PinoyBusiness.ORG - Home » Law

Stricter No Smoking rules starting Monday

Roy — Sun, 29 May 2011 02:26:46 +0000

A stricter “No Smoking” policy in public places will be implemented in Metro Manila starting Monday and the Metro Manila Development Authority (MMDA) will see to it that it will be imposed.

The MMDA will be arresting smokers on and secondary roads starting Monday, especially those inside public utility jeepneys and buses. This crackdown against smoking in public places is enforced by the MMDA in partnership with health and environmental officers of Metro Manila’s 17 localities.

MMDA Chairman Francis Tolentino invoked Section 5 of Republic Act 9211 of 2003 or An Act Regulating the Packaging, Use, Sale, Distribution and Advertisement of Tobacco Produces and For Other Purposes, and also the anti-smoking drive of the Land Transportation and Franchising and Regulatory Board in the implementation of the No Smoking policy.

Those who will be caught will be fined P500 for the first offense, or will be required to render an eight-hour community service if they cannot afford to pay the fine.

Possibly Related Topics to Read

Binay’s recommendation on Marcos’ burial at Libingan ng mga Bayani out next month

Roy — Sun, 01 May 2011 19:51:17 +0000

Vice President Jejomar Binay was tasked to make a decision whether or not the late dictator Ferdinand Marcos will be allowed to be buried at the Libingan ng mga Bayani. The vice president said he hopes to submit by next month recommendation on the proposal to bury the former president at the Philippines’ national heroes’ cemetery.

Binay said he is still collating the opinions of different groups before he submits his opinion on the issue. He said the Office of the Vice-President is still waiting for the official position of the registered political parties, civic groups and people’s organizations.

“We want to take into account the views of all sectors and groups. We want to encourage people participation in decision-making,” Binay said, adding that commentaries published in newspapers have also been taken into considerations.

The vice president said that more than 3,000 Filipinos worldwide have responded to the survey conducted asking respondents their opinions about the proposal to give Marcos a hero’s burial. As of April 15, Binay said his office received 3,115 replies of which 2,139 were sent through text message and 976 were sent through email.

“We are interested in getting the people’s opinion on the issue, not to count how many agreed or disagreed. We do not tally how many voted yes or no. The survey is intended to get the people’s sentiments so we could formulate and give the best recommendation to President Aquino,” he said.

The Vice-President said he hopes to conclude the survey and submit his recommendation to President Aquino next month Some 218 congressmen have already affixed their signatures in support of the resolution, but Binay apparently now has the final say.

Those allowed to be buried at the heroes’ cemetery are the military personnel who died in the line of duty or were honorably discharged from the service, Filipino war veterans, former presidents, dignitaries, statesmen and National Artists. The remains of widows of former Philippine presidents, secretaries of national defense and Armed Forces chiefs of staff are also authorized to be interred in the same plot where their husbands are buried.

Possibly Related Topics to Read

Arroyo couple asked to appear before DOJ

Roy — Sun, 01 May 2011 07:07:44 +0000

The Department of Justice (DOJ) subpoenaed Ang Galing Pinoy Party List Rep. Juan Miguel “Mikey” Arroyo and his wife Angela ordering them to appear before the justice department to answer the charges for the P73.85-million tax evasion cased filed by the Bureau of Internal Revenue (BIR) April 7.

The former presidential son and his wife were ordered to appear before the DOJ at 2 p.m. on May 12 and 26. They were also told to submit their counter-affidavit and supporting documents. Arroyo is said to be in the US with his mother, former president and Pampanga Congresswoman Gloria Macapagal-Arroyo.

The subpoena, dated April 28, was issued by a three-member panel of prosecutors tasked to handle the preliminary investigation of the case. The panel is composed of Senior Assistant State Prosecutor Lagrimas Agaran, Assistant State Prosecutor Ma. Christina Barot, and Assistant State Prosecutor Mederlyn Presa-Mangalindan.

The BIR filed the complaint last April 7 against the Arroyo couple after gathering ample evidence. The tax agency accused the couple of wrongful declaration of taxable income and non-filing of income tax returns.

The BIR said Arroyo only paid P2.4 million, P1.7 billion and P376,000 in taxes for the year 2004, 2006 and 2007, respectively, when he and his wife bought several properties worth millions from 2004 to 2009 – including residential houses in the United States, in Lubao, Pampanga and at La Vista Subdivision in Quezon City.

BIR Commissioner Kim Henares said the agency patterned its investigation on the method used by the US authorities against gangster Al Capone and found “substantial underdeclaration of income by over 30 percent.”

Henares said, “Under the Tax Code (NIRC), underdeclaration of taxable income of more than 30 percent is considered a prima facie evidence of fraudulent return.” Arroyo also supposedly did not file income tax returns (ITRs) for the taxable year 2005, 2008 and 2009, while his wife did not file ITRs from 2003 to 2009.

