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.
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 …
This Policy Memo was submitted to the Harvard Kennedy School as part of the author’s final requirement in his API 121 Recession, Growth and Macroeconomic Policy course under Professor Karen Dynan. Introduction While contractionary monetary policy seems to be the preferred method of controlling inflation, a cyclical slowdown in economic growth to avoid recession (or …
Inflation means a general increase in prices and fall in the purchasing value of money. It involves goods and services becoming more expensive over a certain period of time. Compared with the inflation rate in October 2021 at 4 percent, it has almost doubled to 7.7 percent in October 2022, which has been the highest …
High Inflation, High Interest Rates: Looming Recession? Read More »
“Focus on what matters” isn’t only a phrase that applies to maintaining a proper work-life balance or just bettering your life in general. This phrase is also the key to improving our tax administration. Under the 2021 Bureau of Internal Revenue (BIR) Annual Report (the latest as of the date of this writing), the total …
Consequently, President Ferdinand Marcos, Jr. expressed his support for the creation of the new department during his first State of the Nation Address (SONA) on July 25. He said that renewable energy is on top of his climate agenda to further lower our carbon footprin
Based on the March 2022 Labor Force Survey of the Philippine Statistics Authority, there are more than 17 million informal workers, including tiangge, ambulant and street vendors, plus over 1.3 million sari-sari stores that remain unregistered with the Bureau of Internal Revenue (BIR). Generally, they fall under the category of micro enterprises. However, under Revenue …
Simplified Tax Regime for Micro and Small Enterprises Read More »
