Treat yourself, your colleagues, your employees or your loved ones to our useful learning sessions this Christmas season! Avail of the following seminars (see details below) and get a 50% discount on our regular rates.

Download Promo Copy Here

A. Promo Set 1

1. 50% discount on the following seminars:

Seminar	Date	Promo Rate (50% off)	Regular Rate
Accounting for Non-Accountants	Dec. 8-9, 2011	3,999.50	7,999.00



2. Requirement
1. Participant/s must register and pay the full seminar fee on or before Nov. 30, 2011 5:00pm.
3. See other terms and conditions**

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B. Promo Set 2

1. 50% discount on the following seminars:

Seminar	Date	Promo Rate (50% off)	Regular Rate
Compensation and Benefits	Jan. 16, 2012	3,749.50	7,499.00
Effective Payroll Management	Jan. 18, 2012	3,599.50	7,199.00
Financial Analysis Tools and Techniques	Jan. 25, 2012	3,599.50	7,199.00
Costing and Pricing	Jan. 30-31, 2012	3,999.50	7,999.00
Comprehensive Tax	Feb. 13, 2012	2,999.50	5,999.00
Tax Preparers Program Workshop	Feb. 14-15, 2012	3,999.50	7,999.00
Accounting for Non-Accountants	Feb. 16-17, 2012	3,999.50	7,999.00
Cash Flow Management	Feb. 20, 2012	3,599.50	7,199.00



2. Requirement
1. Participant/s must register and pay the full seminar fee on or before Dec. 31, 2011 5:00pm.
3. See other terms and conditions**

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C. 4 + 1 Promo

1. For every 4 participants who can bring another 1(making them a total of 5), the 5th participant is free.
2. Requirements
1. 4 + 1 Promo is only applicable in one seminar for every group of 5.
2. This promo is only applicable on the seminars that are scheduled starting from December 2011 onwards.
3. See other terms and conditions**

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D. Bookkeeping Course Promo

1. 10% discount to those Bookkeeping students who will be enrolling in Batch 13 scheduled to open on Jan. 21, 2012.
2. Requirements
1. Full tuition fee payment has to be paid on or before Dec. 31, 2011.
2. Non-refundability. Only for the Php 2,500.00 course registration/slot reservation.

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Other terms and conditions**

1. Non-refundability. All payments made for seminars under this promo are non-refundable.
2. One promo at a time.
3. Seminar schedules are subject to change. If the seminar you registered with has been re-scheduled, we will contact you immediately. In case of such incidents, you are entitled to attend the same seminar within one (1) year upon payment for no extra charge provided the necessary documents for the said incident.
4. Non-appearance of participant on the training or seminar date will be considered consumed. If you wish to send a substitute to attend, kindly call us and e-mail us a notification indicating the name and contact number of the substitute.
5. Other promos such as Packaged Programs and Early Bird Discount cannot be availed of together with this promo.
6. Participants who availed our Package Program. Those who have previously availed of and paid for any Packaged Program prior to the promo and have yet
7. Promo runs from October 2011 - December 2011 only.

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INQUIRE NOW

(632) 310.3857 | 576.4423 | 215.4824

0918.990.7278 | 0917.854.1357

info@eaa.edu.ph

Market swings may continue this week

THE LOCAL market may see more volatility this week amid some technical rallies as European debt worries may continue to dampen investor sentiment.

The Philippine Stock Exchange index (PSEi) rose by 2.93% or 113.69 points to 3,999.65 last Friday versus 3,885.96 the week before, when it first slipped below the 4,000 psychological barrier -- from which it has not recovered since.

The broader all-share index, on the other hand, rose by 2.76% or 76.93 points to 2,859.23 from 2,782.30.

“External events caused massive swings and higher volatility in the PSEi and foreign markets the whole [of last] week. Finding no lasting solution yet to the debt woes in Europe, major markets reeled and alternated between gains and losses,” said analyst Maria Arlysa E. Narciso of brokerage firm AB Capital Securities, Inc. in a market report last Friday.

The same might be the case for this week.

“I think the market will consolidate this week given problems abroad,” said analyst Elizabeth S. Abadillo of brokerage firm Angping & Associates Securities, Inc. in a text message yesterday.

Abroad, auditors from the European Union (EU) and the International Monetary Fund (IMF) visited debt-laden Greece last week to discuss its finances after noting it had slipped against its commitments. The Greek government, meanwhile, was expected to initiate fresh spending cuts and tax hikes in order to secure the latest bailout installment from the so-called “troika” of the EU, IMF and European Central Bank (ECB).

Despite the worst third quarter closes for Wall Street since the 2008 global financial crisis, blue-chip Dow Jones industrial average rose by 1.57% or 168.90 points to 10,913.38 from 10,744.48 a week ago.

The broader Standard & Poor’s 500 index, however, fell by 0.44% or 5.01 points to 1,131.42 from 1,136.43, while tech-heavy Nasdaq composite index dropped by 2.73% or 67.83 points to 2,415.40 week on week.

Describing trading at the PSE last Friday, Bonner C. Dytoc of brokerage firm Angping Associates & Securities, Inc. in a market report yesterday said: “The last trading day was a welcome relief to a suffering market as it was able to rise by 122 points to return to just under the 4,000 level. But at this point, any rally that the market makes is a cue for those who still have winning positions to take their profits while they still can.”