If found guilty, the couple could face imprisonment of up to four years and fine of at least P30,000 for each count of underdeclaration of taxes, and imprisonment of up to 10 years and P10,000 fine for each count of non-filing of income tax return.

Possibly Related Topics to Read

President wants oil firms to open books to public

Roy — Thu, 21 Apr 2011 11:23:46 +0000

President Benigno “Noynoy” Aquino III yesterday said he wants oil companies to open their books to public scrutiny to prove that they were not taking advantage of the public in their series of oil price increases.

“That was my position ever since I have been in public service, isn’t it? If reasonable, why can’t they show it?” the President told reporters in an ambush interview at the Ninoy Aquino International Airport Terminal 3 in Parañaque where he led an inspection of the facility.

The president also asked the Deparment of Energy (DOE) to find way of simplifying the computation of prices for the benefit of the public. “It will show, demonstrate if prices are right or wrong. And again, they repeatedly answer that all sectors are involved in the computation, face to face, nothing is hidden from them as to how pump prices are arrived at,” Aquino said.

He said the secretary would always tell him that every time that they have been demonstrating the formula on how to arrive at prices, they have been very transparent to include even the militant transport group.

DOE’s director for Oil Industry Management Bureau Zenaida Monsada said the recent price hikes were higher than what the energy department’s computation. The DOE sent letters to the oil firms asking them to explain why they have a higher price increase that what official computation should indicate.

Chevron, after receiving the letter from DOE, rolls back it prices of its oil products a day after increasing the same. Petron, for its part, promised to freeze its prices during the Holy Week. “We have no plans of increasing this week,” the company said.

Meanwhile, Unioil Petroleum Philippines Inc. is offering its gasoline products for P50 per liter for a minimum of P1,000 purchases. The company said the promo is in line with its commitment to corporate social responsibility.

Aside from the request to open their books, the government is also planning to issue an executive order that would ban further oil price increases.

Possibly Related Topics to Read

Government plans EO to freeze oil prices

Roy — Thu, 21 Apr 2011 08:58:35 +0000

In response to the steady rising of oil prices, the Aquino government is planning to resort to “extreme legal measure” by issuing an executive order that would ban further oil price increases. The same has been done during the Arroyo administration when Executive Order was in issued in 2009 to freeze oil prices.

Department of Justice (DoJ) Secretary Leila de Lima said, “Talking about possibilities, there’s always such a possibility of coming up with an executive order freezing the oil prices. If it comes to that, it will basically and primarily be an executive decision or action.” She further added that such a measure would be “legally feasible.”

The DoJ, together with the Department of Energy (DOE), has mandates under the oil deregulation law to ensure that the oil price adjustments are reasonable.

The warning on an executive order to freeze oil prices came after the DOE demanded an explanation from oil firms whose recent price hikes were found out to be above the energy department’s prescribed adjustments based on a similar formula used by local firm. The Tuesday price increase was the 13th price hike implemented by oil companies this year.

Oil firms Shell, Chevron and Total increased prices of regular gasoline by 70 centavos liter; unleaded gasoline, 60 centavos; diesel, 25 centavos; and kerosene, 40 centavos as 6 a.m. on Tuesday. Per DOE’s computation, price hikes should have only been P0.16 per liter for diesel and P0.39 for gasoline.

Chevron, after receiving the letter from DOE, rolls back prices of regular gasoline by P0.70 per litter, unleaded gasoline by P0.60, diesel by P0.25 and kerosene by P0.40 by noon of Wednesday.

De Lima reiterated the plan to up a new body which will be called “DOJ Office for Competition,” which she said would “address cartels and restrictive agreements.” The proposed body would conduct “fact-finding investigations and determine whether violations of anti-trust and related laws are being committed by persons, natural and juridical.”

“Deregulation or privatization does not mean big business is free to do anything under the sun. Public welfare is paramount,” she stressed.

“This body will faithfully carry out constitutional and existing legal provisions against combinations in restraint of trade. Proceedings will depend on the specific industry and/or nature of the case,” De Lima added.

Possibly Related Topics to Read

Saudi grants Royal Clemency to Filipino drug mule

Roy — Tue, 19 Apr 2011 07:51:05 +0000

The Department of Foreign Affairs (DFA) announced on Monday that the overseas Filipino worker (OFW) who was sentenced to death in Saudi Arabia on November 2009 for involvement in smuggling shabu into the country was granted pardon and freed Sunday.

The DFA did not release his name, in deference to the request of his family for family.

The OFW was apprehended by Saudi law enforcement agents in February 2008 after he received a postal package with shabu hidden inside. The DFA said, smuggling and selling of illegal drugs in Saudi Arabia are crimes punishable by death.

