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SME in Focus
Good governance and the Philippine economy
The World Bank is optimistic about prospects of the Philippine economy in 2010.
Coming from a 7.3 percent growth in gross domestic product in the first quarter, “there is lot of potential for growth with the new administration,” says a World Bank senior economist.
However, the new administration will have its hands full. The challenges include declines in private investment, a ballooning budget deficit, foreign debt and gaps in tax collection. It will not be a walk in the park for the incoming administration of President Benigno Aquino III.
The incoming president has buoyed the hopes in the business community and the general public with promises of good governance. If the new administration shows its determination to stand and deliver on this key plank, it will certainly find many allies in and out of government in pursuing much needed structural reforms.
Special Report
SME.com.ph joins Intel’s Enabling Entrepreneurs ICT Forum
SME.com.ph had the opportunity to interact with the different organizations supporting small medium enterprises (SMEs) when it joined the Intel Microelectronics’ Enabling Entrepreneurs ICT Forum held on July 2 at the Crowne Plaza Hotel in Ortigas.
In her talk, Russelle Trinidad, sales and marketing manger of SME.com.ph, said that the company advocates the use of information communications technology to enhance the capabilities of the SMEs.
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Featured SME
YSA Skin Care Center
Blending expertise and entrepreneurial skills
Aside from being a highly-trained dermatologist, Dr Isabel Lopez-Nazal has proven to be a skilled entrepreneur. Realizing the market needs a provider that can deliver and affordable dermatological services, and after getting an advice from her husband, she converted her garage into a small care clinic called Clinica Dermatologica. In 1985.
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Tax Calendar
2010 July
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14 Wednesday
Withholding Tax
E-filing of June 2010 taxes withheld (on compensation income, income payments subject to expanded withholding tax and income payments subject to final withholding tax by EFPS filers belonging to Group B* (BIR Form Nos. 1601C, 1601E and 1601F
MAP
E-filing of June 2010 monthly alphalist of payees for monthly remittance returns (BIR Form Nos. 1601E and 1601F) by EFPS filers belonging to Group B*
15 Thursday
Annual Income Tax
Payment of income tax by corporations and partnerships with taxable year ended 3.31.10 (BIR Form Nos. 1702 and 1702 AIF)
SAWT
Filing of income taxpayer’s summary alphalist of withholding agents of income payments subjected to withholding taxes for the year ended 3.31.10 (as attachment to BIR Form No. 1702) |
19 Monday
SEC
Filing of annual audited financial statements by securities brokers with taxable year ended 3.31.09
20 Tuesday
Monthly VAT
Remittance of monthly VAT due on June 2010 transactions for the quarters ended 7.31.10 or 8.31.10 by non-EFPS filers (BIR Form No. 2550M)
Monthly Percentage Tax
Remittance of monthly percentage tax due on June 2010 transactions for the quarters ended 7.31.10 or 8.31.10 by non-EFPS filers (BIR Form No. 2551M)
SAWT
Filing of VAT and percentage taxpayer’s summary alphalist of withholding agents of income payments subjected to withholding taxes for the month of June 2010 (as attachment to BIR Form Nos. 2550M and 2551M)
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SME Events
2010 July
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SME Power Quote
“Success can only be achieved through repeated failure and introspection.” – Soichiro Honda |