Ralph Recto: Candidate for Senator

[maverickjazzy]

^^ Well, I'll give similar applause to you coz you finally ran into a wall. If you need help, better call somebody then...

Multinational companies normally file the tax return here in behalf of their parent companies or stockholders abroad. Withheld na pag na-remit ang dividend or ang branch profit. OFW's earn their income abroad so they are not taxed here. It's that simple. I didn't invent the provision of the law, or are you insinuating that I manufactured it? Of course, knowing you, we'd find a dissenting opinion somewhere kahit nakasulat na sa batas. Hay, its back to school for you bud, if you really cannot comprehend it.

WOW! di mo naintindihan ang pinag-uusapan natin. Alam ko po na binabawasan ng tax ang earnings ng mga multinational companies, eto po yung corporate income tax, so binabawasan nga ng tax ang earnings ng mga stockholders sa bank and im not disputing that.

Ang sinasabi ko dito ay yung personal income tax ng mga stockholders. Sinabi mo before ang owner ng bank where i work is culpable of tax evasion or misdeclaration. sabi ko di lang isa ang owner ng bank kundi marami dahil corporation ito. Sabi mo ganun pa rin culpable pa rin sila for tax violation. In what form? we're assuming here that it is personal income tax, so if these stockholders don't live and/or work here they are not required by law to file their PERSONAL INCOME TAX.

Pag sinabi mo naman na culpable sila for tax violation through the bank's corporate income tax, how is that possible? Can the thousands of stockholders dictate the bank's management to misdeclare their income or earnings? Nasabi ko na po ito sa mga previous posts na hindi ito gagawin ng bangko at mahihirapan silang gawin. Uulitin ko po dahil baka di mo naintindihan yung mga posts ko.

Una : Perceptions - ang bangko di magdi-declare na mas mababa ang earnings nila o di kumikita dahil makakasama ito sa image nila. Mas gusto i-declare ng bangko na kumikita sila ng malaki para pang-advertise sa mga tao na matatag ang kumpanya. Siyempre pag nalaman ng mga tao na maganda ang financial status ng bangko duon po sila magdedeposito.

Pangalawa: May mga safeguards po ang gobyerno at Bangko Sentral ng Pilipinas (BSP) para hindi makapandaya ang mga bangko sa finacial statements nila. Inu-Audit po ng BSP ang mga Bangko at least once a year minsan pa nga twice a year, so mahihirapan ang bangko magmisdeclare ng earnings.

I hope naintindihan mo na kasi paulit-ulit lang tayo.
Life is a continuous learning process, so even if you dont remind me I always try to learn something everyday. BTW, please post a link of your evidence so that you can teach us tax law ignoramus.

[maverickjazzy]

[quote=Altis6453;833174]

Was the additional 2% vat helpful? Sure, but that's only looking at the fiscal side of the economy. Tama ka dumami ang pera na pangbayad utang ng gobyerno. The other dimension would be the human side of your tax base. It lessens the ability to spend for other goods and services such as health care, medicine, education, not to mention the difficulty in getting basic services such as electricity and water which are now subject to vat

by the way you mentioned that basic services were affected by evat, sure it was, but in the long term a stable and strong financial standing of the country would redound for the benefit of the people. here's the reason, btw meralco has filed or petitioned the power producers for the lowering of the cost of electricity because of the strong peso.


Manila Water, Maynilad to cut rates July 1 Water regulator Metropolitan Waterworks and Sewerage System (MWSS) has allowed its concessionaires to reduce their Foreign Currency Differential Adjustment (FCDA) starting July 1 because of the continuing strength of the peso against the US dollar.

The FCDA is a pricing mechanism that allows concessionaires to recover their foreign currency losses that stem from payments of concession loans and foreign currency-denominated borrowings. It is adjusted quarterly, depending on the performance of the peso.

In a statement, MWSS said the meter reduction in the east zone, which is under the Manila Water Co., is P0.37 per cubic meter.

The downward adjustment for the west zone, which is operated by Maynilad Water Services, Inc., is P0.41 per cubic meter.

"The [MWSS] board finds sufficient basis for decreasing the water rates to enable water consumers to better appreciates the gains of the Philippine peso in the market," said Oscar I. Garcia, chairman of the MWSS Board of Trustees.

Since January last year, water tariff has been reduced six times mainly due to the strong peso.

In a disclosure before the Philippine Stock Exchange, Manila Water said its price adjustment translates to a reduction by 2.36% of the basic charge or around 0.6% reduction in the total water bill.

Last April, the water utility decreased its FCDA by P0.28. The adjustment in FCDA means a reduction of about P2 in the monthly bills of ordinary non-sewered households in the East Zone, which consume around 30 cubic meters per month.

On the other hand, the Maynilad’s rate reduction would reduce tariffs by P2.64 per cubic meter per month for customers who consume 30 cubic meters.

Small enterprises that consume 30 cubic meters of water will have a reduction of P3.43 per cubic meter while customers who consume an average of 100 cubic meters per month will have a reduction of P25.05 cubic meters per month, a source from the company said.

Sewered residential customers who consume an average of 30 cubic meters will have a deduction of P3.63 per cubic meter.

Those who consume 100 cubic meters will have a P36.44 reduction.

Regulator MWSS approved the FCDA reduction thru a resolution dated June 14. — Alexis Douglas B. Romero

[Galactus]

Cool it guys, no need to resort to name-calling.

Maganda sana yung pinag-uusapan nyo, and I'm sure a lot have been enlightened. Kaya lang, wag sana kayong mag-away dito.

[mazdamazda]

There's no need to resort to name-calling to get your point across...

That also goes the same for maverickjazzy.

That's an infraction for both of you.

Edit: Deleting Altis' reply as per his request (and to avoid escalating this further).

[yebo]

and while you're at it, palitan na din ang title ng thread as it is NOW misleading. this thread has been hijacked from its original topic to what is now a debate on the evat.