The Philippine embassy in Riyadh exerted utmost efforts in ensuring that his legal rights were respected during the investigation process and in trial. He sentenced to death by a tribunal of three judges in November 2009. Through the Philippine embassy, the OFW filed an appeal.

Through the help of the Philippine post in Riyadh, two members of the tribunal reduced the penalty from death to 15 years imprisonment, 1,500 lashes, and a karama (fine) of 100,000 Saudi Riyals. The Embassy, citing the new ruling, included the name of the OFW in the list submitted to the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz al Saud for the grant of Royal Clemency.

The DFA said, “The Embassy’s efforts were favorably acted upon, and he was ordered released after serving a total of three years in detention.” The OFW tearfully thanks the Embassy upon his release, for its relentless efforts for his freedom.

Charge d’Affaires (CDA) Ezzedin H. Tago said, “His release is testament to the hard work and tireless dedication of the men and women of the Philippine Embassy in Riyadh in safeguarding the welfare of every Filipino in Saudi Arabia.”

He is the third Filipino sentenced to death in Saudi Arabia whose released was successfully secured by the Philippine Embassy.

Possibly Related Topics to Read

Nograles resigns as PDIC head

Roy — Sun, 17 Apr 2011 18:07:11 +0000

At the height of the controversy surrounding the closure of the Aguire-led Banco Filipino Savings & Mortgage Bank, Philippine Deposit Insurance Corp. (PDIC) president Jose Nograles has resigned from his post as head of the state-run deposit insurer.

Sources were quick to clarify that the decision of Nograles to quit was not in any way connected to the issue of Banco Filipino that was ordered closed by the Bangko Sentral ng Pilipinas (BSP) and placed under PDIC receivership last March 17.

Reports say he submitted his resignation letter to the President, citing “differences in policies,” through Finance Secretary Cesar Purisima last Friday. He will stay in office until end of May this year only. He has gone on a 2-week leave from the agency. Nograles term would have ended in 2012.

According to some reports, the PDIC chief has been reportedly unappreciated by some members of the president’s economic team. He was also unseated earlier this year as director of the United Coconut Planters Bank (UCPB).

Under his stewardship, the PDIC became an ISO-certified agency for claims settlement operations, which a first in its history. Nograles is also credited for a number of policy and strategy innovations in the agency, such as amending the agency’s charter that strengthened its regulatory powers over banks, as well as increasing the maximum deposit insurance coverage to P500,000 from P250,000 per depositor.

During his term, the PDIC was able to ensure the stability of financial system from the aftermath of the global financial crisis in 2008, which resulted in a number of bank closures. The most notable of which was PDIC’s handling of the Legacy bank fallout.

Before his term as PDIC head, he was a senior executive vice-president of Land Bank of the Philippines. Nograles was an appointee of former President and now Pampanga Rep. Gloria Macapagal-Arroyo as PDIC president in 2008. He is the brother of former House Speaker Prospero Nograles who used to head the House contingent in the Commission on Appointments.

Possibly Related Topics to Read

DoJ forms panel to investigate BSP and Banco Filipino counter-charges

Roy — Thu, 14 Apr 2011 03:57:25 +0000

The Department of Justice (DoJ) received charges filed by Bangko Sentral ng Pilipinas (BSP) and Banco Filipino Savings and Mortgage Bank against each other. To conduct a preliminary investigation on the said charges, Justice Secretary Leila de Lima formed a three-man panel lead by Senior State Prosecutor Rosanne Balauag, and members Assistant State Prosecutors Bernardo Parico and Agapito Fajardo Jr.

Formed under Department Order No. 282, the immediate task of the panel is to consolidate the two complaints. Both BSP and Banco Filipino are embroiled in litigation after the BSP’s Monetary Board and the Philippine Deposit Insurance Corp. seized the bank’s real estate assets and placed it under receivership.

Banco Filipino accused the BSP and Monetary Board officials of violating Section 3 (e) of RA 3019 (Anti-Graft and Corrupt Practices Act) when it denied the grant of emergency loans needed by the bank under an emergency situation, and when it eventually ordered the bank’s closure and receivership. The bank said it has been seeking P25-billion worth of financial and regulatory relief as well as P19 billion in compensation for its alleged illegal closure in 1985.

The BSP, on the other hand, filed a counter-complaint seeking prosecution of the bank’s directors for alleged willful refusal to file audited financial statements from 2002 to 2007. BSP also accused BF president Teodoto Arcenas Jr. and directory Perfecto Yasay Jr. of falsification and issuance of false statements to hide the true financial condition of the bank; willful refusal to report loans; 26 counts of violation of BSP laws and directives and willful refusal to cease conduct of unsafe hazardous and unsound bank practices.

