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SME in Focus
Back to Basics
If the new Education Secretary’s plan is adopted, a new generation will be spending more years in elementary and high school than their elders.
One section of the business community says the present 10–year basic curriculum lags behind global standards. While the proposed 12–year curriculum will supposedly provide young Filipinos with basic life skills and make them ready to join the workforce by age 18.
But Jesuit educator Bienvenido Nebres SJ of Ateneo de Manila University says government should go easy on the plan, noting that it could only lead to an increase in the semi-literacy that already plagues society.
We are no longer strangers to reports about public school teachers juggling several grade school levels in a single classroom, of children having to trek several kilometers to reach school, or bare community libraries and schoolbooks, where those exist, are peppered with mistakes. It doesn’t even help that the continuing “baby boom” is contributing to the strain each year.
It’s not the number of years one spends in school that’s the problem, said one elderly cab driver, himself a product of the public school system back in the 1940s. It’s the quality of education, full stop.
In a system plagued by overpopulation, high drop–out rates, shortages of books, lack of teachers and deteriorating facilities, we certainly agree. Public resources are best put to use finding solutions to those problems, if we expect to produce the kind of literate, critical–minded and entrepreneurial citizenry necessary to develop the country’s industrial and commercial base.
Special Report
Philippines chosen as regional hub for SME Knowledge and Finance
Asia–Pacific SME experts chose Manila to host the proposed Regional SME Knowledge and Finance Center, according to the recently concluded 3rd Regional SME Roundtable at Planters Development Bank. The Center, the first in Asia, hopes to accelerate economic growth and development, generate employment and reduce poverty by improving access to formal finance to Small and Medium Enterprises throughout Asia and the Pacific.
The SME Knowledge and Finance Center is being spearheaded by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), the Geneva-based International Trade Center, International Institute for Trade and Development (ITD) of Thailand and Plantersbank.
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member-at-large
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Tax Calendar
2010 August - September
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25 Wednesday
Monthly VAT
E-filing of monthly VAT declarations due on July 2010 transactions where such taxpayer’s fiscal quarter ends on 8.31.10 or 9.30.10 by EFPS filers
belonging to Group A* (BIR Form No. 2550M)
Quarterly VAT
Filing and remittance of tax due for the quarter ended 7.31.10 by all types of taxpayers, EFPS and non-EFPS filers (BIR Form 2550Q)
30 Monday
Quarterly Income Tax
Payment of income tax due for quarter ended 6.30.10 by corporationsand partnerships with taxable year ended 9.30.10; 12.31.10; 3.31.11 (BIR Form No. 1702Q)
SAWT
Filing of income taxpayer’s summary alphalist of withholding agents of income payments subjected to withholding taxes for the quarter ended 6.30.10 (as attachment to BIR Form No. 1702Q)
PEZA
Filing of annual report of actual operations by PEZA-registered enterprises
with taxable year ended 5.31.10
31 Tuesday
Manual Books of Accounts
Registration of manual books of accounts and other accounting records by taxpayers with taxable year that begins on 9.1.10
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6 Monday
Documentary Stamp Tax
E-payment or Payment of tax due on August 2010 transactions by all types of taxpayers, EFPS and non-EFPS filers (BIR Form No. 2000)
10 FRIDAY
Withholding Tax
Remittance of August 2010 taxes withheld (on compensation income, income payments subject expanded withholding tax and income payments subject to final withholding tax) by non-EFPS filers (BIR Form Nos.1601C, 1601E and 1601F)
10 Tuesday
Withholding Tax
Remittance of July 2010 taxes withheld (on compensation income, income payments subject expanded withholding tax and income payments subject to final withholding tax) by non-EFPS filers (BIR Form Nos. 1601C, 1601E and 1601F)
MAP
Filing of August 2010 monthly alphalist of payees for monthly remittance return (BIR Form Nos. 1601E and 1601F) by non-EFPS filers
Tax on Interests
Remittance of final tax withheld on interests paid on deposits and yield on deposit substitutes/trusts/etc. for August 2010 transactions by non-EFPS
filers (BIR Form No. 1602)
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SME Events
2010 August - September
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SME Power Quote
“The man who does not read good books has no advantage over the man who can’t read them. – Mark Twain
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