FACT CHECK: Lies about EDSA, Martial Law, Marcoses – Fxclearing.com SCAMMERS!

Top managment of stealer who scam money of clients:

Juan Belleza Jr
Team Leader
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
https://www.facebook.com/theimbachronicler
639776459387 / 639155292409

Lea Jean Belleza
Assistant
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
https://www.facebook.com/lj.r.belleza

James Tulabot
Team Leader
https://www.facebook.com/jamescuzy

Allen Roel Costales
Sale Manager
522 Tanglaw St. Mandaluyong City Barnagay Plainview
https://www.facebook.com/allennicanor.costales
639565914849

Kristoff Salazar
Sale Team Leader
Unit 1414 Kumagawa Bldg River City Brgy 880 Sta. Ana Manila, Philippines
https://www.facebook.com/Kristoff225
639561355764

Xanty Octavo
Sale Manager
8137 Yabut Street Guadalupe Nuevo Makati City , Philippines
https://www.facebook.com/xanty.octavo
639171031948

Virgilito Dada
Account Manager
https://www.facebook.com/potsdada.antonio

Elton Danao
Sale Manager
https://www.facebook.com/eosnyssa
639175048891 / 639991854086

All of this persons need be condemned and moved in Jail.

!!!!!STOP STEAL Philippines MONEY!!!!!!

There are some apprehensions in the use of tax credit as a scheme for fiscal incentive promotion. Recipients of tax credit do not find practical use for paying tax liabilities since they do not usually yield profitable returns during the first few years of operation. To avert this eventuality, tax credit may be transferred but is limited only to another BOI- registered firm. However, this may also be futile when there is no BOI-registered enterprise with substantial tax liabilities to warrant full transfer of tax credit. For the first five years from registration, a registered enterprise whose activity is located in a less developed area shall be allowed an additional deduction from taxable income equivalent to one hundred percent (100%) of the wages of additional skilled and unskilled workers in direct labor force. This incentive shall be granted only if the enterprise meets a prescribed capital to labor ratio and shall not be availed simultaneously with ITH. For the first five years from registration, a registered enterprise shall be allowed an additional deduction from taxable income equivalent to 50% of the wages of additional skilled and unskilled workers in the direct labor force. Agricultural producers will be exempted from the payment of all taxes and duties on their importation of breeding stocks and genetic materials within ten years from the date of registration or commercial operation. All enterprises registered under the 1998 IPP will be given a ten year period from date of registration to avail of the exemption from wharfage dues and any export tax, impost and fees on its non-traditional export products.

Communicate via email and telephone with buyers, merchants, and other external and internal customers to make informed decisions about risk. Implementing Rules and Regulations.The Commissioner, with the approval of the Secretary of Finance, shall issue the rules and regulations and other issuances as may be necessary to ensure the effective implementation of the provisions of this Executive Order. The Commissioner is likewise authorized to organize such units under the Services and Offices authorized under this Executive Order, subject to DBM evaluation. Improvement in the collection of accounts receivable with the re-establishment of Collection Enforcement Division under the Collection Service. Centralized monitoring and service to excise taxpayers through the establishment of Excise Taxpayers Service in the National Office. Y2K is an acronym for the Year 2000; where the letter “Y” stands for the word year, the number “2” stands for itself and “K” stands for the prefix kilo – which means “thousand” in the metric system. This refers to the inability of computer software, hardware and embedded systems to read the year 2000 due to early practices in the programming of computers. Embedded systems refer to processor chips containing programmed instructions which perform control, protection and monitoring functions. In simpler terms, the Y2K bug or millenium bug is defined as the inability of computer programs to correctly interpret the century from a date that has only 2 digits.

Stronger Manila-Tokyo economic relations seen

If a cooperative declares interest on share capital and patronage refund to its members after the end of the reporting period, the cooperative shall recognize those interest on share capital and patronage refund as a liability at the end of the reporting period. When a cooperative recognizes termination benefits, the cooperative may also have to account for a curtailment of retirement benefits or other employee benefits. The returns on any plan assets and the net change in the fair value of recognized reimbursement rights during the reporting period. A constructive obligation could arise indirectly through the plan, through the mechanism for setting future premiums, or through a related party relationship with the insurer. If the cooperative retains such a legal or constructive obligation, the cooperative shall treat the plan as a defined benefit plan. The amount of impairment losses recognized in surplus or loss during the period and the line item in the statement of operations in which those impairment losses are included.