Banco Filipino also has a pending petition to the Court of Appeals seeking the nullification of MB Resolution No. 372-A which placed the bank under receivership and barred it from continuing its business operations in the country.

Possibly Related Topics to Read

Immigration barred 34 OFWs from leaving

Roy — Thu, 14 Apr 2011 02:04:46 +0000

The Bureau of Immigration (BI) barred 34 prospective overseas Filipino workers from leaving the country. The passengers were prevented from boarding a Philippine Airlines (PAL) flight to Bangkok after confessing that they were OFWs disguised as business travelers after intense questioning from immigration officers at the Ninoy Aquino International Airport (NAIA).

BI airport operations chief Lina Andaman Pelia said, “They were offloaded for not having the required clearances and employment permits from the Philippine Overseas Employment Administration (POEA).”

The Bangkok-bound passengers said they were supposed to find employment in Thailand. Some of them had work in Dubai and other Middle East countries. They were allegedly travelling on a business visa that was provided by a company in Dubai that was supposed to process their work permits in Thailand.

BI Commissioner Ricardo David Jr. commended the immigration officers for their vigilance and asked them to be more careful and step up their efforts in not allowing undocumented OFWs. The immigration office, however, refused to divulge the names of passengers as the anti-human trafficking law prohibits the public disclosure of both the traffickers and their victims.

During the course of their investigation, the immigration officer found out that the travelers were going to work for the Super Giant Touring Carnival owned by Apirom Properties Company Ltd., an affiliate of the Big Fun World based in Dubai and where many of the passengers previously worked.

Possibly Related Topics to Read

SC upholds cityhood ruling

Roy — Wed, 13 Apr 2011 08:11:45 +0000

The Supreme Court (SC), in their last summer session in Baguio City, upheld the constitutionality of laws passed by the 11th Congress on the cityhood of 16 municipalities. The SC justices kept their 7-6 vote, dismissing the appeal of the League of Cities of the Philippines (LCP) that various cityhood laws be declared unconstitutional.

The cityhood laws questioned were those contained in Republic Acts 9389, 9390, 9391, 9392, 9393, 9394, 9398, 9404, 9405, 9407, 9409, 9434, 9435, 9436 and 9491. However, the resolution was not yet released as it was still being circulated for signature of the magistrate, SC spokesman Midas Marquez said.

The LCP, as well as other sectors, have been criticizing the SC for flip-flopping on the case in its earlier rulings. This time, the High Court stood by its fourth ruling that the cityhood laws do not violate Article X Section 10 and the equal protection clause under Article III Section 1 of the Constitution.

SC junked the contention of LCP that the conversion into cities of the 16 municipalities violated Article X Section 10 of the Constitution, which states that “no province, city, municipality or barangay shall be created, divided, merged, abolished or its boundary substantially altered, except in accordance with the criteria established in the local government code and subject to approval by a majority of votes cast in a plebiscite in the political units directly affected.”

In its ruling last Feb. 15, the SC reversed itself for the third time and reverted back to its second ruling in December 2009, which held that respondent LGUs were qualified cityhood applicants before the enactment of RA 9009: “To impose on them the much higher income requirement after what they have gone through would appear to be indeed unfair.

“Thus, the imperatives of fairness dictate that they should be given a legal remedy by which they should be allowed to prove that they have all the necessary qualifications for city status using the criteria set forth under the LGC of 1991 prior to its amendment by RA 9009. Truly, the peculiar conditions of respondent LGUs, which are actual and real, provide sufficient grounds for legislative classification,” the SC said.

The SC’s new ruling on the case was a result of the change in vote cast by Associate Justice Jose Mendoza, who voted last year for the unconstitutionality of the laws but reconsidered his stand last February.

Republic Act 9009 took effect on June 30, 2001. It amended Section 450 of the Local Government Code by increasing the annual income requirement for conversion of a municipality into a city from P20 million to P100 million. The amendment was intended to discourage the rush of conversion into cities for the purpose of getting a larger share in the Internal Revenue Allotment (IRA).

The 12th Congress however adopted Joint Resolution No. 29 which sought to exempt the 24 municipalities whose cityhood bills were not approved in the 11th Congress from the P100-million income requirement.

Only 16, out of the 24 municipalities, expressed intention to be converted into cities. The House and the Senate later approved the cityhood bills which lapsed into law on various dates from March to July 2007.

Possibly Related Topics to Read

Ampatuan faces plunder raps

Roy — Wed, 13 Apr 2011 00:21:16 +0000

Former governor Zaldy U. Ampatuan of the Autonomous Region in Muslim Mindanao (ARMM) is facing plunder charges. Interior and Local Government Secretary Jesse M. Robredo said charges will be filed against Ampatuan after an audit report revealed that unaccounted amount of P2.5 billion in government funds. Robredo said the charges could be filed by the end of the month.

