Tag: retailing

Department of Finance (DOF) says online sellers must pay equal taxes as physical stores

Department of Finance (DOF) says online sellers must pay equal taxes as physical stores

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As far as the Department of Finance (DOF) is concerned, those who sell online must pay equal taxes as the physical stores do, according to a Manila Bulletin news report. Take note that the Philippines continues to recover from the economic downturn of COVID-19 and the coronavirus itself no longer poses a danger to the nation.

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

The Department of Finance (DOF) asserted that online sellers should be subject to the same tax obligations as traditional brick-and-mortar business owners for the sake of fairness.

Finance Secretary Benjamin E. Diokno said the collection of withholding tax on online sellers by the Bureau of Internal Revenue (BIR) is driven by the principle of fairness, and it does not constitute a new tax.

Withholding tax is a type of tax collected from various income sources, including salaries, wages, interest, and other earnings.

“It’s a matter of fairness because if you buy from a regular store, you have to pay taxes. But here [in online business], you don’t have to pay, and that’s unfair,” Diokno told reporters.

Diokno stressed the need for individuals to view the tax system as fair and willingly fulfill their tax obligations.

The BIR has proposed a new rule that would require online platform providers, such as Lazada and Shopee, to withhold one percent of the money they pay to their partner sellers. This withholding tax would be applied to half of the total amount being paid.

The BIR explained that this is not an additional tax, but rather a way to enforce existing tax laws and ensure proper tax collection.

“It’s not only increasing tax revenues, it’s a matter of fairness. A good tax system should be fair. That should be one of the characteristics of a good tax system, fairness,” the finance chief said.

BIR Commissioner Romeo D. Lumagui, Jr. earlier said the tax agency aims to begin collecting a creditable withholding tax from online platform partner merchants by the fourth quarter of 2023.

Lumagui also said that their objective is to fully implement this tax by next year.

He also explained that the purpose of imposing taxes on online merchants is to ensure a level playing field between traditional brick-and-mortar retailers and those selling on digital platforms or marketplaces.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you agree with the DOF on taxing online sellers? If you own a physical store selling products, does the presence of local online sellers harm your business?

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

BIR targeting online sellers

BIR targeting online sellers

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If you have been engaging on selling items or services online, you should be aware that the Philippines’ authority on taxation the Bureau of Internal Revenue (BIR) is constantly watching you and it is seeking ways to tax you, according to a BusinessWorld news report. Already the BIR has been communicating with the e-commerce platforms.

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

THE BUREAU of Internal Revenue (BIR) is looking to collect taxes from online sellers on e-commerce platforms more efficiently.

BIR Commissioner Romeo D. Lumagui said it is difficult to monitor taxes on individual online sellers on e-commerce platforms.

“We’re in constant communication with the platforms, because it’s a challenge to monitor. We’re thinking of ways to approach it because if we look at individual online sellers, it’s a bit difficult. It’s a challenge,” he told reporters on Thursday evening.

Mr. Lumagui said the BIR is prioritizing ways to better collect taxes from online sellers and other new platforms this year.

The pandemic forced many entrepreneurs to shift to online selling using e-commerce platforms like Shopee and Lazada, as well as social media platforms such as Facebook, Instagram and Tiktok.

As of 2022, the Department of Trade and Industry (DTI) estimated there are around two million entities doing business as online sellers.

In 2021, the digital economy contributed 9.6% to the country’s gross domestic product (GDP), or about P1.87 trillion. DigiPinas, the multi-sectoral initiative led by UBX Philippines Corp., earlier said the Philippine digital economy can grow to as much as $150 billion or about P8.3 trillion in the next decade.

Meanwhile, Mr. Lumagui said the BIR will tap social media influencers to help educate the public on the importance of paying taxes.

“They have reach and I think that one way of making people comply with tax obligations is to educate the people since tax is a very complicated topic not easy to understand,” he said, adding the BIR will schedule a dialogue with them.

Mr. Lumagui said the BIR will continue its efforts to collect taxes from social media influencers, since they’re earning income. He noted there are already some who are undergoing tax audits.

“What we want is to dialogue with them that these are your obligations as social media influencers, you’re earning from whatever you’re doing, so this is your responsibility as income earners,” he said.

The BIR said it collected around P44.6 billion worth of tax from online content creators and retail sales at the end of 2021.

Let me end this piece by asking you readers: What is your reaction to this recent development? If you have been selling products or services online for the last twelve months, do you think the BIR’s move with taxing your business will negatively affect Philippine e-commerce as a whole? Have you set aside enough money for potential taxation by the BIR? What is the one thing about online selling that made you stay away from selling through physical establishments like a store?