The safest tack for investors this week will be to be on the liquid side and sell or invest in defensive issues or high dividend-yielding stocks such as Philippine Long Distance Telephone Co. and Aboitiz Power Corp., Ms. Narciso said.

Concrete and positive news after the troika’s assessment of Greece may yield better direction for the market this week, she added.

“For now, volatility is still high. The PSEi would likely swing erratically between gains and losses until it finds a solid ground where it can consolidate,” Ms. Narciso added.

This, as the local bourse extends stock trading to 1 p.m. beginning today in order to boost trading volume in preparation for the link-up with regional bourses next year.

The hour-long extension will give investors more room to adjust to foreign developments and capture other markets, benefitting them in the long run, said analyst Astro C. del Castillo, managing director of brokerage firm First Grade Holdings, Inc., in a telephone interview yesterday.

Initial support and resistance levels for the week are pegged at 3,820 and 4,120, respectively, Ms. Abadillo said.

 

 

Posted by: Entrepreneurs Accounting Academy (EAA)

 

 

Article of: Franz Jonathan G. de la Fuente

Disclaimer: EAA respects the intellectual property of others. Articles from other sources were linked to the original article to give full credit to the writer and publisher. In the event that there is a problem or error with copyrighted material, the break of the copyright is unintentional and noncommercial and the material will be removed immediately upon proof. If you are the owner of material that appears on this site please send proof to us and the material will be removed promptly. However, if you are the owner and would rather credit be given for the material, instead of removal, we will gratefully give the appropriate credit desired.

PERA tax rules ready

TAX RULES needed to implement the much-awaited Personal Equity and Retirement Account (PERA) scheme have been submitted to the Finance department and are pending approval.

The proposed revenue regulations, among others, set stringent guidelines for tax credit certificates (TCCs) that will be granted to overseas Filipino workers (OFWs) to ensure that these are not used fraudulently.

"We submitted the PERA Revenue Regulations [last week] to the DoF (Department of Finance," Bureau of Internal Revenue Commissioner Kim S. Jacinto-Henares said on Friday.

Finance officials were not immediately available for comment as to when, or if, the BIR’s tax rules would be issued.

The PERA Act or Republic Act 9505 was signed into law in 2008 and its implementing rules were issued the following year by the Securities and Exchange Commission and the Bangko Sentral ng Pilipinas.

The law, however, has not been implemented up to now given the absence of BIR tax rules.

A stumbling block was the issuance of tax credits to OFWs that could be difficult to monitor for the bureau, Ms. Henares explained.

"We were focused on making safeguards regarding the use of TCCs," she said.

One of these is the printing of the tax credits on a special security paper so that the documents cannot be copied and counterfeited, Ms. Henares said.

Migrant Filipinos will also have to apply for a tax debit memo when they use their TCCs, stating how much of the tax credits will be claimed and for what tax obligation.

The BIR will also establish internal records of TCC recipients, Ms. Henares said.

"This will ensure that only those who are qualified for the TCCs will get to enjoy it," she noted.

This was also suggested by Tammy H. Lipana, chairperson of the Philippine Chamber of Commerce and Industry’s tax committee.

"There should be a registry of the TCCs issued, whether directly to OFWs or coursed through the embassies to OFWs," Ms. Lipana said in a telephone interview on Friday.

"The tax debit memos also ensure that the BIR still gets to approve how the TCCs can be used," she added.

 

 

INVESTMENT ALTERNATIVE

The PERA Act provides Filipinos with an alternative means of planning their retirement, allowing the establishment of accounts where they can contribute a maximum of P100,000 per year. Those working abroad have been provided a higher annual cap of P200,000. Five PERAs can be maintained at any one time but the annual contributions must not exceed the set limits.

PERA investment and reinvestment income will be exempted from a slew of taxes such as the 20% final withholding tax on bank deposits, 10% tax on cash or property dividends and the stock transaction tax on shares traded through the stock exchange.

A tax credit equivalent to 5% of all PERA contributions will also be granted to account holders. OFWs will receive TCCs which they can use to pay their internal revenue taxes. Resident Filipinos, meanwhile, will just get a BIR certification that will be used by employers to adjust taxes on their income.

The PERA Act is expected to attract an estimated eight million Filipinos, especially OFWs and self-employed individuals who are not required to contribute to the Social Security System and the Government Service Insurance System.

"The implementation of the PERA act is very much anticipated. Right now, when you save up for your retirement, there are no tax benefits with it," Ms. Lipana said.

A possible sticking point, though, is that OFWs may not have any use for their TCCs since they are exempted from income taxes under the law, she pointed out.

The BIR’s Ms. Henares, however, said OFWs could have other tax liabilities.

"If they have real estate [assets and they sell this], that is subject to capital gains tax. If they have sidelines and other businesses here in the Philippines, that is subject to income tax," she responded.

"Also, if the OFWs return to the Philippines to work here, they will have to pay income tax already. They will be able to use their TCCs then," Ms. Henares added.

 

 

Posted by: Entrepreneurs Accounting Academy (EAA)
Article of: Diane Claire J. Jiao (Business World)

 

 

Disclaimer: EAA respects the intellectual property of others. Articles from other sources were linked to the original article to give full credit to the writer and publisher. In the event that there is a problem or error with copyrighted material, the break of the copyright is unintentional and noncommercial and the material will be removed immediately upon proof. If you are the owner of material that appears on this site please send proof to us and the material will be removed promptly. However, if you are the owner and would rather credit be given for the material, instead of removal, we will gratefully give the appropriate credit desired.