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00:00.0
Hi people of the Philippines and people of the world.
00:27.4
Hit the button below and you will be subscribing to the Boy Abunda Talk Channel on YouTube.
00:34.8
Let's keep talking.
00:36.8
Kaibigan, tuloy ang usap.
00:43.5
Magandang gabi po sa inyong lahat.
00:46.7
Welcome to The Interviewer.
00:48.3
Ginagawa ko natin ito taon-taon.
00:50.8
Mona Brea, The Taxways, and I do this conversation yearly.
00:57.0
Para makatulong sa ating mga kababayan, maunawaan ang ilang mga bagay na may kinalaman po sa buwis.
01:05.5
And right now, we're about to do this interview.
01:08.0
Kasama po natin si Ms. Mon Abrea.
01:11.2
Mon, maraming salamat muli sa iyong pagsama sa atin dito sa The Interviewer.
01:17.1
Diretso na tayo sa mga katanungan para wala na tayong paligoy-ligoy pa.
01:21.6
Kinuha namin ang matanong na ito sa iba't-ibang kaibigan na nais,
01:27.0
kinalaman ang mga kasagutan sa mga katanungan ito na may kinalaman sa buwis sa taxation
01:34.9
na sigurado akong masasagot ni Ms. Mon Abrea.
01:39.1
So punta na tayo dun sa unang question.
01:41.9
Mon, sabihin mo sa amin at ikwento mo sa amin yung recently concluded
01:46.9
2024 International Tax and Investment Conference
01:51.8
at saka yung mga key takeaways mula dito sa conference.
01:57.0
I should say it was a huge success and thank you to all our partners
02:02.2
kasi ito yata yung first time na we saw all our government leaders,
02:06.5
the regulators themselves, in one venue.
02:09.7
And more importantly, nandun yung ating mga foreign chambers na partners
02:13.4
and sila kasi yung katulong natin to spread the word
02:18.2
that Philippines is their investment destination
02:21.1
and how's the experience doing business in the Philippines.
02:23.9
Ito yung mga key takeaways.
02:23.9
Importante kasi ito boy na alam,
02:27.0
mayroon nagsasabi o nagpapatunay na maayos, masagaan na
02:32.1
at kumikita ang negosyo sa Pilipinas na nababawasan na ang korupsyon,
02:36.6
ang birokrasya at hindi biro ito kasi sa lahat ng bansa naman issue yan.
02:40.8
Huwag tayong masyadong idramatize yan.
02:42.7
Hindi ito isolated sa Philippines.
02:44.5
So para sa akin yung conference naging pagkakataon
02:47.2
para mapag-usapan yung mga mahalaga para sa ating mga investors,
02:51.3
lalo na yung foreign investors.
02:53.9
But at the same time, narinig natin yung mga plano
02:57.0
mga prioridad ng ating government leaders
03:00.9
particularly yung mga regulators na pinupuntahan o kinakausap
03:04.9
o kailangan ng mga negosyante kapag nag-invest sila sa Philippines.
03:08.4
So moving forward, may nabuong partnership
03:10.9
nagkaisa ang lahat that we will make it happen in the Philippines.
03:14.6
Sana, bas patuloy natin makita yung mga pagbabago
03:18.1
kasi hindi lang naman para sa mga foreign companies yan.
03:21.0
Siyempre pati yung mga domestic, yung mga Pilipino makikinabang din
03:24.3
pag wala ng red tape, pagka na-address na yung birokrasya,
03:27.0
at talagang nagkaroon ng mas mabilis na proseso
03:30.5
or sinasabi nga natin automated para instant na lahat
03:34.2
hindi na mag-aantay ang ating mga kababayan.
03:38.4
Here's another question.
03:40.6
Why did you decide to involve international organizations
03:44.1
like the World Bank, OECD, IMF,
03:48.0
and the International Tax and Investment Center
03:51.0
based in Washington, D.C.?
03:55.4
Minsan kasi mahirap.
03:56.8
Magbahagi ng pangarap.
03:58.5
It's hard to share a dream if people don't share it.
04:01.5
So, mas madali kapag meron ng success story.
04:05.6
Mas madali kapag meron mga international experts
04:09.5
or ibang tao na magsasabing that works.
04:12.4
So, sa akin, after Harvard, ang narealize ko,
04:15.2
ang daming common problems na iba't ibang bansa,
04:17.7
masyado lang talaga natin dinadramatize yung problema sa Pilipinas.
04:20.7
Whether it's corruption, bureaucracy, cause of doing business,
04:26.8
election, politics, hindi naman sa peculiar sa Philippines.
04:31.9
Pero, ang nakita ko, may mga best practices din.
