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FILIPINOS spend more time on social media than anyone else in the world, according to a recent global study conducted by the social media marketing firm, We Are Social. As of January this year, 58 percent of the country’s population (around 60 million Filipinos) is connected to the internet. The study added that in 2016, Filipinos spent an average of 4.17 hours daily on social media; 3.6 hours of which (three-quarters of that time) were spent using their smartphones.

Does the current Bank Secrecy law serve as a citadel for investors or depositors against possible abuse of power by the government, or does it provide a shield for tax evaders? Balancing of interests is a continuing challenge for the State, and with the advent of the tax reforms of the Duterte administration and with the introduction of House Bill 4774, the need to balance these interests once again arises.

How do I value my company, a client recently asked me. The client’s company has been in the red, losing money for years, but a buyer is still interested. Many of the entrepreneurs have been asking the same question: how does one figure out the value of a business? For a famous example, how did Jollibee come up with a P3 billion price for a 70 percent stake in Mang Inasal way back in 2010?

February 14, Valentine’s Day. To some of us, it’s the most romantic day of the year. Others dread it. But to Philippine Economic Zone Authority (PEZA)-registered entities, it’s a mere 14 days before the submission of its latest requirement.

It is axiomatic in a democratic society that no one should be deprived of life, liberty or property without due process of law, i.e., to be given a chance to heard and present a case according to the rules set forth by the authorities before any action can be taken. Failing this, any action of the government to take one’s life, liberty or property is void and of no effect. In a recent decision promulgated by the Court of Tax Appeals (CTA) in Mannasoft Technology Corp. vs. Commissioner of Internal Revenue, CTA Case no. 8745 dated Jan. 13, 2017, the CTA Third Division reiterated the importance of strictly adhering to the rules set by the Bureau of Internal Revenue (BIR) in conducting tax assessments.

DO YOU ever read the online portal terms and conditions before logging in to a website or the user agreement before signing up with social sites like Facebook, Twitter, Pinterest and LinkedIn? Do you take the time to understand the fine print of a loan, investment, insurance or credit card application form before affixing your signature? Do you give a second thought when you write in your complete name and birth date in surveys?

New technology, and the new applications we devise for it, is transforming the business landscape more quickly than we ever thought, impacting not only the newly created roles within our organizations, but our entire workforce. Given this scenario, how does a company now create a stream of high-quality talent with the relevant skills? Grant Thornton suggests some key areas that need to be considered to sustain business growth:

With the current administration, we are finally seeing steady developments on tax reform. On Jan. 17, the first package of the program, covering a proposed reduction in personal income taxes and an increase in consumption taxes, was filed with the House of Representatives. This would be the closest we have got to finally seeing progress towards a simplified, fair and more efficient tax system. Is change finally coming? Will this change truly reduce poverty and promote inclusive growth in the Philippines? Let us hope so.