ABS CBN What are the Issues at Hand - Why are they worthy of the License? or Why Not?

ABS CBN was ordered by the NTC National Telecommunication Commission to ceased and desist operation of broadcasting by virtue of an expired license. 

ABC CBN was originally given the license last March 30, 1995 to expire 25 years after or 2020. 

Workers Welfare: 

ABS CBN has been expressing concerns over an 11,000 workers that will be out of jobs. 

There were celebrities who expressed their opinions and appeal to the government. Among them were Coco Martin and Kim Chiu that instantly goes viral over the social media. Other showbiz personalities have also expressed their opinions.

They mainly pointed out the workers who will be out of jobs and their untimely demise in the middle of a world pandemic. On the other hand, other defended the government  

There were also other side support by some celebrities and personalities like Jobert Sucaldito who disputed Kim Chiu, Coco Martin, and turned statements against workers being made as shield of reasons for ABS CBNs cease and desist order.   

. 

Attack on Press Freedom:

Other critics lamented the actions were an attack on Press Freedom.  FilAm activist and UP College of MassComm aired their side that ABS shutdown was an attack on Press Freedom.

Supporters of the decision of NTC rejects this idea saying a mere closure by one network, even if its the largest does not mean attacking the press freedom when all other press who legally comply government basic franchise license requirement. Other networks still operating were GMA, TV5, PTV4, CNN Philippines, and SMNI. Rappler.com a known critic of the government still operates freely and report whatever they seemed proper for the public to know. Rappler CEO Maria Ressa's answer on one interview was criticize on the number of employees of ABS CBN, the edited video can be viewed on this link. Netizens were still hoping the report on the international media was also edited and properly communicated. Other radio networks also remained operations whilst they comply government requirement.

Tax Issues.

BIR head of large taxpayers division tells the Senate panel that ABS CBN regularly pay tax. This means that tax issues hammered against ABS CBN were cleared by the BIR. A sigh of relief to the ABS company. 

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Learn How to Compute Dividend and Patronage Refund

Good day cooperators!

If you are interested to learn how to compute dividend or interest on share capital and patronage refund. I have prepared a very brief course not really a very long course but a very comprehensible one that you can easily understand and I have also prepared an excel template that you can download and use.

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Articles of Cooperation and Bylaws (Sample copy for download)

Articles of Cooperation and Bylaws

RA 9520 Philippine Cooperative Code

Republic of the Philippines
Congress of the Philippines
Metro Manila

Fourteenth Congress
Second Regular Session

Begun and held in Metro Manila, on Monday, the twenty-eighth day of July, two thousand eight.

Republic Act No. 9520             February 17, 2009

AN ACT AMENDING THE COOPERATIVE CODE OF THE PHILIPPINES TO BE KNOWN AS THE "PHILIPPINE COOPERATIVE CODE OF 2008"

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled::

SECTION 1. Articles 1, 2, 3, 4 and 5 of Chapter 1 on General Concepts and Principles of Republic Act No. 6938, otherwise known as the "Cooperative Code of the Philippines," are hereby amended to read as follows:

CHAPTER I
GENERAL CONCEPTS AND PRINCIPLES

"ARTICLE 1. Title. - This Act shall be known as the "Philippine Cooperative Code of 2008".

"ART. 2. Declaration of Policy.- It is the declared policy of the State to foster the creation and growth of cooperatives as a practical vehicle for promoting self-reliance and harnessing people power towards the attainment of economic development and social justice. The State shall encourage the private sector to undertake the actual formation and organization of cooperatives and shall create an atmosphere that is conducive to the growth and development of these cooperatives.

How To Compute Dividend And Patronage Refund for Cooperatives

We have created an online course for Computation of Dividends and Patronage Refund and it is for FREE at teachavenue.com. 

The direct link to the online course can be seen in this link. 