04:35.1
So, I guess, working with the international organizations
04:37.4
will give more value or we can leverage on it
04:41.9
para mas makuha natin yung attention at supporta ng mga senador,
04:46.4
ng ating mga policy makers,
04:48.2
and hopefully, mas ma-implement siya
04:50.7
para yung sinasabi nga natin, pangarap for a better Philippines, matupad.
04:55.2
Ako personally, naniniwala ako.
04:56.8
Ako, hindi na third world country ang Pilipinas,
04:59.6
pero third world country tayo mag-isip, kahit yung mga pinuno natin.
05:03.4
And kung ito mababago, mula sa mga kabataan, estudyante,
05:07.1
manggagawa, botante, at syempre sana,
05:10.6
yung ating mga pinuno sa gobyerno, lalo na yung mga gumagawa ng batas,
05:15.1
baka, baka nga talaga magiging first world na,
05:18.2
or kung hindi man, at least hindi na talaga masyadong third world
05:21.5
or middle income class na ang ating mga mamayan.
05:26.8
Plus, dumating sana yung pagkakataon na dahil nagbe-benchmark na tayo,
05:31.7
dahil nagko-collaborate na tayo sa international organizations,
05:34.8
makita din natin na may galing tayo, hindi tayo naiiwan.
05:37.9
Again, one of the things I've realized when I studied in Harvard is,
05:43.4
we're actually one of the best.
05:45.4
I mean, not personally, but I honestly think na ang dami natin mababahagi sa mundo.
05:50.3
Hindi lang tayo yung magbe-benchmark, may matututunan din sila sa Pilipinas at sa mga Pilipino.
05:55.0
How about the foreign chambers?
05:59.2
Why engage with them?
06:02.3
Eh, nandito na sila sa Pilipinas.
06:05.3
Bakit pa kinakailangan i-engage mo sila?
06:08.8
Una, mas pinakikinggan sila ngayon.
06:11.4
Kasi dahil nga ang prioridad ng Pangulo is i-increase talaga yung foreign direct investments.
06:16.6
Sa tingin ko, yung mga foreign chambers kasi yung mas pinakikinggan ng mga foreign companies
06:21.9
or yung mga kumpanya mula sa bansa na nila,
06:24.0
sila yung unang kinakausap bago tayo mga Pilipino or yung Philippine government.
06:29.0
Pangalawa, mas may boses din sila pagdating sa mga policies dahil sila'y nililigawan eh.
06:35.2
So, if we work with the foreign chambers at ma-share din natin yung mga ideas natin
06:39.2
at nakita nila, oh nga no, mas maganda nga yan, ah okay yan.
06:42.6
So, I think yung collaboration na yan, mas mapapabilis yung mga pagbabago
06:47.3
o yung pag-adapt nito mga proposals natin.
06:50.2
So, working with the foreign chambers is also good for them.
06:54.0
right now, medyo theoretical pa yung rolling out the red carpet eh.
06:58.3
Pero, if the foreign chambers will ascertain or will confirm na talagang may mga changes
07:03.7
and these positive changes are all improving ease of doing business in the Philippines,
07:08.6
sa tingin ko, lahat tayo makikinabang.
07:11.7
Here's the fourth question.
07:13.5
Ito, actually, katanungan ng isang kaibigan ko.
07:17.8
Mr. Abrea, nakita ako that you also launched a book during the conference.
07:24.0
At ang pamagatang libong ito ay,
07:26.7
Why Invest in the Philippines?
07:30.0
That's your new book.
07:31.5
Can you give us an overview and explain how it differs from other books about investing?
07:42.3
Well, madalas na napapublish is yung ease of doing business,
07:46.7
which is, ine-echo niya kung ano yung nasa batas natin na ease of doing business.
07:50.6
Pero, parang, andaming agam-agam ng mga,
07:54.0
foreigners, there are many doubts or inhibitions.
07:57.6
Why foreign investors will go to Vietnam, Thailand, or other countries instead of the Philippines?
08:02.9
Or, why they will allocate only a few dollars or a percentage of their investments in the Philippines?
08:10.5
Sa tingin ko, we need to answer why they should invest in the Philippines
08:13.9
rather than just keep talking about our law.
08:16.7
So, why invest in the Philippines is divided into four chapters.
08:19.5
The first one is really making it clear,
08:22.7
solidifying all the,
08:25.0
Not from our Philippine government alone,
08:27.4
pero galing mismo sa World Bank,
08:29.9
or as I've been mentioning,
08:32.4
in collaboration with the international organizations and foreign chambers.
08:37.0
So, it's sort of like a tourism book nga eh,
08:38.9
because we practically feature not just the best,
08:42.0
but also the futuristic and the beautiful sights in the Philippines.