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

Antitrust notification for Robinsons’ full takeover of Ministop not needed according to Philippine Competition Commission (PCC)

Antitrust notification for Robinsons’ full takeover of Ministop not needed according to Philippine Competition Commission (PCC)

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If you have been living here in the Philippines, have you visited any branch of the Ministop chain of convenience stores lately? Did you notice that the term acquisition was more prominent recently in business news as of late mainly due to the Microsoft-Activision-Blizzard deal?

The point here is that another acquisition happening in the Philippines – Robinsons is set for a full takeover of Ministop (which itself is already majority owned by the said corporation) and an antitrust notification is not needed according to the Philippine Competition Commission (PCC). This was reported lately by GMA Network news.

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

The Philippine Competition Commission (PCC) said Tuesday Robinsons Supermarket Corp. does not need to notify the antitrust watchdog of its full takeover of the Ministop franchise in the country as the company already has majority control over the convenience store franchise.

“Based on PCC’s merger rules, the Commission acknowledges that Robinsons’ current majority stake in Ministop already affords them control, and Robinsons is no longer required to notify the proposed acquisition to the antitrust commission,” the antitrust body said in a statement.

On Monday, Robinsons Supermarket —a wholly-owned subsidiary of Robinsons Retail Holdings Inc. (RRHI)— announced it will acquire the 40% share of Ministop Japan in Robinsons Convenience Stores Inc. (RCSI), effectively taking full ownership of the business.

RCSI is the exclusive franchisee of Ministop in the Philippines, with Robinsons Supermarket Corp. holding a 60% stake in the firm. It will continue to operate the stores with the Ministop brand, within a prescribed transition period agreed upon with the Japanese counterpart.

RRHI said the stores will continue to operate as Ministop until they are repurposed and appropriately rebranded, in consideration of its ready-to-eat offerings such as Uncle John’s Fried Chicken and Kariman.

The PCC said it received reports of Ministop Japan’s sale to Lotte, including its sale of its joint venture stake in the Philippines.

Nikkei Asia reported that the Japanese convenience store operator will sell its South Korean and Philippine businesses, after unloading a Chinese subsidiary in Qingdao.

The PCC, however, noted that it will look into Robinsons’ portfolio in the consumer retail sector which includes supermarkets, department stores, and community malls, among others.

“Merger reviews are focused on the effects and changes of market behavior in the hands of new owners or stakeholders,” it said.

“This transaction may result in a change in ownership of a significant portion of equity but it is not likely to have an effect on the economic behavior of the target firm,” it added.

Let me end this piece by asking you readers: What do you think about this business development? If you are a regular customer of Ministop, what do you think will happen once the full takeover by Robinsons happens? Do you think that the quality of the customer service and store facilities will improve? When it comes to convenience store competition here in the Philippines, how do you rate Ministop with the likes of 7-Eleven, FamilyMart and Lawson? Are you personally attached to Ministop’s branch?

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 and also please consider sharing this article to others. 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/

COVID-19 Crisis: SM Southmall certified safe in Las Piñas City

COVID-19 Crisis: SM Southmall certified safe in Las Piñas City

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SM Southmall, a major shopping and lifestyle destination located along Alabang-Zapote Road in Las Piñas City, recently received its Safety Seal and Vice Mayor April Aguilar-Nery was present during the inauguration ceremony at the mall.

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

SM Southmall has been awarded with the safety seal. With Las Piñas rolling out the safety seal inspection in the region, SM Southmall is the first mall city to receive the seal.

Present in the inauguration were the Vice Mayor of Las Pinas City, Hon. April T. Aguilar; Chief of the Business Permits and Licensing Office Mr. Willy Gaerlan; Bernice Baculi, AVP of Operations for SM Southmall and Sally Chandumal, Mall Manager of SM Southmall.

“I am very pleased to be here in SM Southmall for the awarding of the safety seal certificate wherein SM Southmall is the first to pass the safety seal inspection conducted by our team,” says BPLIO Head Willy Gaerlan, “we hope we will maintain the standard we’ve already received.”

SM Southmall continues to excel in its safety and sanitation protocols with temperature checks, one-way signs, social distancing rules, alfresco dining, safety protocol officers and constant hygiene maintenance to ensure the safety of its customers.

