BL COMP 6103 LEC 1933T Current Trends AND Issues Christian Felix version 2 _It detects motion – 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!!!!!!

Countries adopting the self-assessment system have the tendency to focus on developing and improving their audit programs. Indonesia adopted a more exhaustive auditing system through periodic visits to taxpayers. In Korea, the field audit was extensively used to detect possible leakages in the tax system. With increasingly complex and diversified business activities, particularly those that have expanded internationally, sophisticated techniques in tax audit have been put in place. Taxpayer profits, income matching and industry standard ratios are made and applied more easily through the use of computers. For some developing countries like the Philippines, however, the extensive use of electronic data processing systems for detecting non-compliance is still wanting. The Philippines, and other countries such as Italy, the Philippines, and Thailand, by provision of their internal revenue laws, subjects certain income payments – such as interests on bank deposits and royalties – to final taxes. The withholding of this tax is referred to as “withholding of final tax at source”.

Avoiding Passwords and PIN combinations that may be easily determined by others such as sequential numbers, repetitive numbers, your name, birthday, phone number, address, SSS numbers, etc. The bank may also initiate suspension of your access to the Komo Mobile app for security and/or fraud prevention purposes should the bank detect any suspicious activity. Upon your completion of the onboarding process and once we approve your application, you will be given a Komo Savings Account and you will be able to fully use all the features and services of the Komo Mobile App. All Komo Savings Accounts are opened only for the sole use of the individuals who had completed and passed the onboarding process. No account will be opened for those who have not completed and passed the onboarding process nor for the benefit of another person. For those who do not pass the onboarding process, we may or may not tell you the reason for the disapproval. If after opening an account, you become a US Person, you must notify us of the change within thirty days by providing us your US Tax Identification Number. You must declare that all personal information and documents you have submitted or will submit to us are accurate, truthful, and up-to-date. Your ID will be deemed valid only if it is submitted at a time when that specific type of ID is listed as acceptable on our website.

Risk & Compliance Associate (KYC) | Flexible Work Arrangement (EL

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To be relevant, financial information must be able to influence the economic decisions of users. If there is undue delay in the reporting of information it may lose its relevance. Management may need to balance the relative merits of timely reporting and the provision of reliable information. In achieving a balance between relevance and reliability, the overriding consideration is how best to satisfy the needs of users in making economic decisions. Information is reliable when it is free from material error and bias and represents faithfully that which it either purports to represent or could reasonably be expected to represent.

How banking is getting personal

In such cases, a cooperative need not disclose the information, but shall disclose the general nature of the dispute, together with the fact that, and reason why, the information has not been disclosed. The word ‘provision’ is sometimes used in the context of such items as depreciation, impairment of assets, and uncollectible receivables. Those are adjustments of the carrying amounts of assets, rather than recognition of liabilities, and therefore are not covered by this section. If it is clear from other features that the lease does not transfer substantially all risks and rewards incidental to ownership, the lease is classified as an operating lease.

Accordingly, the self-assessment approach was adopted as a means of meeting the administrative requirements of an increasing taxpayer population, as well as to place additional responsibility on taxpayers to comply with tax laws. While the volume of E-Commerce of Internet transactions in the Philippines is still miniscule compared with other countries, the risks posed by the Internet to the tax system are real. The government must focus on how to address these risks in a spirit of collective co-operation rather that in an atmosphere of competition. Governments and businesses must undertake an integrated review on the impact of the Internet on tax systems, on legislation and administrative regulations, on implementation and audit practices and on international taxation arrangements. One aspect that taxpayers can look forward to is the electronic filing of tax returns. Through this electronic filing, taxpayers would have the option of filing their tax returns through their computers that will transmit or file the returns electronically to the BIR. With this in place, perhaps the long lines during the tax filing deadlines in April will be avoided. At the same time, taxpayers will be able to save on time and money with electronic filing compared to the process of going to and physically lining up in the BIR collecting offices to file tax returns and pay the taxes. In the case of the United States, in 1999, there were 29.3 million individual taxpayers which filed their income tax returns electronically. Section 27 of the Act directs all government offices to recognize electronic transactions and to transact government business and/or perform governmental functions using electronic data messages or electronic documents.