08:47.3
Kasi, without us realizing,
08:49.1
tourism is actually a huge industry as well.
08:51.8
And marami sa ating mga foreigners,
08:53.9
kaya nila naisip magnegosyo or even mag-asawa dito sa Pilipinas
08:58.8
dahil sa Boracay, sa Palawan.
09:00.9
And I think, we should not be ashamed of that.
09:03.0
That's the gateway.
09:04.1
Kung tayo ay nakilala dahil dito sa mga beautiful beaches na to,
09:08.2
the next thing is, malaman nila kung gaano kagaling, kabait, kaganda mga Pilipino,
09:13.5
then, maganda rin magnegosyo sa Pilipinas.
09:16.4
So, I think it's a good gateway.
09:18.5
And pangalawa is, we talk about definitely the ease of doing business,
09:22.7
pero, hindi na yung business.
09:23.9
Ano na yung batas? Ano na yung nangyari?
09:25.5
What are the e-government services or how are the different regulators or government agencies
09:30.4
implementing this ease of doing business?
09:32.9
And how can we actually use it?
09:35.4
Kasi, yung libro, interactive siya.
09:37.1
There are several QR codes where you can already apply
09:39.6
or process your registration or your tax identification number
09:43.5
because it will direct you to the official government websites
09:48.0
by just browsing the book.
09:49.9
So, ganun siya ka-interactive.
09:51.2
Then, yung pangatlo, very important, siyempre,
09:53.9
is ano yung mga buwis na babayaran, pero may incentives.
09:59.6
So, we talk about tax incentives as a flagship program or offer of the Philippines,
10:05.4
especially to our foreign investors, na it's very competitive.
10:10.0
And yung pangapat, importante siya kasi tulad na sinabi ko,
10:13.0
meron ng international collaboration or cooperation.
10:16.9
We are already a signatory ng OECD inclusive agreement.
10:19.8
So, ibig sabihin, may mga changes na mangyayari
10:21.9
and we want to show the world that we are adaptable.
10:23.9
We are adapting, that there are still several tax reform proposals in the pipeline
10:29.3
and these are all good.
10:30.6
This will all help improve doing business in the Philippines
10:33.7
and hopefully cut the cost of doing business in the Philippines.
10:37.5
So, the book will serve as guide to every foreign investor
10:41.1
and anyone who would consider doing business in the Philippines.
10:44.6
And if they still have doubts, hopefully after browsing the pages of the book,
10:48.8
mawala yung doubts nila.
10:49.9
Kasi nga, Why Invest in the Philippines is a guide
10:52.7
in investing in the Philippines.
10:53.8
It's not just selling Philippines,
10:57.1
but it's helping you invest and do business in the Philippines.
11:00.7
So, hopefully you can grab a copy.
11:06.2
after visiting more than 50 states, countries, and regions,
11:12.6
you just started the next 15 countries
11:16.0
with the East Asia Cluster this year's roadshow.
11:23.6
Anong mga bansa ang included in your 2024 International Tax and Investment Roadshow?
11:31.6
Una, sa dami ng bansa na napuntahan ko and states sa US,
11:37.0
mas personally and honestly, mas minahal ko yung Pilipinas.
11:41.6
I love the Philippines even more.
11:45.2
At siguro isa ako dun sa mas na-enjoy makita yung ibang bansa
11:52.2
kasi alam ko yung babalik.
11:53.6
Ang kumbansa, mas gusto ko.
11:55.1
Mas dun ko gustong tumira.
11:57.0
Mas dun ko gusto na magkapamilya, mag-retire.
12:00.9
Kasi alam ko, maganda siya talaga.
12:03.5
And sa akin lang, ang sinasabi lang nung roadshow is
12:09.0
we need to spread this.
12:10.7
We need to share this to everyone.
12:12.7
And through our International Tax and Investment Roadshow,
12:15.7
we want every citizen in the world to know the Philippines.
12:19.9
Not just as their investment destination,
12:21.6
but a happy place.
12:23.6
A place to find peace, to find love,
12:27.4
to find an investment opportunity.
12:31.7
And dun sa roadshow this year,
12:34.5
it's really to support the government promoting the Philippines
12:37.1
as an investment destination.
12:38.7
So we started already sa East Asia.
12:41.1
We went to Singapore, Malaysia, Japan,
12:45.3
and we're leaving for Korea.
12:48.1
Then afterwards, in April, we'll go to US.
12:52.1
So New York, San Francisco,
12:53.6
Los Angeles, and of course, Washington, D.C.
12:56.6
Then of course, Europe.
12:58.1
So Europe, we'll start sa Madrid, Spain,
13:01.7
sa Berlin, Germany.
13:04.5
Then we'll also go to Amsterdam, Netherlands.
