Editorial Cartoon July 28, 2022


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Fast-tracking progress through the Internet

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One Nation Undernutrition: When inequality brings death, malnutrition to PHL’s doorsteps 

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Can PHL escape global recession?

The World Bank has raised the specter of a global recession as central banks around the world have been raising interest rates this year with a degree of synchronicity not seen over the past five decades—a trend that is likely to continue well into next year.

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September–A great month to be born

Legends are born in the month of September. A number of Filipinos who made names in our history, both heroes and anti-heroes, saw the first light of day in September. Four of our presidents are September-born beginning with Sergio Osmeña Sr. who became our country’s president following President Manuel L. Quezon’s death on August 1, 1944 while in exile in the United States during the 2nd World War. He was born on September 9, 1878 in Cebu. 

Tax Law for Business | Atty. Irwin C. Nidea Jr.
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Pay as you file

Tax compliance is an important part of a company’s day to day operations. There are many filing dates to monitor. Value-added tax, documentary stamp tax, excise tax, withholding tax, quarterly and annual income tax for example, have different filing deadlines. A company does not merely file a tax return but is also supposed to determine and compute the correct amount of tax to be paid, have it approved by management, and coordinate with the bank for the release of money to the Bureau of Internal Revenue (BIR). What if a company timely files a tax return but fails to pay on time? What is the penalty? What is the remedy of a taxpayer when this happens?