The Asian Consulting Group, in partnership with the Department of Trade and Industry, launched on Thursday, March 23 the Investment and Tax Briefing in Sydney, Australia. The webinar featured ACG Founding Chairman and Chief Tax Advisor Mon Abrea, H.E. Ma. Hellen de la Vega (Philippine Ambassador to Australia), Atty. Dennis Quintero (Chairman, Philippine Australia Business Council), and Mr. Rafael Toda (President, Australia-Philippines Business Council).
The goal of the Investment and Tax Briefing webinar was to encourage overseas Filipinos and foreigners to start their own businesses and/or invest in the Philippines. Toward this end, the Philippine Tax Whiz Mon Abrea gave an overview on the Philippine economy, as well as addressing economic issues, such as the high inflation rate.
Moreover, Abrea also discussed the different investment options that aspiring entrepreneurs and investors can avail. He explained investment options such as REITs, stocks, bonds, PAG-IBIG MP2 Savings, or the Personal Equity and Retirement Account (PERA). He warned potential investors, however, of investment scams that people should be wary of.
Finally, he discussed the changes under the Comprehensive Tax Reform Program (CTRP). These changes are especially relevant for aspiring business owners, and may determine whether they open up sole proprietorships, one person corporations, or regular corporations. Each type of business has a different tax liability that one should keep in mind.
Becoming an investor or starting a business can be a scary step forward, but being forewarned is being forearmed. Knowing what options are on the table, as well as what pitfalls to avoid, can allow investors and entrepreneurs to succeed in their ventures. If you have more questions and are interested in partnering with us, you may email consult@acg.ph.
