journalism – Page 39 – Author Carlo Carrasco

World Bank sees Philippine economy growing at 5.8% this year

January 18, 2024January 11, 2024carlocarrasco

While local economic managers predict the Philippine economy growing between 6.5% to 7.5% this year, the World Bank (WB) itself forecasts a 5.8% growth for 2024, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

THE WORLD BANK (WB) expects the Philippines to be among the fastest-growing economies in Southeast Asia this year.

In its latest Global Economic Prospects, the multilateral lender projected Philippine gross domestic product (GDP) to expand by 5.8% in 2024, same as its forecast in December.

The Philippine growth projection is the fastest among Southeast Asian economies, tied with Cambodia (5.8%), and ahead of Vietnam (5.5%), Indonesia (4.9%), Malaysia (4.3%), Lao People’s Democratic Republic (4.1%), Timor-Leste (3.5%), Thailand (3.2%) and Myanmar (2%).

However, this is below the Development Budget Coordination Committee’s (DBCC) 6.5-7.5% growth target for 2024.

The World Bank’s growth forecast for the Philippines is also higher than its 4.5% projection for East Asia and the Pacific.

The multilateral lender sees slower growth in the region due to the “anticipated deceleration in economic activity in China.”

Other risks to the growth outlook include geopolitical tensions in the Middle East that could lead to higher oil prices, dampened global trade, tightening financial conditions and climate-related disasters, it said.

“Extreme weather events, the frequency of which has increased in recent decades as a result of climate change, also pose a downside risk to the regional outlook,” it added.

In the Philippines, the government is preparing for the potential impact of the El Niño weather event this year.

The latest bulletin from the state weather bureau showed that El Niño will likely persist from March to May, when dry season crops are often harvested.

National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan earlier said El Niño would likely affect the agriculture sector and drive food prices higher, which could threaten the inflation downtrend.

On the other hand, the multilateral lender said resilient domestic demand could spur growth drivers in the East Asia and Pacific region.

“Modest inflation, and in many cases robust labor markets supported by buoyant service activity, are anticipated to sustain household spending,” it said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will grow better this year than the WB’s prediction of 5.8%?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Withholding tax on online sellers could address revenue leakages

January 18, 2024January 12, 2024carlocarrasco

With the 1% withholding tax on online sellers already in effect, there is potential that the said tax could address revenue leakages, according to a BusinessWorld news article.

To put things in perspective, posted below is an excerpt from the BusinessWorld news article. Some parts in boldface…

THE GOVERNMENT should ensure that it will be able to properly implement and monitor the collection of withholding tax on online sellers.

The Bureau of Internal Revenue (BIR) recently issued Revenue Regulations (RR) No. 16, which imposes a withholding tax on the gross remittances made by electronic marketplace operators and digital financial service providers to merchants.

Analysts said that the implementation of the withholding tax on online sellers will allow the BIR to better track transactions in the digital economy.

“The implementation of a 1% withholding tax on online sellers is intended to expand the tax base by addressing potential revenue leakages in the growing online retail industry,” China Banking Corp. Chief Economist Domini S. Velasquez said in a Viber message.

“Ideally, the withholding tax system should streamline the tax payment process for online sellers and should have no substantial impact on prices under the assumption that retailers are paying correct taxes,” she added.

Eleanor L. Roque, tax principal of P&A Grant Thornton, said that the measure provides the BIR an additional mechanism to “ensure that taxes are paid by the business owners since their income will also be reported by their withholding agents.”

Ms. Velasquez noted that the imposition of the withholding tax may also mitigate some instances of noncompliance by online sellers.

“This measure is expected to increase government revenues and promote transparency among companies engaged in online retail trade,” she added.

Ms. Roque said that the tax will be an “additional administrative burden” on electronic marketplaces.

“These entities will have to put controls in place to identify remittances to online sellers that are subject to withholding taxes,” she said in a Viber message.

Under BIR regulation, a withholding tax of 1% will be imposed on one-half of the gross remittances by e-marketplace operators and digital financial service providers to the sellers or merchants for the goods and services paid or sold through their platforms or facilities.

However, the tax is not imposed if the annual total gross remittances to an online seller for the past taxable year has not exceeded P500,000; if the cumulative gross remittances to an online seller in a taxable year has not yet exceeded P500,000 or if the seller is duly exempt from or subject to a lower income tax rate pursuant to any existing law or treaty.

