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SME in Focus
Deploying ICT for greater transparency and efficiency
 Fighting the evils of corruption is a good program that merits the support of the bureaucracy and the citizenry as well to boost e-governance in the country.
The advent of information communications technology (ICT) is a good tool that should be maximized by the Aquino administration in combating graft. For instance, bidding processes can be done online so all stakeholders can determine the offers that are beneficial to the government.
Meanwhile, the need for a pervasive deployment of ICT surfaced when recent events like the natural disasters in Japan and the continuing instability in the Middle East have prompted a bug number of Filipinos to seek information from online counterparts of local and international online agencies.
At the same time, ICT can also be the tool of the citizenry in their effort to curb corruption and inefficiency in the bureaucracy, Tools such as mobile phones with video cameras and social networking sites can deliver the messages effectively to the government
This means government should vigorously deploy ICT and encourage more people to be active using it towards building good governance.
Special Report
First SME Forum tackles SME solutions
 The Plantersbank SME Center for Asia recently concluded its first SME Forum in Makati.. The roundtable, in cooperation with the DFCC Bank of Sri Lanka and the Association of Development Financing Institutions in Asia and the Pacific, was attended by senior executives of government lending institutions, commercial and thrift banks, IT solutions providers and consulting firms.
The forum featured presentations on working models and experiences in SME-oriented lending systems, IT business solutions and mobile banking platforms by experts from ADFIAP...
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SME TechZone
Virtual Expansion
 With economic performance variable in mature markets, the world’s emerging economies are increasingly becoming the engine of corporate growth. It’s no surprise that businesses are looking overseas.
Recession forced many global businesses to stall their expansion for a while, but signs of renewed movement of people illustrate that the rate of globalization is once again on the up: almost two-fifths (39%) of companies plan to increase their expatriate staff over the next five years, according to research from the Economist Intelligence Unit.
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SME-at-Large
Philippine Chamber of Commerce and Industry- Muntinlupa City, Inc.
 The Philippine Chamber of Commerce and Industry (PCCI) - Muntinlupa City, Inc., formerly known as the Muntinlupa Chamber of Commerce and Industry (MCCI), was formed in 1988 to unite the leading businessmen in Muntinlupa through the initiative of then Mayor Ignacio Bunye. The formation of PCCI-Muntinlupa immediately created an impact as there was growth of business interaction between the micro and macro enterprises which later made the city as the “Gateway to the Calabarzon."
The primary mission of the Chamber is to establish opportunities towards the formation of “globally competitive enterprises and enhance the economic interests and quality of life of the Muntinlupa community.” The people behind Philippine Chamber of Commerce and Industry (PCCI) - Muntinlupa City is committed to pursue this lofty objective because they are businessmen and professionals whose objective is to grow the economy in the area.
Philippine Chamber of Commerce and Industry (PCCI) - Muntinlupa City conducts several events on a monthly basis so business leaders can network with their colleagues.
With 12 committees and subcommittees, members of the Chamber can pursue activities based on their interest such as independent business development, community relations, labor relations, sports and fellowship and special projects, advocacy or international affairs. Truly, the Chamber allows a business to find his niche in the organization.
Aside from its role as the voice for local businesses, the Chamber has also solid international roots as Muntinlupa City plays host to approximately 200 multinational companies, as well as 20 consular corps and trade offices.
Working hand-in-hand with the city officials, local civic organizations and the residents, the officials and members of the Chamber work hard to enhance the services available to the community such as world-class shopping, renowned restaurants, extraordinary entertainment and tremendous business advantages.
Please click: www.pccimuntinlupa.com
Tax Calendar
May 12 to May 25, 2011
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May 12, Thursday
E-filing by EFPS-registered withholding agents under Group D of the Monthly Remittance Return of Income Taxes Withheld (BIR Form 1601-C, E and F) for April 2011 on (a) compensation income; (b) income subject to expanded withholding tax; and (c) income subject to final withholding tax.
May 13, Friday
E-filing by EFPS-registered withholding agents under Group C of the
Monthly Remittance Return of Income Taxes Withheld (BIR Form 1601-C, E and F) for April 2011 on (a) compensation income; (b) income subject to expanded withholding tax; and (c) income subject to final withholding tax.
Filing of annual financial statements with the SEC by corporations whose
fiscal year ended on December 31, 2010 with license no. ending in 7 and 8 and whose securities are not registered under the Securities Regulations Code or the Revised Securities Act.
Filing of annual report with the SEC by corporations whose fiscal year ended on December 31, 2010 with license no. ending in 7 and 8 and whose securities are registered under the Securities Regulations Code or the Revised Securities Act, including commercial paper issuers.
Filing of annual financial statements with the SEC by securities brokers
whose fiscal year ended on December 31, 2010 and with license no. ending in 7 and 8.
May 16, Monday
Filing of Corporation/Partnership Annual Income Tax Return (BIR Form
1702) and annual information returns (BIR Form 1702AIF) for both taxable firms and tax-exempt organizations for fiscal year ended January 31, 2011.
Filing of Final Consolidated Capital Gains Tax Return from sale of shares not traded in the stock exchange (BIR Form 1707-A) for the taxable year ended January 31, 2011.