13:09.3
Then Paris, France,
13:11.9
Bern, and Geneva, Switzerland.
13:14.7
At sa dami niya, iniisip ko kung may nagkulang.
13:16.8
And of course, London, United Kingdom.
13:19.0
Importante din sa mag-aaral ako dun.
13:20.9
So mag-stay din ako dun for a while.
13:23.2
we'll go back to the Philippines for a while
13:25.5
for a series of meetings.
13:26.8
Then we go to Australia, Canada,
13:28.7
and finally, Middle East.
13:29.9
So ano ang objective natin?
13:31.2
Simple lamang po.
13:32.4
Of course, it's to support the government
13:34.8
in promoting the Philippines
13:35.9
as your smart investment destination.
13:38.3
But more importantly,
13:39.7
tulad nung sinabi ng libro,
13:41.2
why invest in the Philippines?
13:42.5
We want to guide them.
13:44.0
We want to make sure na we don't just market the Philippines.
13:47.1
But we assist every foreign investor,
13:49.6
anybody who's interested to do business in the Philippines.
13:52.0
Or more importantly,
13:53.2
yung mga nagninegosyo na pero nagkakaproblema
13:55.9
or parang gusto nang umalis.
13:59.3
We want to reassure them that things will be better.
14:03.0
And this is not just a promise.
14:04.8
Kasi pagbalik ko after ng Singapore, Malaysia, and Japan,
14:07.9
I went straight to the Senate.
14:09.3
I reported to the Senate Ways and Means
14:11.2
through Senator Wingachal Yan.
14:13.1
Then pinuntahan ko din ng DOF.
14:15.1
I met with Yusef Carlo.
14:17.1
Not to brag about the roadshow,
14:19.5
but to tell them the insights,
14:20.6
the feedback that we got from our foreign companies.
14:24.0
So, ang ganda nung collaboration.
14:25.6
Kasi ako din ang dahil ko natutunan.
14:27.3
And at the same time, na-realize ko,
14:29.4
I really love the country.
14:31.8
Kasi I can really talk about with so much honesty.
14:34.3
But at the same time, without sugarcoating the problem,
14:36.8
when they talk about VAT refund,
14:38.3
sabi ko, exactly what's the problem with VAT refund?
14:41.1
Okay, what are you expecting?
14:43.0
Then, I reported it back to the Senate,
14:46.4
And we talk about possible resolution.
14:50.4
Hindi siya yung parang namasyal ka lang.
14:54.7
nambudol ka lang,
14:55.5
tapos bahala sa ilo sa buhay nila.
14:57.8
the roadshow really is a manifestation of our commitment
15:01.9
to promote the Philippines as an investment destination.
15:04.1
But, more importantly,
15:05.6
it's very much aligned with our advocacy,
15:08.1
which is to promote tax reform.
15:10.1
A simple, fair, and efficient tax system na
15:13.2
ang nagbabayad yung mas malaki ang kita.
15:15.3
Yung mga iyayaman at mas malaki ang kita,
15:17.1
sila'y dapat yung mas malaki ang bayaran.
15:19.0
At yung pinangakuan natin ng incentive,
15:21.3
wag naman nating takbuhan,
15:23.1
talagang ibigay natin.
15:24.2
So, for me, there's still hope.
15:26.8
Ang mahalagay is mas maraming nag-open na opportunity.
15:29.2
So, this roadshow is a way to tell the world
15:32.4
how beautiful and how much promising
15:35.4
the Philippines is as an investment destination.
15:38.2
Ano ba mon ang goal,
15:40.7
ng mga roadshows na ito?
15:44.0
Paano naman tinanggap ito ng Singaporeans,
15:50.6
I mean, itong mga,
15:51.9
itong roadshow na ito.
15:53.2
Honestly, they were very happy, number one,
15:55.5
because most of them either met the president
15:58.5
or they learned that our president went to their country.
16:02.9
It made actually a very huge impact.
16:05.7
I never realized that
16:06.8
because like other critics,
16:08.2
we're just thinking,
16:09.6
oh, it's just going around.
16:10.8
But it was making an impact.
16:12.7
Then at the same time,
16:13.6
as I have mentioned in one of my statements,
16:16.2
it's unfair to just say that
16:18.2
it's a waste of money.
16:20.1
Maybe we can look at the budget.
16:21.9
that's part of making our government accountable.
16:25.2
But to literally dismiss the impact
16:29.1
or the value of it,
16:30.5
because the embassy,
16:31.5
the Philippine Trade and Investment Center,
16:34.5
the Labor Attaché,
16:35.2
they are all working hard
16:36.5
in every presidential visit
16:38.1
and in every trade mission.