He added that fourteen other officials from the Office of the Regional Governor will also be charged after a report by the Commission on Audit (CoA) showed that the office had alleged anomalous transactions between 2008 and 2009 that have been traced to the missing fund.

“The CoA report lists the circumstances of the malverisation, along with the people that should be held accountable and the pieces of evidence pertinent to the charges. We will submit these to the DoJ for review within the week,” Robredo said.

Robredo met with Justice Secretary Leila de Lima and Solicitor General Jose Anselmo Cadiz to discuss the CoA report about the unaccounted state funds. De Lima said she will form a special panel of prosecutors which will review the documents and recommend action, whether to file charges with the Department of Justice (DoJ) or the Ombudsman.

She said, “We need to evaluate the documents so that we can come up with an appropriate legal strategy in handling the case, such as whether the cases can be split up depending on related acts and transaction.”

Additional charges could also be filed against the former ARMM governor and the others later as three other audits of the Department of Public Works and Highways in ARMM, the social fund of the region, and in the province of Maguindanao are completed. “However, it’s important to get the case rolling because if we wait for the other audits to finish, we could fail to file any case at all,” De Lima said.

The justice chief also noted that during the term of former president Gloria Macapagal-Arroyo, widely believed to be a political ally of the Ampatuans, the CoA has not outrightly come up with its report on the audit of ARMM funds. “Never before has there been an audit of ARMM funds, even though we had a lot of information about the funds going to the coffers of the Ampatuans,” said De Lima.

“There are supposed to be auditors assigned to areas like that. It’s either the auditors are afraid or complicit. But more often than not, they would be afraid because no one would dare check whether a particular project exists or has been finished,” she added.

The recently released CoA report, based on an audit of the Office of the Regional Governor of ARMM from January 2008 to September 2009, revealed the office had “a total disregard of the general audit rule that payments must be made in check” as most of the dubious transactions were carried out using cash.

Possibly Related Topics to Read

Smartcards will be issued on May 2

Roy — Tue, 12 Apr 2011 11:41:26 +0000

The smartcards would be released to public utility jeepneys (PUJs) and tricycle operators on May 1 or May 2, according to presidential spokesman Edwin Lacierda. The implementing rules and regulations were finalized and issued last week.

Lacierda said that Malacañang also warned public transport groups of stiff sanction if they jeopardize the public welfare with crippling strikes. “Our position is as long as you do not prejudice the riding public, we will respect your right to express your opinion. However, it’s another thing if the riding public is affected,” he said.

The smartcards would enable PUJ franchise holders to avail of fuel discounts. The cards will carry a load of P1,050 per card or about P35 per day. Some 268,245 will be issued to PUJ franchise holders nationwide, while almost one million tricycle drivers will get P150 fuel subside each or about P5 per day. A total of P450 million funds have been initially allotted for the program.

The presidential spokesman also said that the president’s economic team is still studying all options to cushion the effects of the rising fuel costs and of other basic commodities. He said the economic team may be sending their report to the president within the week.

There have been clamors from some sector for President Aquino to temporarily lift the 12-percent value added tax (VAT) on petroleum products to ease the burden of high oil prices, in lieu of the fuel subsidy issued to drivers and operators of PUJs.

Lacierda however said that some of the members of the economic team are not for the lowering of the VAT for fear that may lead to a bigger budget deficit. “Our investors and our credit ratings will also be affected by this,” he added.

Possibly Related Topics to Read

Johnson & Johnson fined $70 million by US authorities

Roy — Sun, 10 Apr 2011 05:23:45 +0000

Multinational firm Johnson & Johnson was fined by the United States authorities $70 million on for bribing doctors in Europe and paying kickbacks for contracts under a United Nations (UN) relief program in Iraq.

According to the US Department of Justice and Securities and Exchange Commission, the cosmetics and drug giant has paid doctors and hospitals in Greece, Poland and Romania for contracts and to promote its drugs and medical devices.

The company was also said to have paid kickbacks between the years 2000-2003 for 19 contracts under the UN Oil for Food Program, which provided humanitarian supplies to Iraqis while the country was still ruled by Saddam Hussein.

Johnson & Johnson agreed to pay US authorities $70 million to settle the charges, including $48.6 million to the SEC and $21.4 million to the Justice Department. US prosecutor Mythili Raman said that the company had “cooperated extensively” during the investigation.

SEC enforcement director Robert Khuzami said, “The message is plain; any competitive advantage gained through corruption is mirage. J&J chose profit margins over compliance with the law by acquiring a private company for the purpose of paying bribes, and using sham contracts, offshore companies, and slush funds to cover its tracks.”

