk about it, it appears our elected officials are determined to push efforts to adopt a form of Federalism through Constitutional amendment as the new basis of the political and economic union of the Filipino people.
There is a clamor to amend the rules in order to make tax rates more equitable. We have high hopes that the administration will see through the amendments to the Tax Code. It is important to note, however, that while the Tax Code amendments are hammered out, taxpayers have another opportunity to lower their annual income tax due, through the Personal Equity and Retirement Account (PERA) Act of 2008 (R.A.9505).
In a 2016 report by WeAreSocial says 47.1 million Filipinos are active internet users and millennials represent 41 percent of these “wired” segment. And, some say that the last election was fought “in the streets of cyber.” Internet users are typically impatient and spirited in voicing out their opinion on almost anything; even telling stories which may be truthful but often spiteful and distorted. Stories became so personalized that family members and lifelong friends separated ways (How many did you ‘unfriend’ from Facebook?).The use of the internet is so open and so pervasive that somewhere in the World Wide Web, someone maybe talking about you and he may not be saying the most flattering things. Or worse, he may be plotting against you.