In my personal observation, SM Southmall and SM shopping malls, literally, went the extra mile in keeping their facilities sanitized, cleaned and orderly. As for what the Safety Seal is, it is the indication that the establishment is compliant in terms of the standard safety protocols and other related requirements. In nearby Muntinlupa City, the Alabang Town Center (ATC) was certified with the Safety Seal and other malls in the city applied for the seal.

Going back to Las Piñas City, the Safety Seal continues to make its presence felt even more. Already offices in Las Piñas City Hall got certified with the Safety Seal making them safe for people to visit. The City Government has a team dedicated on handling Safety Seal certifications.

For South Metro Manila residents reading this, SM Southmall’s safety certification is a big help not just to the mall itself and to its business partners, but also to anyone who needs to be at the mall for their respective needs, dining, and business transactions.

As for local COVID-19 matters, any Las Piñas resident reading this who has yet to get registered for free COVID-19 vaccines can learn the ways (4 methods) by clicking here. Anyone who is ready and willing to register online can click bit.ly/LasPiñasVaccination

Let me end this piece by asking you readers: Have you been visiting SM Southmall lately for your essential needs or dining? Are the mall personnel there working to ensure your safety from COVID-19? If you visit SM Southmall more than once a week, how much time do you spend there during each visit?

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 and also please consider sharing this article to others. 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 as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com

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

Comic Quest announces closure!

Comic Quest announces closure!

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Comic Quest, a notable retailer of comic books and geek stuff (including premium products like action figures) here in the Philippines, announced yesterday that it will be closing its 35-year-old business due to the tremendous economic difficulties related to, unsurprisingly, the ongoing pandemic and also the disrupted state of the international distribution of comic books. Before the end comes, however, a Farewell Sale at their SM Megamall branch in Mandaluyong City has launched and will last until sometime in October. The said sale will have all items discounted at least 50%.

In my experience of the past decade, as a resident of Alabang, Muntinlupa, I often bought new comic books (especially Wonder Woman) at the Festival Mall Alabang branch of Comic Quest. It was also at the same store located a short walk away from the cinemas where I also ordered and received hardback editions of EC Comics Archives. Comic Quest Alabang was a favorite weekend destination of mine for many years. Even before I became a collector of comic books (specifically superhero comics), I first heard about Comic Quest way back in 1990 in the classroom where I had a few classmates who bought comic books from them. Back in the 1990s, Comic Quest had a branch in Makati and it was there where I bought Web of Spider-Man #100 in 1993.

As time passed by, my personal interest in comic books waned and I actually stopped buying comic books (both new and old) shortly before the lockdown here in the Philippines was implemented. The pandemic and related lockdown brought entire economies down worldwide and the Philippines was not spared. It is also depressing to learn that many people lost their jobs as well as their income. No disposable income, no more demand for entertainment products like comic books, theatrical showing of movies, shows and the like. The priority now of people living during the pandemic goes to the essentials.

Yesterday, hours after Comic Quest’s closure announcement, I took the opportunity to visit and see their Festival Mall branch in Alabang. It is gone!

The commercial space in the middle used to be occupied by Comic Quest inside Festival Mall. This picture was taken hours after the closure announcement.

Comic Quest’s decision to close down is understandable and acceptable. They did the best they could to survive and prevent their employees from becoming unemployed until the pandemic-related depression overwhelmed them (as well as the many other businesses of different types and sizes).

Just a few years ago, another comic book specialty retailer had to close down their Alabang Town Center branch. It’s clear that comic books as a business continues to fail especially now that people are often online and find their kind of stuff through digital services/retailers.

In closing this, posted below for your reference is the complete closure announcement of Comic Quest. The retailer will be missed!

This is a special announcement for all our valued customers. We hope you ‘re doing well and staying safe during this difficult time.

We just want to let you know that because of the combined pressure of the pandemic, as well as the disruption of the global distribution of comic books, we’ve had to make the difficult decision to begin the process of closing down Comic Quest. It is and has been an extremely challenging time for us, and we feel that this is our best option moving forward.

It has been a long and amazing road, from our earliest days in our first branch at BF Homes in Alabang, to Greenhills to Makati to multiple branches as far away as SM Cebu. But now the time has come to say goodbye, and let all of you know how much we appreciate being given the chance to be part of the comic book industry.

We want to thank each and every one of you for being one of our valuable loyal customers and a very important member of the Comic Quest family. We wouldn’t have reached 35 wonderful years in business without loyal customers like you. Our sincerest and most heartfelt thanks for being with us through all these years.

In line with our decision, we’re holding a special FAREWELL SALE from September 16th and into October, at our SM Megamall branch. During this time we will be selling ALL items from at least 50% off and up.