Based on the investigation conducted by the authorities, Johnson & Johnson’s subsidiaries Cilag AG International and Janssen Pharaceutica made $858,000 dollars in payoffs to Saddam Hussein’s governments to win $9.0 million in contracts under the deeply corrupted Oil for Food Program.

The kickbacks were said to have been concealed from the United Nations by inflating Janssen and Cilag’s contract prices by 10 percent. The SEC also said that the company was under a related investigation by Britain’s Serious Fraud Office and that a resolution was also expected.

Johnson & Johnson is the 15th largest company in the US in terms of market capitalization.

Possibly Related Topics to Read

Willie Revillame’s show goes on hiatus

Roy — Sat, 09 Apr 2011 02:36:41 +0000

After being put in the hot seat once again, controversial television host Willie Revillame announced last Friday that his program “Willing Willie” will be off the air temporarily. Revillame made the announcement after major sponsors started pulling their ads one by one.

The controversy started on the March 12 episode of “Willing Willie” where six year old Jan-Jan, who was one of the show’s contestants, was show dancing and gyrating his hips as if stimulating a striptease as show host Revillame was laughing and egging him, together with the show’s live studio audiences. All throughout, the boy was crying as he was dancing. This triggered strong rebuke from the public, government’s rights and social welfare agencies, child’s rights advocates and hundreds of concerned public.

Revillame, however, maintained that he did not abuse the boy and even hit broadside critics and telling government agencies to instead focus on helping the poor. He also threatened with lawsuit those who attacked him on Twitter. He said “Willing Willie” will be on hiatus for two weeks and after the Holy Week, the management of TV5 would decide if the show will continue to air or not.

Internet activist even created a page in active social media calling for Revillame’s oust from “Willing Willie” and a product boycott of the show’s sponsor, which thus far is unprecedented in the country’s history of consumer activism.

Taking on the cue, major sponsors started pulling their ads from show. Jollibee Foods Corporation last Saturday said it was “holding off” ad placements of its newly-acquired Mang Inasal restaurant chain. Procter & Gamble Philippines likewise suspended advertising on the show. Del Monte Pacific Ltd. followed suit and pulled off its sponsorship of the beleaguered primetime game show.

CDO Foodsphere Inc. also announced that it was withdrawing sponsorship of the show. A brief note in its website states that while the company they were jolted “out of our comfort zones” even as they maintained that they were “in no position to pass judgment” on the issue. Cebuana Lhuillier Pawnshop also announced it would stop advertising on the show beginning Monday.

Possibly Related Topics to Read

BSP eases on bank’s qualifying capital requirements

Roy — Fri, 08 Apr 2011 05:05:20 +0000

The Bangko Sentral ng Pilipinas (BSP) relaxes on the requirement on the risk-based assessment of qualifying capital instruments. The BSP amended Circular No. 709 on the Definition of Qualifying Capital Instruments under the Risk-Based Capital Adequacy Framework for Banks and Quasi-Banks by removing the loss absorption feature from among the requirements that an external legal opinion must cover.

The BSP said that Circular No. 709 was issued last January in order to align the criteria of qualifying capital instruments of banks and quasi-banks with those of the Basel Committee of Banking Supervision, particularly the standards on the minimum conditions for inclusion of hybrid tier1 and lower tier2 capital. After review however, the BSP found out that the requirement of an external legal opinion on the compliance of lower tier2 both have subordinate and loss absorption features which were not required.

The new provision, which is Circular No. 716 states, “Only the subordination feature is applicable to lower tier2 instruments while the loss absorption feature applies only to hybrid tier1 instruments. Circular No. 716, which made the requirement less rigid, was signed by BSP Governor Amando M. Tetangco Jr. last March 25.

The BSP amended the existing risk-based capital adequacy framework in compliance with Basel 3 provisions to further improve the quality of bank capital. It has disallowed new issuances of upper tier2 capital but eligible capital instruments under hybrid tier1 capital, upper tier2 and lower tier2 capital based on existing regulations that have been issued as of December 31, 2010 would continue to be recognized under their respective categories until such time that further guidance on this aspect was issued by the BSP.

The BSP said last January that is has specifically adopted the Basel 3 criteria for inclusion of non-common equity components in banks’ capital base as basis for determining capital instruments that could be counted as regulatory capital by Philippine banks from January 1 this year and onwards. Basel 3 revises the existing international capital standards, commonly referred to as Basel 2, and represents the core of international banking reforms that were deemed to address the weaknesses that were made evident during the global financial crisis.

“The adoption of the new criteria for capital instruments is part of BSP’s commitment to continuously institute reforms that will promote a stronger banking system,” said Tetangco.