16:39.7
So para ang sa akin,
16:41.1
it's important that we just do our part and support it.
16:43.7
And through our roadshow,
16:45.1
I realize how much impact
16:47.2
it has created already,
16:48.7
at least in the first three countries,
16:50.6
Singapore, Malaysia,
16:52.6
They really value so much
16:54.3
that the president went to their country.
16:56.8
And let's not forget,
16:58.5
in the next month,
17:00.1
the president will go back to the US
17:01.6
to have a trilateral meeting.
17:03.4
Japan, US, and Philippines.
17:05.4
So imagine all these things.
17:06.7
Not just economic,
17:08.7
So I think it's also important
17:10.7
that we make all the countries
17:12.9
or the world know
17:13.9
that the Philippines will not bow down
17:16.0
or will not give up our democracy,
17:18.3
And anything that is Philippines,
17:21.5
should be enjoyed by Filipinos.
17:23.1
And those who want to invest in our country,
17:25.2
they should follow our laws
17:26.2
so that they will also benefit
17:27.7
from whatever it offers.
17:30.5
What are the usual concerns
17:32.4
of foreign investors?
17:35.8
pag nagro-roadshow, Mon,
17:37.8
ano yung mga tanong,
17:39.4
ano yung mga agam-agam
17:40.7
ng mga foreign investors?
17:45.6
And all this battery fund,
17:48.3
battery fund is first.
17:49.9
Kasi like in Japan,
17:54.8
or the Japanese companies
17:56.9
is actually the number one locators.
18:01.0
ng mga investments
18:01.9
or companies na nasa eco-zones
18:03.9
are actually Japanese.
18:05.6
So different industries.
18:08.6
So sila yung may mga battery fund
18:10.6
kasi nga kasama yun sa in-offer natin
18:13.1
na fiscal incentives.
18:14.8
And yet, medyo matagal
18:17.2
o hindi na-approve.
18:19.8
And that's something that we're now discussing.
18:22.5
and Ways and Means
18:23.7
and the Department of Finance.
18:25.9
Hindi naman siya hopeless.
18:27.1
Ang maganda lang dun is,
18:31.2
Para na siyang ano,
18:32.3
ang mga marites kumakalat na.
18:33.8
So it's important that our government
18:35.2
takes this seriously.
18:37.1
And that the President
18:38.0
will have to dip his hand already
18:40.4
and do something about it.
18:41.8
Nasaan ang red carpet
18:42.6
kung yung battery fund di marilis?
18:45.0
it's important that we make sure
18:47.5
they are qualified.
18:48.6
But let's not make them wait forever.
18:50.3
Especially if it takes years.
18:51.5
I think that's so much costly.
18:54.0
It becomes too costly
18:55.2
for foreign investors to bear that.
18:57.7
So battery fund is one.
18:59.3
Number two, siyempre,
19:00.3
they're still very cautious
19:02.5
of the BIR audit.
19:04.3
I think we really need to automate it.
19:07.8
or let's stop all this random,
19:09.9
unnecessary, huge assessment
19:11.5
na in the end naman nine-negotiate
19:13.7
o wala naman nakakolekta.
19:14.9
So let's not give that impression
19:17.1
to our foreign companies or investors
19:18.9
na we are not honest.
19:20.6
Because they know,
19:21.5
Filipinas are honest.
19:22.6
So the last one is corruption.
19:24.2
I think most of them
19:28.3
because they either learn about
19:30.6
the book that we published previously,
19:32.8
Reimagining the World Without Corruption.
19:34.6
And that was also launched
19:35.6
at the Harvard Kennedy School.
19:37.6
So it gives so much credibility to us
19:39.9
promoting the Philippines
19:41.0
that we are not sugarcoating it.
19:42.7
We want to address corruption.
19:44.7
We will not tolerate corruption.
19:46.4
But at the same time,
19:47.2
we don't want businesses
19:48.1
to cheat or evade taxes.
19:49.7
We want to guide them
19:50.7
so that they can get out of it.
19:51.4
So that they can also
19:52.0
comply and pay the right taxes.
19:56.1
these issues are very important
19:57.6
for the foreign investors.
20:00.2
it's not much of the taxes.
20:01.8
It's really more of the issue
20:03.0
of doing business.
20:05.7
halos lang pare-pares na yan,
20:07.0
especially with the incentives.
20:08.5
So at the end of the day,
20:09.8
sino yung pinaka-mabilis,
20:10.7
kanino yung pinaka-efficient,
20:11.8
kanino yung pinaka-matipid
20:15.1
That's why they're going
20:18.2
that's a wake-up call
20:19.3
for the Philippines.
20:20.0
Because our neighboring countries,
20:22.5
are offering better.