We hope all cooperators can learn through our course. If you have any questions of query regarding the computation or the template or some other cooperative information please feel free to contact us at mpmanagementconsultancyfirm@gmail.com.  

Add Your blogs Post to Your Facebook Page or Profile Newsfeeds

Promoting your blog in facebook is a great way to increase traffic and promote your blog. There are 3 ways to do it.

1. Open you blog post - copy url - paste on facebook newsfeed or page
2. Add blog url address to your facebook profile
3. Auto post blog post to facebook

Let's discuss them one by one.

1. Open you blog post - copy url - paste on facebook newsfeed or page

This is just merely sharing the link of your blog post and pasting it in your facebook profile.

MANUAL - EASY - STRAIGHTFORWARD.

Open your blog post - Copy the url - paste it in your facebook profile.

Note:
When the post snippet appears, you may delete the url pasted, facebook will already recognize it.

Kag Danilo Flores of Hagonoy Bulacan as Mentioned by Pres Duterte last night May 4 2020

Kag Danilo Flores of Hagonoy Bulacan as mentioned by Pres Duterte in meeting last May 4 2020

COOPERATIVES ALL OVER THE COUNTRY GOING THE EXTRA MILE TO SERVE THEIR MEMBERS AND COMMUNITIES AMIDST COVID-19 PANDEMIC: REPORTS FROM THE REGIONS

It is worthy to note that cooperatives in every region are serving extra mile to It is worthy to note that cooperatives in every region are serving extra mile to its members and its community while the whole country is under the state of calamity due to Corona Virus Disease 2019 or COVID-19.  






Each and every cooperative in the different regions has their unique way of Each and every cooperative in the different regions has their unique way of extending help and assistance to members who cannot leave their house for work and livelihood because they need to stay at home and be safe from contracting virus. It is also during this hard time where the community and the local government units cancount cooperatives’ cooperation, support and resources are awe-inspiring. Truly, the spirit and  value of BAYANIHAN lives within the cooperative movement amidst this distress.

From CDA website

CDA SUPPLY CHAIN READINESS PROG FOR COOPERATIVES" LIST OF COOPERATIVES PROVIDING SERVICES TO THEIR RESPECTIVE MEMBERS AND COMMUNITIES DURING NATIONAL HEALTH EMERGENCY OPERATING UNDER ENHANCED COMMUNITY QUARANTINE GUIDELINES

Repost from CDA website

Despite the National Health Emergency brought by the Corona Virus Disease 2019 or COVID-19, the spirit of cooperativism indeed manifest with the continuous support and commitment of cooperatives that are currently providing services in different regions. The various services  provided to their members and respective communities are related to the following: food essentials (e.g. selling of agricultural products, consumers, catering, etc.), banking services, money transfer/remittances, transport service to front-liners, hauling, health services, water refilling, gasoline station and others, in consonance with the guidelines of the Inter-Agency Task Force on Emerging Infectious Diseases  (IATF-EID).

With the efforts of our CDA Regional Offices,  the list of cooperatives presently providing services during this time of health crisis is hereby presented which will facilitate  the members and community to access information and/or services of the cooperatives.

Complete list on this link See Here
Source url:
https://www.cda.gov.ph/images/Advisory/covid/Updated_list_coops_ECQ_2020_April_24.pdf

SEC Orders Mandatory Grace Period on Loans During ECQ for Financing, Lending and Micro-finance

Please be advised that, in view of the further extension of the Enhanced
Community Quarantine (ECQ) Period until 15 May 2020, the initial thirty (30)-day
grace period for the payment of loans, as provided under Section 4(aa) of Republic
Act No. 11469, or the Bayanihan to Heal As One Act1
, shall apply to all loans with
principal and/or interest falling due within the extended ECQ Period, from 17 March
2020 to 15 May 2020.