The regulation covers marketplaces for online shopping, food delivery platforms, platforms to book lodging accommodations, and other similar online service or product marketplaces.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the withholding tax on online sellers will solve government revenue leakages?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Southern Police District (SPD) officers arrest leader of gunrunning group at Festival Mall

January 16, 2024January 10, 2024carlocarrasco

Recently in the City of Muntinlupa, the Southern Police District (SPD) conducted an entrapment operation at a part of Festival Mall that resulted in the arrest of the leader of a gunrunning group for the alleged illegal sale of firearms and ammunition, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

A suspected leader of a gunrunning group was arrested by the Southern Police District (SPD) at a popular mall in Alabang, Muntinlupa on Jan. 9.

The SPD Special Operation Unit carried out the operation against the illegal sale of firearms and ammunition.

SPD Director Brig. Gen. Mark Pespes identified the arrested suspect as alias Ivan, 51, alleged leader of the Sgt. Ivan Gun Running Group. The driver of the van with the alias Alvin, 41, is being investigated.

A member of the group, alias Daryl, 40, was arrested in another operation in Sampaloc, Manila.

The arrest was made at about 8 a.m. in front of a Korean grill restaurant in Festival Mall in Alabang.

A subsequent operation at 11:15 a.m. on the same day in Sampaloc, Manila led to the arrest of Daryl, the second target of the operation.

The SPD said the operation stemmed from intelligence provided by a confidential informant, allegedly detailing the involvement of the Sgt Ivan Group in gunrunning activities.

The group is allegedly composed of reservists or former uniformed personnel and believed to be operating in the southern part and nearby cities of the National Capital Region (NCR).

SPD said the entrapment operation, jointly conducted with the Station Intelligence Section of the Muntinlupa Police, the Philippine National Police’s Criminal Investigation and Detection Group Quezon City District Field Unit and Manila Police District Substation 4.

At Festival Mall, Ivan, the No. 1 target of the operation, sold two ammunition boxes of 5.56mm containing an estimated 2,000 rounds after receiving marked buy-bust money. Subsequently another operation was launched involving three high-caliber firearms.

The transaction started in Muntinlupa City and extended to D. Tuazon, Quezon City. Target No. 2, Daryl, aware of the situation, swiftly changed the location to Bataan Street, Barangay 55, Sampaloc, near the boundary of Quezon City and Manila. Despite attempts to evade arrest, Daryl was swiftly apprehended by the team.

Recovered by the police from Ivan were P1,000 genuine bill marked money, two ammunition boxes containing an estimated 2,000 rounds of green tip 5.56 ammunition, one Intelligence Service Identification Card under the name of suspect alias Ivan.

Meanwhile, recovered from Daryl, the SPD said, were P1,000 genuine bill, one unit of Imbel Brasil .45 caliber pistol, one magazine for .45 caliber pistol, 15 live ammunition for .45 caliber pistol, black inside holster for .45 caliber pistol, one Bentley shotgun, 35 shotgun shells, red sling bag intended as pouch for shotgun ammunition, one US carbine with foldable butt and sling, 82 live ammunition for carbine, black pouch intended for carbine ammunition, brown sling bag. An Armscor .45 caliber pistol recovered from Daryl is under verification.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you surprised that the buy-bust operation and arrest happened within the area of Festival Mall?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Ten early bird taxpayers of Muntinlupa City for 2024 recognized

January 15, 2024January 9, 2024carlocarrasco

Recently in the City of Muntinlupa, the City Government formally recognized the first ten early bird taxpayers who settled their dues when they had their respective business permits renewed this year (2024), according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

The Muntinlupa City government recognized 10 early bird taxpayers who renewed their business permits for this year.

Mayor Ruffy Biazon led the recognition on Jan. 8 of the business owners who were first in line at the Business Permit Renewal Hub located at the Muntinlupa Sports Center in Barangay Tunasan under the supervision of the Business Permits and Licensing Office (BPLO), applauding them for avoiding the rush and the possibility of late penalties.