20:24.2
So we need to further improve.
20:26.9
This is our eighth question.
20:29.1
How do you assess
20:31.8
of our tax system?
20:35.7
there were so many improvements,
20:37.5
especially in the last
20:38.3
two administrations.
20:40.5
last administration
20:42.0
under Commissioner Dulay
20:43.1
because they initiated
20:44.3
so much digital transformation.
20:46.5
Ang feeling ko lang,
20:47.6
the strategy is good,
20:49.0
but there was no budget.
20:50.5
And there's still
20:51.4
And when I say budget,
20:54.6
I feel like the Congress
20:57.0
or expects so much
20:57.8
or we expect so much
20:59.9
But they have less than what?
21:01.1
10 billion budget
21:06.2
5 trillion revenue.
21:08.8
we need to really
21:10.8
And I'm more hopeful now
21:12.9
ease of paying taxes
21:14.1
na minundate na yung
21:15.2
digitalization roadmap.
21:18.4
mabigyan talaga ng malaking budget.
21:19.9
Makapag-hire talaga sila
21:23.4
who will really lead
21:25.4
the digitalization
21:26.7
na hindi siya project
21:28.3
under the previous
21:29.3
under the Aquino administration,
21:31.4
there was automation.
21:33.5
Tapos, parang nag-recept.
21:34.9
Under the Duterte administration,
21:37.0
Commissioner Dulay started
21:42.4
digitalization projects.
21:45.4
under Commissioner Lumagi,
21:47.2
with the current administration,
21:49.6
parang may bago na naman
21:54.4
ma-integrate yung system,
21:56.2
that every taxpayer
21:57.1
can access their tax information
21:59.0
even through their mobile phones.
22:00.9
So, ganun dapat yung
22:02.2
plano yung vision doon.
22:05.5
And it requires so much budget.
22:08.4
marami nag-improve.
22:10.9
I think the annual tax return lang,
22:12.6
almost 100% online na
22:15.9
And with the ease of paying taxes,
22:17.2
ang daming improvements.
22:18.4
But I still believe
22:25.1
pondo at plano talaga.
22:30.6
hindi naman nagagamit
22:33.0
And hiring the right people pa rin.
22:35.1
We don't need so much examiners.
22:38.0
that will allow the government
22:40.3
to collect higher taxes,
22:42.6
especially from those
22:43.8
who are earning more.
22:45.8
the small taxpayers
22:47.8
from unnecessary stress,
22:51.4
Yung mga penalty-penalty na yan,
22:53.1
mali yung tinatakot natin.
22:54.4
Dapat yung mga tax evaders,
22:56.0
hindi nga tinatakot ng penalty,
22:58.6
So, kung tatanungin nyo ako,
23:00.5
hanggat walang nakukulong,
23:02.3
hindi effective yung tax system.
23:04.7
mapagbayad mo lahat,
23:06.0
at yung talagang pasaway,
23:08.1
Eh, iba nakatakbo pa,
23:12.9
with your recent travels
23:14.2
to different countries,
23:15.7
including Singapore,
23:19.6
are you doing a world tour
23:20.7
to promote your business?
23:21.2
To promote your book?
23:23.0
And where can people get a copy
23:27.1
Madalas akong tanungin yan, Mon.
23:30.0
naalala ko lang na
23:31.0
with the tax reform,
23:34.1
under the previous administration,
23:35.9
there was a comprehensive tax reform program.
23:38.0
So, it's still continuing.
23:39.1
Merong mga pending pa,
23:41.2
especially doon sa
23:44.2
real estate valuation,
23:46.4
then yung digital taxation.
23:49.5
meron pa rin kami yung proposal.
23:51.2
hope that the government
23:53.0
will consider yung
23:54.0
pre-populated tax return
23:55.7
so that all individual taxpayers
23:57.3
will just get their
23:58.9
monthly or quarterly
23:59.9
or annual tax billing.
24:01.8
And we either pay
24:03.3
provide more documents
24:07.3
para lesser yung taxes
24:08.4
na babayaran natin.
24:09.6
But it requires so much
24:12.3
system to capture the information
24:14.2
regarding income of every individual.
24:17.1
yung audit talagang dapat gawing risk-based.
24:19.4
Stop the random, useless,
24:23.4
na nagdadaragan tayo.
24:25.2
It's important that
24:27.8
or every business
24:29.7
in the Philippines
24:31.7
that they need to pay
24:33.6
and if they don't,
24:34.7
they'll go to jail.
24:36.6
Hindi yung parang
24:37.7
kung sino yung malakas
24:42.0
or sino yung mas malaki
24:44.0
sila pa hindi nagbabayad
24:47.7
may mga proposals pa rin tayo
24:49.2
na makonsider yung
24:54.6
para sa mga micro
24:55.7
and small taxpayers
25:00.2
will do so much good
25:03.3
I feel like yung threshold
25:04.6
masyadong mababa.