FACT CHECK: Lies about EDSA, Martial Law, Marcoses

Second-endorsed Checks – A covered institution shall enforce stricter guidelines in the acceptance of second-endorsed checks including the application of enhanced due diligence to ensure that they are not being used as instruments for money laundering or other illegal activities. In no case shall reduced due diligence be applied to the applicant and, where circumstances warrant, enhanced due diligence should be applied. A covered institution shall require their customers or authorized signatory to submit a clear copy of one valid ID on a one-time basis only at the commencement of business relationship. They shall require their clients to submit an updated photo and other relevant information on the basis of risk and materiality. If the counter party is an entity other than a covered institution as herein defined, covered institutions shall ensure that the employees or representatives of the counter-party conducting the face-to-face contact undergo equivalent training program as that of its front-liners undertaking a similar activity. Covered institutions shall likewise monitor and review annually the performance of the counter-party to assist it in determining whether or not to continue with the arrangement. Enhanced due diligence shall be applied to customers that are assessed by the covered institution or by these Rules as high risk for money laundering and terrorist financing. The training program shall also include refresher trainings to remind these individuals of their obligations and responsibilities as well as update them of any changes in AML laws, rules and internal policies and procedures. For instance, recent BSP regulations require remittance, money changing, and/or foreign exchange dealing entities to register or reregister with the BSP, the SEC, and the Anti-Money Laundering Council Secretariat. Moreover, remittance platform providers must now conduct business in the Philippines through a locally incorporated subsidiary.

• The impact of further policy divergence between China and the US will most likely be felt in the foreign exchange rather than rates markets.
• Our acceptance of payment for any deposit or bills or any part thereof after any due date shall not be considered as extending the time for such payments or as a modification of the conditions thereof.
• Lastly, we are also keeping a close eye on foreign investor activity in the bond market to detect signs of selling induced by a weak ringgit.
• In recent years, the launching of the BIR’s annual tax information campaign has gained increasing prominence in media and business circles.
• Domestic Transfer – any wire transfer where the originating and beneficiary institutions are located in the same country.

Among others, aside from the good housekeeping seal of approval of the IMF, it will trigger off inflows of funds. I understand from Undersecretary Bañares, this is $325 Million and a couple of other inflows from the World Bank, ADB, the JBIC, and not to mention, in the words of Congressman Angpin, the confidence of the international financial community, inspite of the BIR not meeting its revenue targets. But if it is any consolation to everyone, in May our slippage was only 4 hours worth of collection. Not very many people know that, but I would like to take this opportunity to thank everyone in the revenue service for that great effort. Without the revenues provided by taxes, there is not one single program of government that can hope to progress from being mere plans on paper to becoming an endeavor that shall truly serve the public. Without the funds generated through taxes, the basic services that are so desperately needed by our people will be no more than items on a thick, heavy volume known as the General Appropriations Bill, words that are no more important than the paper on which they are printed. Our mission is to raise revenues for the government through effective and efficient collection of taxes, quality service to taxpayers, and impartial and uniform enforcement of tax laws.
Philippine Financial Reporting Framework for Cooperatives

It usually takes about a month to obtain a financial service license from the BSP. With respect to insurtech, the Insurance Commission has not yet issued regulations specifically on insurtech activities. Unfortunately, the programmers did not foresee the innovation’s effect at the turn of the millenium, when the year 2000 would be recorded “00”. There had been studies that if Y2K bug is not fixed, it will cause damage through the generation of erroneous data which may lead to system failures. Furthermore, experts say that the Y2K bug can create problems for those who heavily depend on accurate dates and information records and this includes the Bureau of Internal Revenue. Due to the possibility of miscalculations, there is a risk that critical information would be lost or corrupted and that communication systems or electronic devices equipped with “embedded” microprocessors with data processing in their codes, may fail to operate reliably or even fail to operate entirely. The Philippines has come a long way from where we were less than a decade ago when we were referred to as the “sick man of Asia”. The country generated total investments of P503.9 Billion in 1997 or 366% increase in investments over the same period of previous year based on the Report of Total Project Cost of BOI approved projects. Although it is generally recognized that tax incentives play an important role in encouraging investment initiatives for the attainment of development goals, many difficult and delicate administrative problems are connected with its implementation.

