Green currency serves as a means of exchange at a new park in the central business district (CBD) of Alabang, Muntinlupa City, to propagate trees and plants and promote recycling at the onset of what the United Nations chief calls “the era of global boiling.” UN Secretary General António Guterres’ declaration that “the era of...
Author: Juan V. Sarmiento Jr. (Juan V. Sarmiento Jr.)
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As amnesty deadline nears, many property heirs unaware of crucial regulation
It’s a race to the finish for heirs scrambling to settle the estate tax for properties they inherited from relatives who died in or before 2017 as the window of opportunity narrows. Heirs can pay the estate tax and beat the amnesty deadline even without a settlement of the estate if they can submit other...
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With amnesty, property heirs can save on costs, avoid aggravation
Those who inherited property from loved ones who died in or before 2017 better avail themselves of the estate tax amnesty while there is still time. The amnesty period is to end on June 14, unless the government extends the deadline anew. An estate tax is a levy on the privilege of transmitting property upon...
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The conglomerate that a ‘sari-sari’ store built
PANGLAO ISLAND, Bohol—A group of companies that grew from a sari-sari store in Bohol’s capital Tagbilaran City has been so dominant in the commercial center business that mall magnates like the Sys, Ayalas, Gokongweis, Gotianuns or Gaisanos have not gained a foothold in the province. Alturas Group of Companies (AGC) is the clear mall king...
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Going local and green to build 50-hectare, mixed-use ‘family dream’
PANGLAO ISLAND—Bohol’s homegrown conglomerate, the Alturas Group of Companies, began as a sari-sari store 50 years ago in the provincial capital of Tagbilaran. Now it is expanding its beach resort here into a 50-hectare, mixed-use estate at a cost of P25 billion. The expansion is a vote of confidence in the prospects of tourism on...
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Continue to oppose Maharlika Investment Fund, says ex-central bank official
As the battle shifts to the Senate after the House of Representatives overwhelmingly approved the bill creating the Maharlika Investment Fund (MIF), a former official of the Bangko Sentral ng Pilipinas (BSP) has called on the public to amplify its objections to the measure. Diwa Guinigundo, BSP deputy governor until 2019, said that while the...
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‘Maharlika Wealth Fund’ is uniting Filipinos in resisting it
The cost of administering the Maharlika Investments Fund (MIF), the Philippines’ sovereign wealth fund to be established should the bill seeking its creation be passed into law, is alarming many Filipinos. Its ability to generate the “consistent and stable investment returns” that its proponents tout is also raising loud questions. One wonders how the Fund...