The first 10 early bird taxpayers are Mama Nene Store, Mini-Mini Store, Beecube Inc., Bob Garon & Vandervoort Consultancy Inc., Chaulameir Enterprises, Erchie Appliance Parts, Oost & Voort Inc., Russel Ramos T-shirt Services; People’s Choice Apartment, and Aurelio Alquiros Tailoring Shop.

Each of them received a certificate of recognition from the BPLO and a basket of groceries.

Business permit renewal in Muntinlupa is ongoing from Monday to Friday until Jan. 20 at the Muntinlupa Sports Center.

BPLO offers free daily shuttle service to and from the venue for business owners, with pickup and drop off at the Muntinlupa City hall.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City who also manages a local business, do you find the business permit renewal process fast and efficient?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines unemployment rate falls to 3.6% (as of November 2023)

January 15, 2024January 14, 2024carlocarrasco

Based on the latest findings of the Philippine Statistic Authority (PSA), the national unemployment rate fell down to 3.6% as of November 2023, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The country’s unemployment rate fell to its lowest level in November last year, while employment reached its highest since April 2005, the Philippine Statistics Authority (PSA) reported on Tuesday.

At a briefing, National Statistician Dennis Mapa said results of the PSA’s latest Labor Force Survey (LFS) showed that unemployment rate further went down to 3.6 percent during the month, down from the 4.2 percent recorded in November 2022 and October 2023.

It was the lowest recorded unemployment rate since the PSA introduced a new methodology for measuring the LFS in 2005.

In terms of magnitude, the number of unemployed Filipinos was estimated at 1.83 million, down from 2.18 million in November 2022 and 2.09 million last October.

The Labor Force Participation Rate (LFPR), meanwhile, was registered at 65.9 percent or about 51.47 million Filipinos aged 15 and above who were either employed or unemployed.

The LFPR during the month was lower than the 67.5 percent recorded in November last year.

In a statement, the National Economic and Development Authority (NEDA) said the decline was mainly due to reduced participation of young people (34.4 percent from 40 percent) and women (55.4 percent from 57.8 percent) in the labor force, influenced by family responsibilities, schooling, and age-related factors.

The country’s employment rate was estimated at 96.4 percent, also the highest recorded since April 2005.

The number of employed Filipinos was estimated at 49.64 million.

Underemployed persons or those who expressed the desire to have additional hours of work in their current job or to have an additional job or to have a new job with longer hours of work was recorded at 5.6 million, lower than last year’s 7.16 million.

NEDA Secretary Arsenio Balisacan said there is a need to expand the digital economy, including the digitalization of Micro, Small, and Medium Enterprises and startups, to address the declining labor force and increase labor market gains in 2024 and beyond.

“Digitalization enables alternative work arrangements, particularly for the youth, women, and those in the creative sector. This will help address the declining labor force,” Balisacan said.

“We will take full advantage of the liberalization reforms intended to attract investments in the Philippines, especially in digital infrastructure. Upgrading our infrastructure will attract investments that generate high-quality jobs,” he added.

Balisacan said the government will further support a more productive, agile, and adaptive workforce by passing and implementing crucial regulatory reforms, such as the Apprenticeship Bill, Lifelong Learning Bill, and the Enterprise Productivity Act.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines has enough momentum to grow and open up new job opportunities for more Filipinos?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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HIV awareness campaign launched in Las Piñas City

January 12, 2024January 9, 2024carlocarrasco

Recently in the City of Las Piñas, an effort to spread awareness about the human immunodeficiency virus (HIV) – the virus that leads to acquired immunodeficiency syndrome (AIDS) – was launched by the health department under the City Government, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt the Manila Bulletin news report. Some parts in boldface…

The Las Piñas City Health Office (CHO) has launched an awareness campaign on the human immunodeficiency virus (HIV) as it recorded more than 1,500 cases of infection in the city.

During the “Serbisyo Las Piñero” health edition program of the city government hosted by Dr. Dhaniel Calma, CHO medical director, Dra. Maria Alinea Salatan, HIV/AIDS control program medical coordinator; and Jaydee Trinidad, nurse, discussed the number of HIV cases in the city.

Trinidad said the Las Piñas Social Hygiene Clinic in Barangay Almanza Uno logged a total of 1,536 HIV cases in June 2023.

He said the highest number of recorded infections came from the working group (746 or 49 percent) and from the youth (435 or 23 percent).

