Press Releases

“Proposed climate-related taxes should not burden taxpayers,” says tax expert

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The need to create a climate-resilient Philippines is bound to open new opportunities for businesses. Mon Abrea, Co-Chair of the Paying Taxes – EODB Task Force, notes that there is a laundry list of proposed taxes related to climate change. Among these are carbon tax, congestion tax, energy tax, air pollution tax, and more. Climate …

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Tax expert proposes changes to tax laws, teaches CEOs how to adapt to present tax administration.

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“Congress must revisit its definition of what constitutes marginal businesses as the present threshold is still too low,” urges Asian Consulting Group’s Founding Chairman and Chief Tax Advisor Mon Abrea. In an article published with the Inquirer, the tax expert noted that the present threshold for marginal businesses includes only those with annual gross sales of …

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What Should CEOs learn from the BIR-Megaworld fiasco?

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The country’s biggest tax-collection agency issues revenue special orders invoking Section 5 of the Tax Code, which empowers the BIR chief to conduct audits. This was the same legal basis which regional director Eduardo Pagulayan Jr. of the BIR’s revenue region 8B covering south National Capital Region (NCR) cited for his investigation on Megaworld. (Inquirer)  …

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For Almost A Quarter of A Century, P23 Billion Tax Due Remains Unpaid

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In less than a week, the Annual Income Tax for individuals and corporations should be filed or else, you will be slapped with hefty penalties: 25% surcharge and 12% interest based on the unpaid tax due, and up to P50,000 compromise penalty. However, this is in contrast with the latest intrigue being faced by a …

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Asian Consulting Group appointed new board members

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Mr. Jose Magsaysay, Jr., the co-founder and Chairman Emeritus of Potato Corner is the newly  appointed Chairman of Asian Consulting Group in the recently held Annual Shareholders and Board of Directors Meeting last March 23, 2022. While Mon Abrea stepped down as the Chairman, he remains as the CEO and Senior Tax Advisor of the …

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Criminal Violations of the Tax Code

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“Always file and pay the correct taxes and ensure all reported information is accurate” is wisdom that bears repeating because non-compliance may have dire consequences. While some tax violations may be settled with a fine, serious ones may be considered criminal offenses which could lead to imprisonment. The latest article of our Chairman and CEO …

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Tax Whiz urges overseas Filipinos to invest in the Philippines

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QUEZON CITY, PHILIPPINES – The “Philippine Tax Whiz” and Asian Consulting Group (ACG) Chairman and CEO Mon Abrea opened the year with the Investment & Tax Briefing, a series of seminars for overseas Filipinos held from January 3 to February 8. In this 2022 US Roadshow, Abrea met with kababayans based in Washington, D.C., Los …

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