NOT MORE FUN TO BE A RETIREE IN THE PHILIPPINES

BALITA KAY JUAN Not more fun to be a retiree in the Philippines By Stuart C. Jones Managing Director CitiBank N.A. Hong Kong Philippine Retirement Authority (PRA) retiree from UK risks losing required deposit in Export and Industry Bank. In 2004, under the auspices of the Philippine Retirement Authority (PRA), my mother, Mrs Kitty Vera [...]

Revillame pays more taxes than Henry Sy and Manny Pacquiao

KUWENTO NI JUAN Revillame pays more taxes than Henry Sy and Manny Pacquiao By Mang Juan Pinoy   Celebrities like Wilfredo “Willie” B. Revillame and businessmen like San Miguel Corp. top honcho Ramon S. Ang landed on the Bureau of Internal Revenue’s (BIR) list of the biggest taxpayers for 2009, along with telecommunication giants Smart [...]

SC:Use of tollway is a privilege that comes at a cost (with 12% EVAT)

KUWENTO NI JUAN SC:Use of tollway is a privilege that comes at a cost (with 12% EVAT) By Mang Juan Pinoy FOLLOWING the Supreme Court’s lifting of the restraining order on the implementation of the 250-300% toll increase, the Supreme Court advised motorists to take alternate roads if they do not want to pay high [...]

The richest Filipinos and the biggest taxpayers are not the same

BALITA KAY JUAN The richest Filipinos and the biggest taxpayers are not the same By Tony Lopez The Manila Times.Net According to Forbes maga-zine, the richest Filipinos and their respective networths are: 1. Henry Sy Sr., $5 billion; 2. Lucio Tan, $2.1 billion; 3. John Gocongwei, $1.5 billion; 4. Jaime Zobel de Ayala, $1.2 billion; [...]

By minimizing corruption, we maximize government revenues

KUWENTO NI JUAN By minimizing corruption, we maximize government revenues By Mang Juan Pinoy The Aquino fiscal team is on high gear on their administration priority agenda to recover revenue losses from tax cheats. They have launched an aggressive campaign to squeeze much desired tax payments from delinquent taxpayers to generate funds to subsidize the [...]

‘Imposing a tax on a tax’ is highway robbery

KUWENTO NI JUAN ‘Imposing a tax on a tax’ is highway robbery By Mang Juan Pinoy At a hearing of the Senate ways and means committee chaired by Sen. Ralph Recto, Revenue Commissioner Kim Jacinto-Henares refused to budge from her decision to impose the tax on toll. Commissioner Henares argues that as a general principle in [...]