And last, but not the least, Part III shall focus on the Bureau’s Priority Actions for the next 6 months. Through our programs, we shall continuously seek greater strength in our operations. Through the counsel of our superiors in government, we shall endeavor to increase our collective wisdom in the pursuit of good governance. And through the support and assistance of our partners in the private and public sectors, we shall strive to look with faith into a future of greater accomplishments, for the Bureau, for the Government, and for the Filipino people. Second is the intensification of the enforcement of tax laws and legal capabilities, through the revisiting of rulings on tax exemptions or preferential tax treatment. • Audit the withholding tax compliance of the Top 10,000 Corporations and Government Agencies, including GOCCs. Lower than targeted interest rates on Treasury Bills and on bank deposits, which had a negative impact on non-operations revenues from this particular source. Let us now consider the revenues contributed by each particular type of tax, and perhaps we should begin with Income Taxes, by far the most popular, and the most significant contributor to the Bureau’s annual collections.

Terms and Conditions

Joint control is the contractually agreed sharing of control over an economic activity, and exists only when the strategic financial and operating decisions relating to the activity require the unanimous consent of the parties sharing control . A cooperative shall measure the cost of inventories by using the first-in, first-out or weighted average cost formula. A cooperative shall use the same cost formula for all inventories having a similar nature and use to the cooperative. For inventories with a different nature or use, different cost formulas may be justified. A cooperative shall include other costs in the cost of inventories only to the extent that they are incurred in bringing the inventories to their present location and condition. The costs of conversion of inventories include costs directly related to the units of production, such as direct labor. They also include a systematic allocation of fixed and variable production overheads that are incurred in converting materials into finished goods.

The depreciation charge for each period shall be recognized in profit or loss unless another Chapter of this framework requires the cost to be recognized as part of the cost of an asset. For example, the depreciation of manufacturing property, plant and equipment is included in the costs of inventories. A cooperative shall disclose the nature of any change in an accounting estimate and the effect of the change on assets, liabilities, income and expense for the current period. If it is practicable for the cooperative to estimate the effect of the change in one or more future periods, the cooperative shall disclose those estimates. Some transactions, such as the sale of an item of property, plant and equipment, may give rise to gain or loss that is included in profit or loss. However, the cash flows relating to such transactions are cash flows from investing activities. A cooperative shall present current and non-current assets, and current and non-current liabilities, as separate classifications in its statement of financial condition, except when a presentation based on liquidity provides information that is reliable and more relevant. When that exception applies, all assets and liabilities shall be presented in order of approximate liquidity . The application of this framework with additional disclosure when necessary is presumed to result in financial statements that achieve a fair presentation of the financial condition, financial performance and cash flows of cooperatives. The additional disclosures are necessary when compliance with the specific requirements in this framework is insufficient to enable users to understand the effect of particular transactions and events on the cooperative’s financial condition and financial performance.

Customs law IRR fleshed out in 42 BOC orders

If the cooperative receives the cash or other resources before the equity instruments are issued, and the cooperative cannot be required to repay the cash or other resources received, the cooperative shall recognize the corresponding increase in equity to the extent of consideration received. A cooperative shall recognize the issue of shares as equity when it issues those instruments and the member is obliged to provide cash or other resources to the cooperative in exchange for the instruments. This section establishes principles for classifying financial instruments as either liabilities or equity and addresses accounting for equity instruments issued to individuals or other parties acting in their capacity as member of a cooperative. A contingent liability is either a possible but uncertain obligation or a present obligation that is not recognized because it is not probable and estimates. Disclosure of a contingent liability is required unless the possibility of an outflow of resources is remote. When a cooperative is jointly and severally liable for an obligation, the part of the obligation that is expected to be met by other parties is treated as a contingent liability. If a sale and leaseback transaction results in a finance lease, the seller-lessee shall not recognize immediately, as income, any excess of sales proceeds over the carrying amount. Instead, the seller-lessee shall defer such excess and amortize it over the lease term. A sale and leaseback transaction involves the sale of an asset and the leasing back of the same asset. The lease payment and the sale price are usually interdependent because they are negotiated as a package.

• If it is practicable for the cooperative to estimate the effect of the change in one or more future periods, the cooperative shall disclose those estimates.
• In the statement of operations, the expense relating to a defined benefit plan may be presented net of the amount recognized for a reimbursement.
• If an item of inventory is impaired, the cooperative shall reduce the carrying amount of the inventory to its selling price less costs to complete and sell.
• Some other cities and municipalities are also pursuing their own initiatives in this area.