This is pursuant to Section 3.01 of the Implementing Rules and Regulations
(IRR) of Section 4(aa) of the Bayanihan to Heal As One Act, which reads:

“Section 3.01 Mandatory Grace Period. All Covered
Institutions shall implement a 30-day grace period for all loans with
principal and/or interest falling due within the ECQ Period without
incurring interest on interest, penalties, fees and other charges.
The initial 30-day grace period shall automatically be extended if
the ECQ Period is extended by the President of the Republic of the
Philippines pursuant to his emergency powers under the Bayanihan
to Heal as One Act.” 

In this light, all FCs, LCs and MF-NGOs are hereby directed to extend the 30-
day grace period to borrowers with payments due within the extended ECQ Period,
pursuant to Section 4(aa) of the Bayanihan to Heal as One Act and its IRR.



Full memorandum advice of SEC can be viewed here.

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Image courtesy: Teachavenue.com

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Bureau of Customs Issued CAO 07-2020 under the “Bayanihan to Heal as One Act"

The Bureau of Customs (BOC) on Wednesday issued the guidelines for the implementation of tax and duty-exempt importations of personal protective equipment (PPEs) and other emergency medical supplies, under the “Bayanihan to Heal as One Act.”

BOC said Customs Administrative Order (CAO) 07-2020 will serve as the guidelines for  Section 4(o) of Republic Act No. 11469 which states that importation of equipment and supplies for COVID-19 response shall be exempt from impost duties, taxes, and other fees.

Importations Related to COVID-19 Declared Tax Exempt

IMPORTED GOODS, supplies and equipment, including test kits and protective equipment needed for containing the coronavirus disease 2019 (COVID-19) outbreak, as well as imported materials needed to manufacture these products have been declared exempt from all taxes, duties and fees, the Bureau of Customs said.

In Customs Administrative Order (CAO) 07-2020 released Wednesday, the BoC said such imports are exempt from value-added tax (VAT), excise tax and other fees.

The exemption was also outlined in Revenue Regulations (RR) No. 6-2020, which was also issued Wednesday.

BIR RR NO. 6-2020 March 30, 2020 Tax Exemption (RA) No. 11469 (Bayanihan to Heal as One Act)

REVENUE REGULATIONS NO. 6-2020 issued on March 30, 2020 implements the Tax Exemption provision of Republic Act (RA) No. 11469 (Bayanihan to Heal as One Act).

Under the said law, the President has been given the power to liberalize the grant of incentives for the manufacture or importation of critical or needed equipment or supplies, which include healthcare equipment and supplies: Provided, That importation of these equipment and supplies shall be exempt from import duties, taxes and other fees.Based on the said provision, the following declarations are made in the regulations:

a. The importation of critical or needed healthcare equipment or supplies intended to combat the COVID-19 public health emergency, including personal protective equipment; laboratory equipment and its reagents; medical equipment and devices; support and maintenance for laboratory and medical equipment, surgical equipment and supplies; medical supplies, tools, and consumables; common medicines; testing kits, and such other supplies or equipment as may be determined by the Department of Health and other relevant government agencies, shall be EXEMPT from Value Added Tax, Excise Tax and other fees;

Impacts of COVID-19 in the Philippines

Image from: heywood.org

 Impact on the Economy (Economic Impact)

The hit to global growth is imminent, with a global recession possibly on the horizon. The Philippines will not be exempted from it.

Average global gross domestic product (GDP)  forecasts are around 0.9 percent for 2020, with the latest forecasts from  S&P  and  Capital  Economics at  1.0 percent and -1.0  percent, respectively.1  Bloomberg likewise presented four (4) scenarios for global growth —

1. China shock in which global GDP growth is at  2.9  percent; 
2. more outbreaks  with  2.3 percent global  GDP  growth;  
3. widespread contagion  with  1.2 percent global GDP growth; and 
4. global pandemic with 0.1 percent global GDP growth. 