Please help us spread the word and share this message with other friends and collectors whom you think might be interested.

While our time in this wonderful industry comes to an end, we’re wishing you many more years of happy collecting! And in the words of the great Stan Lee- Excelsior!

Best wishes,

Comic Quest

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. 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 as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com

Cyberzone Mobile Fest 2019 at SM City BF Parañaque a Success

Cyberzone Mobile Fest 2019 at SM City BF Parañaque a Success

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Cyberzone Mobile Fest 2019 at SM City BF Parañaque a Success

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The Cyberzone Mobile Fest 2019 at the Atrium of the mall.

This past weekend at SM City BF Parañaque, the Cyberzone Mobile Fest 2019 held at the Atrium turned out a successful event filled with excitement and surprise that delighted both attendees and the spectators.

The event started on Friday (June 22) with technology event partners Huawei, Smart, Samsung, Real Me, Xiaomi, Vivo and Power Mac Center each having their own booths showcasing their latest products and services to customers who passed by.

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The 2019 Mobile Legends tournament.

The excitement really ramped up the following day (June 23) as the highly anticipated Mobile Legends Tournament took place. Right from the start, many players (predominantly males) lined up to register themselves and eagerly waited. Once the tournament started, the action and excitement really made the Cyberzone Mobile Fest 2019 more energetic. As the competitors focused on their smartphones, action of the 2019 Mobile Legends Tournament were displayed on the large screen which was nicely spiced up by the two tournament commentators. There were bouts of cheers and awe in between. By the evening, the tournament was won by Avalance which received P5,000 as the grand winner.

Next to them were KZTL at 2nd place and Fantasy Sports at 3rd place. They received P3,000 and P2,000 respectively.

Grand Champion Avalanche
2019 Mobile Legends tournament grand champion Avalanche.

2nd Place KTZL
Team KZTL won 2nd place.

3rd Place Esports Fantasy
3rd placer was team Fantasy Sports.

Along the way, special programs took place. The event organizers formally unveiled the brand new and more modern looking logo of Cyberzone which wowed the audience.

 

Cyberzone
The new logo.

For the newcomers reading this, Cyberzone is the largest chain of IT retail stores in the Philippines. Aside from holding the biggest I.T. fairs, gaming events, and social networking engagements; Cyberzone is known for its notable product mix and quality.

Back to the event, a digital quiz took place as well as fun tech talks. A raffle draw was held and after several attempts of calling out the names of the winner, it was Joie Reyes who was called and she made her way to the stage to claim the Realme 3 smartphone. Being physically present is a requirement to claim the raffle prize.

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Very lucky raffle prize winner Joie Reyes with her Realme 3 smartphone. With her were Cyberzone marketing officer Shaquiel Segarra and SM City BF Paranaque’s Inah Bunyi.

One of the major partners of the event, Huawei, had its officer named Elton present the company’s achievements and vision for the world of technology. He announced that Huawei’s smartphone shipment surpassed 206 million in 2018 alone and that the company ensured that each unit is designed to give users full functionality, the best digital photography capability and enduring battery life.

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Huawei’s Elton gave an in-depth presentation of the company’s technology strategy.

Huawei was not limited to smartphones. Its business is quite diverse as its non-smartphone product shipments in 2018 exceeded the 100,000,000 mark. The figure includes tablets, laptops, watches and accessories. Huawei also strives to create more value through the innovative “1+8+N” all-scenario intelligent product ecosystem. From smartphones to cars and to home appliances, the company has a strategy to give a wide variety of users the means to enhance their lifestyles through technology.

For the future, Huawei is leading the next phase of the 5G innovation with the Balong 5000 which is the most powerful 5G modem in the world. It contains the world’s first chipset to support both NSA and SA architectures, the world’s fastest peak downlink speed of 4.6 gigabytes per second and uplink speed of 2.5 gigabytes per second, and the world’s first R14 V2X on 5G chipset.

Overall, the Cyberzone Mobile Fest 2019 at SM City BF Parañaque was a tremendously successful event that had fun, excitement and enlightenment brought together at the Atrium with a strong emphasis on technology. Cyberzone meanwhile will remain a very significant commercial chain for anyone around the nation looking for the latest in technology.

The Cyberzone Mobile Fest 2019 will continue in the following SM malls: Cebu (June 28-30), Sucat (July 5-7), Davao (July 12-14), Legazpi (July 19-21), and North EDSA (July 26-28).

For more information, visit http://www.smsupermalls.com.

Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. Also my fantasy book The World of Havenor is still available in paperback and e-book format. 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 as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com