Mon Abrea, CPA, MBA, writes for Management Association of the Philippines where his write-ups are being published in Business World or Philippine Daily Inquirer, online and paper.
Republic Act No. 11954 constitutes the Maharlika Investment Corporation (MIC) as the government-owned and -controlled corporation (GOCC) tasked with the management of the Maharlika Investment Fund. The capitalization is more outlined, with a capital stock of P500 billion to be divided into P375 billion common shares and P125 billion preferred shares. Of the P375 billion …
The caveats and promises of Maharlika Investment Fund Read More »
ACG Chief Tax Advisor, Mon Abrea, shares insights into the pivotal role of Micro, Small, and Medium Enterprises (MSMEs) in the Philippines in his recent article published via the Philippine Daily Inquirer. Constituting 99.58 percent of all businesses, MSMEs contribute significantly to employment and exports, yet they grapple with considerable challenges, particularly corruption. “Corruption is …
ACG chief advocates anti-corruption measures to empower Philippine MSMEs Read More »
Micro, small and medium enterprises (MSMEs) contribute significantly to the economy. According to the World Bank, small and medium enterprises contribute up to 40 percent of gross domestic product in emerging economies and contribute about 50 percent of employment around the world. In the Philippines, according to the Department of Trade and Industry’s 2021 statistics, …
Ever since the pandemic hit, economic development around the world has slowed down. In the Philippines, issues on budget deficits, increasing debt, and rising inflation have been staples in the news. But are these issues really as bad as we make it out to be? Though it may sound surprising, the Philippines is actually doing …
In my previous article, I discussed the concept of pre-populated tax return and how it can make paying taxes as easy as 1-2-3 using behavioral science. To recall, a pre-populated tax return is a tax return that the government fills in on behalf of the taxpayer and the taxpayer’s only role is to pay the …
Adopting pre-populated tax returns in the Philippines Read More »
Aside from automating tax registration and compliance, digital transformation of the tax administration must narrow the gap between those who register, declare or file their taxes correctly and on time, and those who simply don’t do anything at all. Under the voluntary tax system, the Bureau of Internal Revenue (BIR) relies on what taxpayers declare, …
The fashion industry is notorious for its adverse impact not only on the environment, but also on human rights and animal welfare. Studies show that the fashion industry contributed at least 4% of global greenhouse gas emissions, while others peg the figures as high as 10%. On human rights, studies also note that the fashion industry …
Tax incentives for sustainable and ethical fashion Read More »
The Philippines is perceived to be one of the most corrupt countries in the world. Of 180 countries, the Philippines ranked 116 in terms of being least corrupt. This means that the country is almost on the top one-third of the most corrupt countries, based on the Corruption Perceptions Index (CPI) published by Transparency International. …
A Look at How Corruption Works in the Philippines Read More »
The digitalization of the economy has resulted in significant innovations, especially in terms of convenience for the general population. Now, you can buy your groceries, your clothes, and your food digitally and have those same orders brought to you within the same day or, at most, a week. However, digitalization comes with a dark side …
The adverse effects of corruption have long been recognized in the international community. In 2003, the United Nations Convention Against Corruption (UNCAC) was entered into by several member-states. As of 2021, the number of states that agreed to the treaty had reached 189. Corruption, of course, is not a single act. There are a variety …