25:07.0
hanggang 100 million.
25:10.8
earning at least 1 million
25:13.9
na wala mo ng tax.
25:15.6
Then, we should allow
25:18.3
na hindi muna sila
25:19.5
nababurden ng tax.
25:20.4
Well, those who are
25:22.3
make them pay huge taxes.
25:23.5
Sila na lang yung
25:23.9
collectahan natin
25:25.8
And if we will be
25:30.4
wala nang tax yung mga empleyado.
25:32.5
the employees will never
25:35.0
as the rich tycoons
25:37.6
or business people
25:39.0
because they have
25:41.6
So, they should not
25:43.1
Those who should have
25:45.5
in funding our government
25:47.0
are those who are
25:47.7
earning a lot, lot more.
25:49.3
Not the fixed income
25:51.8
or regular employees.
25:54.1
And the tax evaders.
25:55.9
Kung di sila magbabayad,
25:56.8
kulong talaga natin sila.
25:58.0
Kahit yung mga nasa
25:59.9
ikulong natin sila
26:00.7
kung di sila nagbabayad.
26:02.5
going back dun sa book,
26:04.7
it's not really a world tour,
26:06.4
but it's part of the roadshow.
26:08.8
And we're promoting the book
26:10.7
this is really an easy
26:11.9
reference or guide
26:12.9
for all our foreign investors.
26:15.5
And it's available
26:16.0
in the Philippines,
26:20.3
It will be available
26:23.2
So, and of course,
26:24.9
we give complimentary copies
26:27.6
registered participants
26:28.7
or foreign investors
26:30.0
who are interested
26:32.1
in the Philippines.
26:34.1
they can also ask copies
26:35.3
from the Philippines
26:36.3
Trade and Investment Center
26:37.5
kasi nga we're sending
26:38.7
them complimentary copies.
26:40.2
And we'll come up with
26:43.8
so that it will be easier
26:47.6
kasi very useful siya.
26:50.3
to put it together
26:50.9
kasi ang daming bata
26:52.7
tas ang daming updates
26:53.7
na parang pagising mo bukas,
26:55.7
outdated na yung alam mo kahapon,
26:57.3
ganun yung level.
26:58.2
So, to put it together
27:00.1
so much hard work
27:01.7
and a lot of people
27:03.3
work hard for it.
27:05.2
But at the same time,
27:06.4
the concept alone,
27:09.5
na hindi sila mawindang,
27:11.3
hindi sila maligaw.
27:16.4
through our book,
27:17.1
Why Invest in the Philippines,
27:21.2
in the Philippines
27:21.8
after browsing it.
27:27.4
With the upcoming
27:29.0
tax filing season
27:34.4
key considerations
27:36.7
at kahit yung mga
27:39.7
should keep in mind
27:45.8
we have to take time now
27:48.8
because, of course,
27:51.6
doing our business,
27:53.0
making a lot of money,
27:55.5
cutting our budget,
28:01.5
at the beginning of the year,
28:03.2
we have to take a
28:06.0
and paghandaan natin
28:09.4
kung ano yung malalagay
28:10.7
sa annual income tax return natin.
28:13.5
pwede ka talagang
28:15.2
kapag na-under-declare
28:17.3
o hindi mo lahat na-declare,
28:18.6
hindi mo nabayaran
28:19.2
yung tamang buhay.
28:20.8
more importantly,
28:22.6
make sure na ma-review talaga
28:25.0
na na-comply mo lahat
28:28.0
may mga attachments.
28:30.2
pero hindi naman kasi
28:30.9
isang tao na yung dapat gumagawa.
28:33.4
the annual tax review
28:35.3
that should have been supported
28:38.6
by yung monthly compliances there.
28:41.7
kung hindi nagawa,
28:42.5
at least bago mo permahan
28:43.9
yung annual income tax return,
28:46.7
kung ano yung dinedeclare mo
28:48.5
kung tama yung binabayaran mo.
28:49.9
And paghandaan mo din yung audit.
28:51.8
Not because i-audit ka,
28:53.2
but I think it's part of the due diligence
28:54.9
and being a responsible taxpayer
28:56.9
na all the supporting documents are there.
29:00.3
Iwasan natin yung manghula,
29:02.2
or mag-underdeclare
29:03.1
kasi yung repercussion niya,
29:04.7
hindi lang penalties,
29:05.9
nagkakaroon tayo ng image sa BIR
29:07.5
na tax evader tayo
29:09.0
o mandaraya tayo.