Scenario 2 also assumes that there will only be “mild” recessions in Japan and the Euro Area. Similarly, in a March 2 report, the Organisation for  Economic Co-operation and  Development  (OECD)   suggested a  worst-case scenario of 1.5 percent global GDP growth for 2020. Global growth is seen to be primarily dragged down by direct effects of reduced demand and heightened uncertainty. They likewise estimated world trade to be significantly weaker, with a decline of 3.75 percent

Risks remain tilted to the downside,  with  Capital  Economics seeing a longer downturn for the global economy due to the following factors: (a) direct virus-related disruption that lasts longer than expected; (b) risk of lengthier recession or even another financial crisis as companies turn insolvent while central banks have limited monetary space,  resulting in higher unemployment and a further downturn in consumer spending.

COVID 19 Changes in the Business in the Philippines

Coronavirus Disease (2019) COVID-19 now poses a more serious downside risk to the global economy.  The World  Health  Organization  (WHO) declared  the  COVID-19  outbreak  a  pandemic  on  March  11  to signify  its  severity  and  global  coverage  and  urged  countries  to  take  ‘urgent  and  aggressive  action.’  On  March 13, Europe was declared the new epicenter of the virus, as its confirmed cases and deaths surpassedthose  of  the  rest  of  the  world  (except  China).  New  cases  in  Europe  even  surpassed  those  of  China  at  its peak. As  of  March 19,  globally  confirmed  cases  reached218,823 and 8,810 deaths.  In  the  Philippines, there are now217 total confirmed cases, 17 deaths, and 8 recoveries.

As a result, several countries have taken a variety of measures from mass testing, travel/border restrictions, to lockdowns in a bid to contain the virus. Governments and central banks have likewise been adjusting the monetary  and  fiscal  policy  to  mitigate  the  economic  impact.  This  means  that  we  are  now  in  the  second  chapter of the crisis where the pandemic has translated into an economic crisis.  In a way, the second chapter is inevitable since part of the response to address the pandemic is to slow down economic activity. If we are  unsuccessful  in  navigating  through  this  pandemic-induced  economic  crisis,  then  we  enter  the  third  chapter: social and political crisis.

Here's a complete PDF copy of the NEDA's Plan.
Addressing the Social and Economic Impact of COVID-19 Pandemic.

VAT Exempt Transactions in the Philippines

Value Added Tax is a tax on consumption levied on the sale, barter, exchange or lease of goods or properties and services in the Philippines and on importation of goods into the Philippines. It is an indirect tax which may be shifted or passed on to the buyer, transferee or lessee of goods, properties or services.

Section 109 of the Tax Code enumerated the following transactions to be exempted from Value Added Tax:

1. Sale or importation of agricultural and marine food products in their original state, livestock and poultry of or king generally used as, or yielding or producing foods for human consumption; and breeding stock and genetic materials therefor. Products classified under this paragraph shall be considered in their original state even if they have undergone the simple processes of preparation or preservation for the market, such as freezing, drying, salting, broiling, roasting, smoking or stripping. Polished and/or husked rice, corn grits, raw cane sugar and molasses, ordinary salt and copra shall be considered in their original state; 
2. Sale or importation of fertilizers; seeds, seedlings and fingerlings; fish, prawn, livestock and poultry feeds, including ingredients, whether locally produced or imported, used in the manufacture of finished feeds (except specialty feeds for race horses, fighting cocks, aquarium fish, zoo animals and other animals generally considered as pets);

Inventory Management System Using Google Sheets

Learn how to create an inventory management system template in Google Sheets.

This video is presented by Learn Google Spreadsheets youtube channel. In this video a comprehensive creation of the Inventory System by spreadsheets.

Either your company or store is maintaining small or bulk inventories with frequencies of of purchases and sales and inventory movements with price variations. This inventory system can help in maintaining an inventory system.

There’s a little technicality on the spreadsheet functions but they are understandable and can easily be learned.

We are posting this to give our readers a very good overview on how an inventory should be created using google spreadsheets.