The reengineering of the processes and the initiation of programs are major parts of the synergy. On top of it all, however, human resource remains to be the most important factor in the Bureau’s success. Continuous trainings in various disciplines are being held for BIR personnel to improve their skills and competence. Employee health and wellness are given as much importance as knowledge and efficiency, while organizational and management development programs continue to improve. The upgrading of office facilities and the accessibility of technology also contribute to a highly motivated BIR employees. A major effort in the Bureau’s proactive campaign to combat tax evasion was system automation. The CAATTS automated and simplified the audit process and increased audit efficiency.

Bloomberg launches electronic repo trading platform in the Philippines

The same provision likewise instructs all government agencies to adopt regulations to carry out this purpose within two years from the effectivity of the E-Commerce Law. During a presentation held yesterday at the House of Representatives for the Committee on Appropriations, I had the opportunity to share with the committee members a five-point strategic plan to improve our collection performance for the second semester. This include innovations such as an electronic on-line metering machine system to improve our monitoring of DST collections; and a MOA with the LGUs for the collection of withholding tax at the local government level. A similar MOA, with the NGAs, signed with the DBM last March, is already bearing fruit and we are now hitting the rate of P 1.4 Billion a month towards our target of about P 18 to P 20 Billion a year. And of course, the improvement of existing operational programs, such as our audit and investigation activities. By the way, we are going full blast on these, and I have been authorized to make public that there will be no tax amnesty, at least for this year.

Viewed against our cumulative goal of P 300.8 Billion from January to June 2006, the Bureau was able to achieve 99.15% of our First Semester revenue target. However, if we factor out collections from T-bills and T-bonds, the disposition of which does not fall under the jurisdiction of the BIR, it is clear that the Bureau exceeded its target by P 1.2 Billion, thereby registering an increase of 0.4%. Nonetheless, I am proud to say that we have hurdled the challenges that were thrown before us. It is my great pleasure to report that the Bureau met its cumulative collection target for the 1st semester of 2006, and attained a tax effort ratio of 9.87% marked improvements over the previous year. The past six months have been a time of considerable challenge for the Bureau, given, among others, the difficulties encountered in the implementation of the R-VAT – the usual birth pains. The campaign against tax evaders will continue to be accorded top priority by the Bureau, as we pursue theprosecution of RATE cases.

PHL business data bank launched

In addition to the requirements of this section, nearly every other section of this framework requires disclosures that are normally presented in the notes. This Chapter sets out the information that is to be presented in a statement of cash flows and how to present it. The statement of cash flows provides information about the changes in cash and cash equivalents of a cooperative for a reporting period, showing separately changes from operating activities, investing activities and financing activities. As a consequence, cooperative external auditors are left with no option but to render, at times, qualified opinion because the cooperatives could not comply with the PFRS. As a matter of fact, other cooperative external auditors express varied opinions on the presentation of the audited financial statements of cooperatives ranging from unmodified, qualified, adverse and disclaimer of opinion on the items presented in the financial statements.

Such arrangements are in substance leases of assets, and they should be accounted for under this section. The community development fund shall be used for projects or activities that will benefit the community where the cooperative operates. Since the reserve fund account is intended, among others, to meet operational losses, all accumulated losses incurred by the cooperatives in their business operations shall therefore be charged against this Fund which shall be decided upon by the Board of Directors. Under Article 61, par , last paragraph of RA 9520, cooperatives can only be granted exemption from payment of taxes if at least twenty-five per centum (25%) of their net income is returned to the members in the form of interest and/or patronage refunds. For intangible assets acquired by way of donations and grants and initially recognized at fair value . This Chapter applies to accounting for all intangible assets and intangible assets held by a Cooperative for sale in the ordinary course of business. A cooperative shall determine the gain or loss arising from the derecognition of an item of property, plant and equipment as the difference between the net disposal proceeds, if any, and the carrying amount of the item.

A cooperative shall include comparative information for narrative and descriptive information when it is relevant to an understanding of the current period’s financial statements. The second criterion for the recognition of an item is that it possesses a cost or value that can be measured with reliability. The use of reasonable estimates is forex scam an essential part of the preparation of financial statements and does not undermine their reliability. When a reasonable estimate cannot be made, the item is not recognized in the financial statements. It is classified in the statement of financial condition as Members’ Equity, Statutory Funds, Donations and Grants, and Revaluation Surplus.

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