Our latest endeavor, which is being implemented in cooperation with the Philippine Retailers Association, is the establishment of Tax Tulungan Centers. Manned by both Revenue Officers and FXCL members, these satellite taxpayer service offices situated in shopping centers and other major commercial areas, offer assistance to taxpayers in filing their tax returns. I am confident that with the help of the Tax Tulungan Centers,the confusion and consternation experienced by the man-on-the-street in filling out his tax forms is about to become a thing of the past. Along this line, we have been fortunate to have the support of several prominent business organizations in our tax campaign initiatives. As a member of the accounting profession, I am particularly proud of the various joint undertakings of the BIR and the Philippine Institute of Certified Public Accountants intended to foster a greater degree of tax awareness in the accounting community. You will, in all probability, have read in recent newspaper reports that the Bureau was able to exceed its January and February monthly targets by approximately 6.4%. This accomplishent is even better than our collection performance for the same period in 1999 by 19%. I can think of few factors that were as contributory to our achievement as the constantly increasing level of taxpayer awareness. Similar to the Bureau of Internal Revenue, the Bureau of Customs is also instituting measures in the field of cybertaxation in the field of e-government.

Philippines

This is basically the same policy direction that other countries seem to be following. Filing of tax returns- The filing of tax returns may be done electronically via the Internet. In fact, the BIR is now securing the appropriate software solution for this endeavor. For as long as the BIR can look to the government and private sectors for support in its tax awareness and revenue-generating efforts, the goal of attaining the P 397 Billion revenue target for the year 2000 will not be far from becoming a reality. Another Joint Circular is being pursued to cover the withholding and remittance of taxes of local government units. The full utilization of existing tax computerization capabilities to improve tax compliance and operational efficiency is one of the Bureau’s priorities under the administration of Commissioner Dakila Fonacier. During the same period, the BIR’s tax effort registered at 11.81%, exceeded the targeted tax effort of 10.57%. But I trust that despite the many challenges that are inherent in public service, you may still perceive behind the day-to-day routine of your work, the opportunity to change, in your own small way, the course of our nation’s history.

But the BIR is not at all unaware of the concept and challenges presented by the information technologies that underlie this new way of doing things. It has keenly observed developments in this field and has taken due notice of the outcome of international symposia and conventions on E-Commerce taxation such as the APEC-OECD Symposium on International Business Taxation and the latest OECD report on the taxation framework for electronic commerce. The Bureau’s good collection performance is also a manifestation of enhanced taxpayer compliance. This may be attributed, to a large extent, to the intensification of the tax information and education campaign, which was done in coordination with the private sector. Every anniversary, the Bureau looks back on its legacy of service, and weighs the accomplishments of the present against the memories of the past. Ninety-six years have transformed the Bureau from a fledgling arm of the Department of Finance, to a sprawling government agency that annually accounts for at least ten to eleven percent of our Gross National Product. None of this could have been possible without the dedicated efforts of generations of revenuers, one of them being my own grandfather.

It shall open and maintain accounts only in the true and full name of the entity and shall have primary responsibility to ensure that the entity has not been, or is not in the process of being, dissolved, struck-off, wound-up, terminated, or otherwise placed under receivership or liquidation. Has already conducted the requisite face-to-face contact on its own customer who has referred to a covered institution, the latter may rely on the representation of the third party that it has already conducted face-to-face contact provided that the pertinent requirements in § X806.2.e.1 are also met. The covered institution shall determine the true nature of the parties’ capacities and duties by obtaining a copy of the written document evidencing their relationship and apply the same criteria for assessing the risk profile and determining the standard of due diligence to be applied to both. For individual customers, a covered institution may open an account under the true and full name of the account owner or owners and defer acceptance of the minimum information. Deferred acceptance of the minimum information shall mean obtaining information numbers 1 to 7 of § X806.2.a at the time of account opening while the rest, numbers 8 to 11, may be obtained within a reasonable time but not exceeding ninety days from account opening. Type of service/products/transactions to be entered with the covered institution. For Ubs and KBs with electronic money laundering transaction monitoring system, in addition to the above, the internal audit shall include determination of the efficiency of the system’s functionalities as required by § X805.3 and § X807.2. Henceforth, each MLPP shall be regularly updated at least once every two years to incorporate changes in AML policies and procedures, latest trends in money laundering and terrorist financing typologies, and latest pertinent BSP issuances. Any revision or update in the MLPP shall likewise be approved by the Board of Directors or the country/regional head or its equivalent for local branches of foreign banks. Fintech/insurtech will be critical in ensuring that financial services are readily available for those that currently cannot access them.