29:10.3
And kapag naglagay tayo,
29:11.9
malalagay tayo sa favorite list
29:13.7
ng mga gusto kong i-audit.
29:15.7
Kasi dahil naglalagay ka,
29:17.1
ibabalik-balikan ka
29:18.0
para makakuha sila
29:19.9
So, let's consider this
29:23.3
as our major contribution
29:24.9
to nation building.
29:26.1
It sounds like a cliche,
29:27.6
pero ito yung ambag natin
29:30.2
para maging masagana
29:32.6
o mangunlad ang Pilipinas.
29:34.5
Sana yung mas malaki
29:36.6
talagang kahit medyo masakit,
29:38.7
sila yung mas malaki yung bayaran.
29:41.2
yung mga walang babayaran,
29:42.4
mag-file pa rin sila
29:43.2
kasi baka makalimutan na naman nila,
29:45.0
ma-penalize pa sila,
29:46.0
wala na nga silang babayaran.
29:49.1
learn the options
29:51.5
kasi pwede namang manual,
29:55.0
Everything is online na naman eh.
29:56.7
So, find out which is
29:57.5
the most convenient for you.
29:59.2
Then, alamin talaga mabuti
30:00.7
ano yung mga requirements
30:01.6
o ano yung dapat madeklara.
30:05.3
ang mahalaga dito is
30:07.4
once na nakapagbayad tayo,
30:10.1
maramdaman natin na
30:11.6
this is part of being Filipino.
30:14.3
Kasi mahirap yung nagbayad
30:15.3
kasi humalang ang loob mo.
30:16.4
So, sana ang April 15 is parang
30:18.8
special Valentine's Day
30:20.7
para sa pagiging Pilipino.
30:22.4
Mapakita natin yung
30:23.4
pagmamahal natin sa bayan.
30:25.5
At iwasan natin man daya
30:27.4
pagka naloko ka sa malit na bagay,
30:30.3
ang karma baka maloko ka
30:31.6
sa mas malaking bagay,
30:32.6
sa mas seryosong bagay.
30:34.4
Whether sa pag-ibig,
30:38.7
So, iwasan natin na maloko
30:40.8
para hindi rin tayo maloko.
30:42.1
At ayaw natin na niloloko tayo,
30:44.1
So, let's try to be as much
30:45.8
as honest as we can,
30:47.2
pay the right taxes,
30:48.8
huwag natin habulin yung deadline.
30:50.7
So, as early as now,
30:52.1
you can already file.
30:53.9
you can use TaxWizPH.
30:55.3
So, yung mobile app namin,
30:57.3
Just download it.
30:58.3
If you have questions,
31:00.0
And you can check,
31:01.2
if you're an individual taxpayer,
31:02.6
you can also use it
31:03.6
para i-file mo yung
31:04.6
annual income tax return mo.
31:09.5
Mon, maraming salamat.
31:12.6
At sa lahat ng paliwanag,
31:15.2
sa lahat ng iyong
31:16.1
ginagawa para sa bayan,
31:17.6
ginagawa para sa kapwa,
31:19.4
mas pinapadali mo
31:20.4
yung pag-unawa namin
31:24.8
for your lectures,
31:25.7
for your roadshow.
31:27.2
Maraming maraming salamat
31:28.1
for making this world
31:31.4
So, mula sa aking puso,
31:33.0
thank you for joining me
31:34.3
here on The Interviewer.
31:36.9
And God bless you.
31:43.5
Thank you, Dendy Toboy.
31:44.6
And importahan nyo yung aming roadshow.
31:46.2
And if you have questions on taxes,
31:48.8
just consult ACG.
31:50.2
So, visit our website,
31:54.0
social media accounts,
31:55.8
download TaxWiz PH.
31:57.8
T-A-X-W-H-I-Z-E-P-H.
32:01.6
Kasi kapampangan ako, eh.
32:04.2
So, si TaxWiz is a mobile app.
32:06.1
You can download it for free.
32:07.7
Use the features to help you
32:10.3
And para sa ating mga foreign investors,
32:12.3
anybody who would like to invest
32:13.4
in the Philippines,
32:14.4
may invest in the Philippines,
32:15.4
anything that you need to know,
32:17.0
this is a guide in investing
32:18.2
and doing business in the Philippines.
32:20.0
To all our kababayans
32:21.0
and to all our foreign investors
32:22.5
in the US, Europe, Australia, Canada,
32:26.4
and the Middle East,
32:29.1
But, anyong sayo,
32:33.4
Hi, people of the Philippines
32:35.1
and people of the world.
32:37.3
Hit the button below
32:38.6
and you will be subscribing
32:40.7
to the Boy Abunda Talk channel
32:43.6
Let's keep talking.