Salatan said the youngest patient afflicted with HIV being treated at their clinic is a 16-year-old.

She said the city social hygiene clinic is conducting an HIV/AIDS awareness campaign by teaching individuals to practice safe sex to prevent getting the disease.

They are offering free HIV testing from 8:00 a.m. to 5:00 p.m. They extend the testing time for the working group from 5:00 p.m. to 8:00 p.m.

Salatan said they are also conducting free HIV testing for pregnant women to ensure their babies are free from the virus.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Are you concerned that HIV or AIDS cases in the city are gradually multiplying? Are there many people in your local community who are willing to get tested for HIV or AIDS?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Two foreign sex offenders prevented from entering the Philippines

January 8, 2024January 3, 2024carlocarrasco

The Bureau of Immigration (BI) announced recently that they prevented two sex offenders from the United States from entering the country in separate times at the Ninoy Aquino International Airport (NAIA), according to a Manila Bulletin news report. Both foreigners were respectively convicted of varied offences in the past.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Two convicted American sex offenders have been barred from entering the Philippines when they arrived at the Ninoy Aquino International Airport (NAIA) separately on Dec. 27 and Jan. 1.

The Bureau of Immigration (BI) identified them as Paul Neal Coltharp, 46, and Zachary Tyler Thompson, 39.

“Both aliens have been immediately excluded and flown back to their port of origin and their names have been included in the BI’s blacklist of undesirable aliens,” the bureau said.

As registered sex offenders (RSOs), the bureau explained “both Thompson and Coltharp are excludable aliens under the Immigration Act which forbids the entry of aliens convicted of crimes involving moral turpitude.”

It said that Thompson, who arrived from Los Angeles, had been “convicted in 2013 and 2015 for possessing obscene materials depicting a minor in sexual conduct and for annoying or molesting a child under 18 years of age.”

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think there still will be more registered sex offenders from overseas who will do what they can to visit the Philippines? Do you think the BI has what it takes to prevent undesirable aliens from entering as well as preventing the rise of sex tourism?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Four barangay watchmen in Las Piñas City to be investigated for alleged salvaging of a person, several other suspects still at large

January 8, 2024January 3, 2024carlocarrasco

Recently in the City of Las Piñas, four watchmen of Barangay Manuyo (note: the newspaper did not specify which Barangay Manuyo it is) were released from jail temporarily but they still will be investigated over the alleged salvaging of man, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt the Manila Bulletin news report. Some parts in boldface…

Four barangay watchmen accused of alleged “salvaging” of a man in Las Piñas are facing investigation despite their temporary release from jail.

The Prosecutor’s Office ordered the temporary release of Jason Santos, Joseph Clarion, Romeo Natividad and barangay ex-officio Jaime Forteo, all watchmen of Barangay Manuyo, for lack of evidence.

According to P/Master Sgt. Marsito Torreon, Las Piñas police investigator, the arrested suspects were released by the Las Piñas Prosecutor’s Office pending further investigation.

Torreon said the Prosecutor’s Office had set the preliminary investigation on the alleged salvaging of Gerico Rocabo, 24, on January 8.

Torreon said they were able to submit the CCTV footage showing the arrest and mauling of Rocabo by the suspects last Dec. 26.

The police investigator said Barangay Manuyo officials refused to provide the police a copy of the CCTV footage on the incident claiming the camera was not working during the arrest despite the coordination made by city police chief, Col. Jaime Santos, with Barangay chairman Boboy dela Cuz.

Torreon said Santos coordinated with Dela Cruz for the surrender of the remaining suspects and submit a copy of the CCTV footage for investigation.

He said they were able to get a copy of the CCTV footage on the incident after learning that Generika drug store in front of Barangay Mauyo Hall was able to capture the incident.

Torreon said there are still nine suspects that remain at large and two of them were identified as Barangay Kagawad Ongie dela Cruz and Eleno Rongavilla Jr.

Torreon said the arrest of the four suspects was made by his team composed of Master Sgt. Glen Acaba, Staff Sgt. Lary Reparejo, and Cpl. Mark Edwin Orongan.

He said the body of Rocabo was discovered at around 10:00 a..m. on Dec. 26 in a creek in Barangay Manuyo and was reported to the police at around 11:00 a.m.