E-filing by EFPS-registered withholding agents under Groups A and B of the Monthly Remittance Return of Income Taxes Withheld (BIR Form 1601-C, E, F and 1602 for Group A) for April 2011 on (a) compensation income; (b) income subject to expanded withholding tax; (c) income subject to final withholding tax; and (d) interest paid on deposits and yield on deposit substitutes/trusts/ etc.
Remittance by all EFPS-registered taxpayers of income taxes withheld for April 2011 on (a) compensation income; (b) income subject to expanded withholding tax; (c) income subject to final withholding tax; and (d) interest paid on deposits and yield on deposit substitutes/trusts/etc.
Submission to the Revenue Regional Director of bound loose leaf books of accounts, records and invoices together with a certification made under oath fiscal year ended April 30, 2011 by taxpayers who were granted permit to use loose-leaf records.
Filing of annual report with the SEC by corporations whose fiscal year ended on January 31, 2011 and whose securities are registered under the Securities Regulations Code or the Revised Securities Act, including commercial paper issuers.
Submission to PEZA of Audited Financial Statements filed with the BIR on April 15, 2011 by PEZA-registered companies whose taxable year ended on December 31, 2010.
Submission to PEZA of quarterly reports of operation for quarter ended
March 31, 2011 by all PEZA registered enterprises.
Remittance of monthly HDMF contributions and multi-purpose loan payments for April 2011 by employers whose names begin with letters A to D.
May 19, Thursday
Remittance of monthly HDMF contributions and multi-purpose loan payments for April 2011 by employers whose names begin with letters E to L.
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May 20, Friday
Filing of monthly VAT declaration (BIR Form 2550M) for April 2011 by
taxpayers using the manual filing system with taxable quarters ending on May 31 or June 30, 2011.
Filing of monthly percentage tax return (BIR Form 2551M) for April 2011 by taxpayers using the manual payment system, except percentage taxes on overseas communication, amusement places, winnings, stock transaction and Initial Public Offering (IPO).
Filing of quarterly percentage tax return (BIR Form 2551Q) for overseas
dispatch or communication originating from the Philippines and for
amusement taxes for the quarter ended April 30, 2011 by taxpayers with
taxable years ending January 31, April 30, July 31 or October 31.
Issuance of Certificate of Creditable Tax Withheld at Source (BIR Form
2307) to income recipients subject to expanded withholding tax for the
taxable quarter ended April 30, 2011.
Filing of annual financial statements with the SEC by corporations whose
fiscal year ended on December 31, 2010 with license no. ending in 9 and 0, and whose securities are not registered under the Securities Regulations Code or the Revised Securities Act.
Filing of annual report with the SEC by corporations whose fiscal year ended on December 31, 2010 with license no. ending in 9 and 0, and whose securities are registered under the Securities Regulations Code or the Revised Securities Act, including commercial paper issuers.
Filing of annual financial statements with the SEC by securities brokers whose fiscal year ended on December 31, 2010 and with license no. ending in 9 and 0.
May 23, Monday
E-filing of monthly VAT declaration (BIR Form 2550M) for April 2011 by
EFPS-registered taxpayers under Groups C, D and E with taxable quarters ending on May 31 or June 30, 2011.
E-filing of monthly percentage tax return (BIR Form 2551M) for April 2011 by EFPS taxpayers under Groups C, D and E, except for percentage taxes on overseas communication, amusement places, winnings and IPO.
Filing of annual financial statements with the SEC by securities brokers whose fiscal year ended on January 31, 2011.
May 24, Tuesday
E-filing of monthly VAT declaration (BIR Form 2550M) for April 2011 by
EFPS-registered taxpayers under Group B with taxable quarters ending on May 31 or June 30, 2011.
E-filing of monthly percentage tax return (BIR Form 2551M) for April 2011 by EFPS taxpayers under Groups C, D and E, except for percentage taxes on overseas communication, amusement places, winnings and IPO.
Remittance of monthly HDMF contributions and multi-purpose loan
payments for April 2011 by employers whose names begin with letters M to Q.
May 25, Wednesday
E-filing of monthly VAT declaration (BIR Form 2550M) for April 2011 by
EFPS taxpayers under Group A with taxable quarters ending on May 31 or June 30, 2011.
E-filing of monthly percentage tax return (BIR Form 2551M) for April 2011 by EFPS taxpayers under Group A, except for percentage taxes on overseas communication, amusement places, winnings, stock transaction and IPO.
Filing of quarterly VAT return (BIR Form 2550Q) for the taxable quarter
ended April 30, 2011 by all taxpayers with taxable years ending April 30, July 31, October 31 or January 31.
Remittance of VAT and percentage tax for April 2010 by EFPS-registered taxpayers.
Submission of Quarterly Summary of List of Sales exceeding P2.5 million (net of VAT) and Summary List of Purchases exceeding P1 million (net of VAT) for fiscal quarter ended April 30, 2011 by manual taxpayers
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SME Power Quote
“God sells us all things at the price of labor. ” – Leonardo da Vinci |
