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One common issue that hounds Filipino families is failure to take full advantage of properties they have inherited from their ancestors. It has become commonplace to see a lot of these properties which are either still under the name of deceased relatives or co-owned by heirs as part of their legitime. Now, relation and geographical distance among these heirs worsens the situation, making such properties sit idle for years. Simply put, interested heirs cannot sell these properties as the transfer of such properties has been made more complex by numerous processes and fees. These costs include estate taxes. Often, paying estate taxes requires heirs to shell out huge amounts of money due to interests and surcharges, especially for properties that were inherited a few generations back.

The Bureau of Internal Revenue has issued Revenue Regulations (RR) No. 13-2021 to implement the penalty provisions under Sections 76 to 80 of Republic Act (RA) No. 10963, otherwise known as the Tax Reform for Acceleration and Inclusion Law or the TRAIN Law, amending Sections 254 and 264 of, and adding Sections 264-A, 264-B and 265-A to, the Tax Code.

THERE is a common acknowledgement that the quality of our education system is quite low. This observation, without doubt, has been validated by the poor results of the performance of our students in periodic international assessments of achieved learning.

The coronavirus disease 2019 (Covid-19) pandemic can be considered the greatest challenge that education has faced in modern times, significantly disrupting institutions worldwide and billions of learners of all ages. In response, academic institutions conducted courses online and faculty and staff worked remotely due to safety and travel restrictions. Virtual setups have since become the new norm, from teaching and learning to graduation ceremonies. The dire circumstances have effectively removed face-to-face group learning in all educational levels and changed the online learning landscape.

Mental health includes our emotional, psychological, and social well-being. If we find it difficult to handle stress, relate to others, and make choices, then there might be a problem. This is generally applicable to all, and with a lot of problems in today’s trying times and various tax rules to think about, these can take their toll on taxpayers’ mental health.

INVESTMENTS and in the case of the Philippines, foreign investments, is a big factor in driving economic growth. Unfortunately, for the past many years, the country has been behind most of our neighbor countries in attracting foreign investments. This low performance is a major reason why the Philippines has lagged behind most of the Association of Southeast Asian Nations members in historical economic growth. We simply have not been competitive.

SINCE about five decades ago, the Philippine economy has gone on what appears to be an irreversible downward spiral in comparison with our now nine Association of Southeast Asian Nations (Asean) neighbors. As shown in a World Bank report, in 2020, the Philippines ranked No. 6 in per capita income (gross domestic product) at almost $3,000. Vietnam appears to be catching up on us soon, making us No. 7 and just ahead of Laos, Myanmar and Cambodia. We used to be No. 1.

THE onset of catastrophic events has always kept the world at a standstill at one point or another. This was particularly the case when the dreadful coronavirus disease 2019 (Covid-19) pandemic hit. Economic growth slowed while companies grappled with the underlying financial impacts of this event. When the health crisis wreaked havoc, it left businesses rethinking their operational and leadership strategies. Amid all the repercussions of the pandemic and other catastrophic worldwide events, a new concept is gradually becoming the new business reality - sustainability.