Possibly Related Topics to Read

BIR files tax evasion charges against Mikey Arroyo

Roy — Thu, 07 Apr 2011 09:42:54 +0000

The Bureau of Internal Revenue (BIR) filed a P73.85 million tax evasion case against Ang Galing Party-list Representative Juan Miguel Arroyo and his wife, Angela. Perhaps, the biggest fish yet, in its campaign against tax evaders, BIR Commissioner Kim Henares said the couple were charged for attempting to defeat taxes and failing to file income tax returns (ITRs) under Sec. 254 and Sec. 255 of the Tax Code.

Henares said that Arroyo, son of former president and incumbent Pampanga Representative Gloria Arroyo, did not file ITRs for the years 2005, 2008 and 2009, while his wife had no tax returns from 2003 to 2009. She said the couple failed to pay taxes even as Arroyo declared in his Statement of Assets, Liabilities and Net Worth (SALN) millions of pesos worth of real and other properties acquired from 2004 to 2009.

Based on the investigation made by BIR, the Arroyos owned residential houses in Lubao, Pampanga, in La Vista Subdivision in Quezon City, as well as in the United States. They also declared motor vehicles, shares of stock, jewelry, clothes and other personal effects as assets.

Henares said in a press conference at the Department of Justice, “If you report you have an asset, you should be able to say where it comes from, and where it comes from always normally, there’s a tax consequence. So if somebody donated it to you, there should be a donor’s tax. If you inherited it, you should have an estate tax. If you bought it, you should have income from which you got the funds to buy this property. They claim they have all these assets but they have no income tax returns.”

The BIR also said the couple also underdeclared their incomes by more than 30% for taxable years 2004, 2006 and 2007. “A comparison made by the BIR of the Arroyo couple’s increase in net worth with their reported taxable income using the net worth method of investigation first used in the US against gangster Al Capone revealed substantial underdeclaration of income of more than 30%,” the agency said.

The BIR said the Arroyos owe the government at least P73.85 million, inclusive of surcharges and interest. If found guilty, they will face a fine of up to P100,000 and imprisonment of 4 years for violating Sec. 254 of the Tax Code, and a fine of up to P10,000 and imprisonment of 6 years for violating Sec. 255.

Possibly Related Topics to Read

US surrendered Ligot’s assets to the Philippines

Roy — Thu, 07 Apr 2011 07:40:24 +0000

The ongoing investigation of former military comptroller Lieutenant General Jacinto and wife Erlinda Ligot has produced results as United States Ambassador Harry Thomas Jr. announced on Thursday that the US government has turned over to the Philippines $132,000 worth of assets of Mrs. Ligot.

Thomas, in his meeting with Justice Secretary Leila De Lima, said, “Today, I am pleased to announce the first ever return of funds in the assets of forfeiture case where the US government is returning $132,000 to the Philippine government.”

The Philippines made a request before the US government back in 2009, to look into real estate transactions of assets belonging to Mrs. Ligot, pursuant to the Mutual Legal Assistance Treaty (MLAT).

Thomas noted, “I think this is to show the benefits of the MLAT we have with the Philippines and to show the confidence that the US government places in the Aquino administration that this will be returned to the Philippines treasury and will be used for the benefit of the Filipino people. He added that this will not be the last, there will be more cases “where we will be cooperating with the Philippine government.”

The Ligots are being investigated and facing a P428-million tax evasion case with the Department of Justice (DoJ). Based on the complaint filed by the Bureau of Internal Revenue (BIR), General Ligot failed to file his income tax returns (ITRs) for taxable year 2001, while his wife Erlinda failed to file her ITRs from 2001 to 2004. The couple also failed to declare their income net worth of P41.854 million in 2001; P103.6 million in 2002; P165.367 million in 2003; and P148.955 million in 2004.

Ligot is also among the several retired officers investigated by the Senate for allegedly pocketing government funds and buying US property. During the recent investigation conducted by the Senate Blue Ribbon Committee, it was discovered that some P740 million were deposited and later withdrawn from the accounts of the Ligot couple.

Possibly Related Topics to Read

LTFRB warns those who will join the transport strike

Roy — Tue, 29 Mar 2011 02:50:17 +0000

The Land Transportation Franchising and Regulatory Board (LTFRB) wants to immediately put their foot on the planned transport holiday of Jeepney operators on Thursday. The LTFRB warns those who will on the jeepney strike could suffer the same fate as some bus operators.

The agency was referring to the fate of bus operators whose franchises were either cancelled or suspended over a wildcat strike last year. LTFRB board member Manuel Iway said jeepney operators should not use the planned transport strike just to air their grievances.

Iway mentioned that LTFRB either cancelled or suspended the franchises of bus firms whose units were found to have participated in the strike last year because they want to be excluded in the number-scheme. “Their services are need by the riding public,” he said.