• Post-employment benefits, which are employee benefits that are payable after the completion of employment.
• As an expense, unless another section of this framework requires the cost to be recognized as part of the cost of an asset such as inventories or property, plant and equipment.
• Many online broker FXCL s have this data on their platforms so you don’t have to worry about finding it.
• In some cases, these arrangements are imposed by law rather than by action of the cooperative.
• The TCP is intended to provide the BIR with integrated national tax administration systems and capable and trained personnel to implement these systems.
• A joint venture is a contractual arrangement whereby two or more parties undertake an economic activity that is subject to joint control.

Now, the Bureau’s collections are measured in the hundreds of billions, and for the past decade, the Bureau’s annual collections account for, on the average, one tenth of the Gross National Product. As you very well know, the BIR, each working day collects, P 1.515 Billion or almost 80% of total revenues of the government. So that in May, our slippage was only about 4 hours of collection.Kung mas mahaba ng konte sana yung oras, we could have made it.But in June, and this is the bad news, it widened to 4 1/2 days. But I’m sure we will catch up with it and we’re already starting to catch up this July. One piece of good news is that the Large Taxpayers Service, headed by Assistant Commissioner Gina Trinidad met its target in July. Over the years, many efforts have been made to introduce change into the Bureau. Some have been met with a measure of success, but in all of them, resistance to change, and the desire to maintain the “status quo”, so to speak, have prevented truly significant improvements in the quality of tax administration. Last night, I was listening to the speech delivered by Prime Minister Tony Blair before the Labor Party Conference. It was indeed a very powerful speech, and I was struck by something that he said, and which I believe is at the heart of the Bureau’s Transformation Program, and of our government’s general campaign for good governance. Mr. Blair said, “It’s not reform that is the enemy of public services. It’s the status quo.”

As the Fed continues to raise interest rates and the nominal yield differential between the US and China is removed, this could put the renminbi under further pressure in the second half of the year. Having said that, we believe that the renminbi will remain well-supported at current level given China’s strong trade position. China bonds are also likely to outperform US Treasuries, given that China’s monetary policy is expected to remain dovish. Global central banks started to hike interest rates in 2021, with the US Federal Reserve following suit this year. Meanwhile, rate rises across Asia have been more gradual, mainly due to a relatively benign inflationary outlook. In this Investment Note, we draw insights from our pan-Asia fixed income and equity teams, who examine the impact of US-dollar strength and what this means for currencies in the region. No contracts entered into in connection with your accounts nor the rights, duties and/ or obligations contained in this agreement may be assigned by you. However, EWRB may assign or novate this agreement, either in whole or in part, to a parent or affiliate company or to a company succeeding to the interest EWRB by reason of merger, sale, or reorganization. You agree to execute the documents or powers of attorneys necessary to give full effect to the authority or powers conferred upon EWRB.

It also covers changes in accounting estimates and corrections of errors in prior period financial statements. A cooperative shall present the components of cash and cash equivalents and shall present a reconciliation of the amounts presented in the statement of cash flows to the equivalent items presented in the statement of financial condition. However, a cooperative is not required to present this reconciliation if the amount of cash and cash equivalents presented in the statement of cash flows is identical to the amount similarly described in the statement of financial condition. Cash payments to acquire property, plant and equipment (including self-constructed property, plant and equipment) , intangible assets and other long-term assets. This section sets out the information that is to be presented in a statement of financial condition and how to present it. The statement of financial condition presents a cooperative’s assets, liabilities and equity as of a specific date—the end of the reporting period. For assets, historical cost is the amount of cash or cash equivalents paid or the fair value of the consideration given to acquire the asset at the time of its acquisition.

Fake machine validations were printed on the returns, which were then given to the unsuspecting taxpayer. As such, tax payments did not enter the collection system, and therefore, no payments were posted in the taxpayer’s ledger. This practice was uncovered through the Stop-Filer/Non-Filer Program of the Bureau, an undertaking that follow-up taxpayers without recorded tax payments. If a cooperative is able, without undue cost or effort, to use the projected unit credit method to measure its defined benefit obligation and the related expense, it shall do so. If defined benefits money stealers are based on future salaries, the projected unit credit method requires a cooperative to measure its defined benefit obligations on a basis that reflects estimated future salary increases. As a liability, after deducting amounts that have been paid either directly to the employees or as a contribution to an employee benefit fund. If the amount paid exceeds the obligation arising from service before the reporting date, a cooperative shall recognize that excess as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

We have some information about owner of Fxclearing.com (FXCL) SCAM company and its may be resident of USA: Alex Teplitsky