IlluMyFi

PRESIDENT Ferdinand Marcos Jr. is eyeing "future tie-ups" with Chile on agriculture, specifically cacao cultivation and processing, Malacañang said on Saturday.The President expressed hope to strengthen the cooperation with Chile during his meeting with Chilean Foreign Minister Alberto van Klaveren in Malacañang on Friday."Because it's [cacao] becoming a very important crop. We are trying to promote it. And you have, I think, the best technologies when it comes to that product," the President said.Marcos said he also expected the visit of Klaveren to further strengthen ties and cooperation between the Philippines and Chile."I'll make certain that everything, the time that you spend here will be as productive as possible and would further the relations between our two countries. And that is, I think, the best way forward in this very interconnected world," the President said.Marcos also expressed gratitude to Chile for confirming its support for the Philippines' bid to the United Nations Security Council for the term 2027-2028 in exchange for the country's support for Chile's candidature to the same body for the term 2029-2030.Trade Secretary Ma. Cristina Roque, who was also present during the call, said that fish and minerals export from Mindanao was an area they were also looking at cooperating."[There are] skin beauty products and other things that we can [explore on] ... And also the agriculture sector and the seafood products that we can export to them," Roque said.She mentioned the deep sea port that was opened in Peru for the benefit of Asian products going to South America.For his part, the Chilean official said it was a great honor to be received in Malacañang, noting he had a very productive visit despite his short stay."We have had a very productive meeting with [Foreign Affairs] Secretary [Enrique] Manalo ... and we talked about our bilateral relations, about regional and global issues, and about the potential of our bilateral relations," Klaveren told the President.The Department of Foreign Affairs (DFA) earlier said Klaveren's visit underscores Chile's commitment to strengthening its relations with the Philippines, signaling potential growth in multiple sectors, particularly in trade and agriculture, as both countries explore new opportunities for collaboration.During a meeting with Manalo and Klaveren, the two sides held discussions on several key areas, including bilateral trade and investment, disaster risk reduction and management, maritime cooperation, tourism, and agriculture, the DFA said in a statement.The DFA said that a significant outcome of the talks was the launch of negotiations for a Philippine-Chile Comprehensive Economic Partnership Agreement.If successful, this would mark the first free trade agreement between the Philippines and a Latin American country. The agreement is expected to enhance trade and investment flows, particularly in agricultural products, and improve economic ties between the two nations.

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0.66

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18.12.24 04:17

by manilatimes.net

On BIR-issued subpoenas duces tecum

A SUBPOENA is a vital tool used in the administration of justice and tax enforcement in the Philippines. A subpoena ad testificandum requires an individual to appear and testify at a hearing or trial, or for an investigation, while a subpoena duces tecum (SDT) requires a person to bring with him or her any books, documents or other things under his or her control.The Commissioner of Internal Revenue (CIR) is authorized to issue an SDT to compel the production of essential documents pursuant to Section 5(c) of the National Internal Revenue Code of 1997 (Tax Code). This provision empowers the CIR to summon the person liable for tax or required to file a return, or any officer or employee of such person, or any person having possession, custody or care of the books of accounts and other accounting records containing entries relating to the business of the person liable for tax, or any other.The SDT is generally issued after a letter of authority and authorizes the Bureau of Internal Revenue (BIR) to examine a taxpayer's books and records, and after said taxpayer shall have failed to comply with requests for production of documents. Three notices to comply are usually given by the BIR before it issues an SDT. Refusal or neglect to comply with an SDT has significant legal consequences, including potential criminal charges, administrative penalties and an alternative method of tax assessment.Under Section 266 of the Tax Code, any person who, being duly summoned to appear to testify, or to appear and produce books of accounts, records, memoranda or other papers, or to furnish information as required under the pertinent provisions of the Code, neglects to appear or to produce such books of accounts, records, memoranda or other papers, or to furnish such information, shall, upon conviction, be punished by a fine of not less than P5,000 but not more than P10,000 and suffer imprisonment of not less than a year but not more than two. Section 266 is violated if the following elements are present: the offender is duly summoned by the BIR, the offender is required to produce books and records, or testify as per the summons, and the offender neglects to comply with the summons.In Lo v. People, the Court of Tax Appeals (CTA) en banc ruled that failure to comply with an SDT under Section 266 of the Tax Code constituted a mala prohibita offense. Mala prohibita offenses are criminalized because they are prohibited by law and intent or moral wrongdoing is immaterial in such cases. Criminal intent or moral culpability is not required for the commission of the offense; the mere act of failing to comply with a summons is sufficient to establish a violation.In Ang v. People, the CTA ruled that good faith was not a valid defense in mala prohibita offenses and the taxpayer's claim of good faith for failing to comply with the SDT was rejected. The court emphasized that the law punishes the act itself, not the motives or intentions behind it. Therefore, noncompliance with an SDT is punishable irrespective of the t...

Philippines