Influential transport group PISTON made an announcement that it would lead a nationwide strike to protest against oil price increases. Quick to react, Iway said LTFRB will be sending people to around on the day of the planned strike assess the effect of the transport holiday on the commuters. “If there will be fewer jeepneys or none on the roads, we will conduct an investigation on these jeepney operators,” he said.

He warned is such a scenario happens, the agency will send show cause orders to the jeepney operators for them to explain why they should not be sanctioned. The LTFRB executive also said they have coordinated with the Metropolitan Manila Development Authority and the Philippine Army to have vehicles on standby during the planned transport holiday, just in case there is a need to ferry affected passengers on that day.

Possibly Related Topics to Read

LTFRB grants provisional P1 fare hike to Metro Manila buses

Roy — Mon, 28 Mar 2011 16:03:35 +0000

The Land Transportation Franchising and Regulatory Board (LTFRB) granted a P1 provisional fare increase for Metro Manila buses. The resolution was signed last Friday approving the fare adjustment for the first five kilometers. There will be no provisional increase on the succeeding kilometers though.

The increased fare would be P10 for the first five kilometers and P1.85 for every succeeding kilometer for ordinary buses. It will be P12 for the first five kilometers and P2.20 for every succeeding kilometer for air-conditioned buses.

The new fare adjustment will take effect on Tuesday and shall be in place until the final disposition of a pending petition for fare hike of Inter-city Bus Operators Association (Interboa), or unless modified or cancelled by the LTFRB board. The Interboa and other operators’ associations have asked the LTFRB to revoke past orders concerning the provisional reduction of fare rates for buses.

The board granted the provisional increase citing increases in fuel prices and the recent turmoil in oil-producing countries that have burdened the transport sector. The resolution stated, “This board is constrained to grant a provisional increase in the public utility buses or PUBs fare rates in accordance with the Public Service Act.”

LTFRB said that while it recognizes the plight of the commuting public “in this time of crisis,” it could not be insensitive to the clamor of the operators. “For this year alone, the country has experienced a total of 10 price increases with only rollback on diesel prices. March 15, 2011 data show the price of diesel stands at around P46.65 per liter, with no sufficient indication that the oil price in the world market will stabilize and revert back to its previous prices,” the board said.

The board added that it is compounded by the growing “political uncertainties in oil-producing countries, which has caused unnecessary burden on the transport sector.

LTFRB chairman Nelson Laluces and board member Samuel Julius Garcia approved of the resolution while board member Manuel Iway offered a dissenting opinion.

Iway said “judicial notice should be taken that Visayas and Mindanao’s fuel prices are higher by as much as P5 compared to Luzon’s fuel prices and still, a petition was filed in Region 7 praying for a reduction of fare rates on PUBs from P8.50 to P6 for the first five kilometers and from P1.40 to P1.20 for every succeeding kilometer.”

Iway said this case raises a presumption that even with the fuel price increase, the bus operators can still operate profitably.

Possibly Related Topics to Read

Willie Revillame condemned for exploiting 6-year old boy

Roy — Mon, 28 Mar 2011 11:27:39 +0000

Willie Revillame once again finds himself on the hot seat, this time for subjecting a 6-year old boy named Jan-Jan to what others said was public humiliation on his primetime TV5 show Willing Willie. A YouTube video of the kid dancing and gyrating his hips like a macho dancer has gone viral and has been shared on Facebook countless times. The video generated a lot of angry reactions on via social media and from a lot of bloggers as well.

Most of the comments on the video noted the audience who all were laughing together with the show’s host, Revillame, as the boy was dancing, even as tears started rolling down Jan-Jan’s cheeks. Revillame even asked the boy to repeat the dance when he returned to his place near him, where Revillame mimicked him as he danced, giving him P10,000 afterwards.

The Department of Social Welfare and Development (DSWD), compelled by the ordeal that the 6-year old boy went through, condemn Revillame’s action and asked for the censorship of the show. DSDW Dinky Soliman wrote to Manny Pangilinan asking for censure of Revillame and to stop having children on his show. She also sent MTRCB a copy of the letter she sent to Pangilinan.

The latest on the news was Willing Willie show producer, Revillame and TV5 have already issued a public apology on the said segment featuring the 6-year old Jan-Jan, and said that there was never any intention to humiliate or abuse him or any contestant on the show.

The apology continued that “Willing Willie” is a program conceptualized to bring joy and hope and shine the spotlight on ordinary Filipinos. The program aims to provide a venue for everyone to show their talents, tell their stories and make their dreams come true. This is the thrust of everyone involved in the program, particularly its host, Revillame. It ended with the TV station and Wil Productions expressing “profound regret” for any insensitivity on their part, and thanked all those who have expressed concern.