The police investigator said the victim died due to strangulation and his body was badly beaten.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Are you concerned that the salvaging of a victim could spread fear in your local community? Are the barangay watchmen in your local community disciplined and always implement the laws with regards to safety and security?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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2024 business permit renewal processing in Muntinlupa City ongoing

January 4, 2024January 20, 2024carlocarrasco

UPDATE: Muntinlupa City officially extended the deadline to January 31, 2024 according to a Manila Bulletin news report.

Recently in the City of Muntinlupa, the City Government announced that it has formally launched on January 2, 2024, the annual processing of applications for business permits – both new and renewals) at the Muntinlupa Sports Center in Barangay Tunasan, according to a Manila Bulletin news report. As of this writing, the entire process will last until January 20, 2024, but an extension of the deadline might be declared as with prior years.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

According to the city government, the renewal of business permits will be held from Jan. 2 to 20 at the Muntinlupa Sports Center.

Business owners can also apply business permits online through the Business E-Payment System (BESt).

According to the Muntinlupa Business Permits and Licensing Office (BPLO), the requirements for the renewal of business permits this year are:

1 BIR Monthly/Quarterly Payments for 2023 (photocopy and original)

– Form No. 2550Q/2551Q/2550M

– Form No. 1701Q/1702Q

2. Audited financial statements duly filed before the SEC/BIR (for the period covering two years prior) / Annual Income Tax Return

3. Previous Mayor’s Permit

4. Declaration of gross sales:

a. Notarized Certificate of Gross Sales for 2023

b. If financial documents are consolidated”

– Notarized certificate of breakdown of gross sales per branch for 2023

– 2023 Business Permits/Assessment from other LGUs

– Official Receipts/Sales Invoices/Journals/ POS Reports, etc. (if applicable)

c. Certificate of gross sales for 2023 from the mall admin (if business is located in the mall)

5. Others

a. Copy of 2024 cedula from head office (If business is a branch only)

b. Certification from market administrator (If business is located in Alabang Central Market)

c. Authorization letter and valid ID for representatives

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City who plans to start a business locally, do you find the list of requirements intimidating? Do you think it is inevitable for the City Government to announce a deadline extension?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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LTO suspends license of controversial taxi driver

January 3, 2024December 30, 2023carlocarrasco

During the past Christmas season, it was widely reported in the local media that a certain taxi driver charged his passengers (foreigners) several thousands of Pesos at the Ninoy Aquino International Airport (NAIA) which was recorded on video which in turn became viral online. Very recently, the Land Transportation Office (LTO) suspended for 90 days the driver’s license of the controversial taxi driver, according to a news report by the Daily Tribune.

To put things in perspective, posted below is an excerpt from the Daily Tribune news report. Some parts in boldface…

The Land Transportation Office has issued a 90-day preventive suspension on the driver’s license of a taxi driver caught in a viral video charging P10,000 fare to a foreign tourist at the Ninoy Aquino International Airport.

In the Show Cause Order issued to the driver of the taxi with license plate ABG 7845, LTO chief Atty. Vigor D. Mendoza II said that the driver was ordered to explain why no sanction would be imposed for violations of at least three provisions of the Joint Administrative Order 2014-01 for overcharging passengers, discourteous and arrogant to passengers and violation of the franchise.

Citing the result of the investigation, Mendoza said the taxi driver was identified as Arnel Acle.

“Under the guidance of Department of Transportation Secretary Jaime Bautista, we are now coordinating with the Land Transportation Franchising and Regulatory Board on the sanctions that may be imposed on the operator of the taxi,” Mendoza said.

Bautista earlier disclosed that the entire fleet of the taxi company that owns the cab will no longer be allowed to operate at the NAIA as Mendoza also stressed that the incident was a clear violation of the law.

He added that the investigation they conducted led to the identification of the taxi through a CCTV and later resulted in the identification of the driver.

To recall, the taxi was seen in parking area of the taxi company in Valenzuela City and based on the statement of the operator after the video went viral, Acle told them that he would go on vacation in his province.

Acle, however, did not report for work since he last appeared to remit his earnings to the taxi owner on 19 December and is believed to have gone into hiding.

“We are now coordinating with the Philippine National Police and our local offices to locate this man,” Mendoza said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the suspension issued by the LTO will send a strong message to errant drivers that they will be held accountable for their actions?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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