It was certainly one of the nicest conversations over lunch last week when we got to be in the midst of Tax Whiz Mon Abrea (the Chairman and CEO of Asian Consulting Group) and Jose Magsaysay Jr., a founding member of Association of Filipino Franchisors, Inc. and owner of the country's favorite fries, Potato Corner.
Fresh from the US and his Harvard Kennedy School studies, Mr. Abrea started telling us about how excited he is about the upcoming International Tax Conference in the Philippines entitled BEYOND BORDERS which will be hosted by the Asian Consulting Group (ACG) which he heads. It will be held on the 15th of June 2023 at I'm Hotel in Makati Avenue, Makati City. Issues regarding global taxes, best practices, local and international regulations, policies, it's digitalization will be discussed by esteemed experts and leaders from across the globe. Speakers include those from The World Bank, Asian Development Bank, the International Monetary Fund, United Nations Office on Drugs and Crime, OECD, Department of Budget and Management and the Senate.
Mr. Magsaysay also shared anecdotes about how he started the very successful Potato Corner and how they also weathered the pandemic. To say the least, his story was really inspiring, including the reason why he's supporting Mr. Abrea and his initiatives.
Mr. Abrea also feels this would be beneficial for those in government institutions, private corporations since it will include third party organization with real concrete data not driven by personalities or politicians. Information about the Philippines will be presented (I heard) without prejudice.
Surely, it'll be interesting to hear about that as well. If you're interested, you may get in touch with them via itc@acg.ph or their contact number 09176278805.
Paying taxes hasn't been something people love on face value. For starters, it's complicated, it takes a LOT of effort, expensive, and not to mention you don't really have that much motivation because of politics, or corruption and just base it off just by being a responsible citizen and hope your taxes won't go to waste in this country.
The Asian Consulting Group (ACG) has recently launched an update for the TaxWhizPH App. In a nutshell, this is their version 2.0. This app can compute your taxes with up to date rates and policies. It also guides you to take photos of your receipts, so in case there's need to file for VAT transactions and come tax time, you'll be notified when to pay as it's got calendars for it. The app was developed by ACG and for those who don't know, President Nadine Lustre had a hand for the creative part of this app. She's quite involved since the start and now that it's released, she's quite happy with it.
Nadine was game answering several questions about the app, and how she manages working with the ACG team, and her businesses. She personally knows how hard it is for an ordinary joe to file taxes and glad that ACG and the TaxWhizPH app can help a lot of people.
Mon Abrea also launched his new book IWAS BUWIS-it 2022. This is a step by step guide on how to file taxes including those who are into YouTube, the influencers, and businesses. We asked Mon about how he feels about recent news of politicians not paying taxes, I like what he said about it as it MAKES TOTAL SENSE. Check out our coverage of the event on this video.
Currently, the app is available on beta and can be downloaded through QR code on Android. Please make sure to follow the ACG social channels for updates about it or check the Google Play Store. It's also FREE which means you don't have to pay to use it. You can also talk through chat, email as they've got support for that too. The book is going to be available through ACG and leading book stores nationwide, you can pre order through them or National Bookstore. See? There are a lot of people who still care about the country, and now this would make it easier to do our part as citizens.
Yesterday was a fine day to be worried about taxes. The guru himself Mon Abrea has written the Asian Consulting Group’s “Iwas Buwis-it: What To Do When Tax Attacks!” which is pretty much a very thorough guide about the ins and outs of paying taxes. As you may understand, a lot of people don’t know much about it and are so afraid to put their hands into this topic amidst the corruption laden government office. There has been remarkable changes and they are continuing to do so, but what he wants us to realize is that we should never take that for granted. It also shows life choices, learnings from celebrities like James Reid and Boy Abunda who were also there that evening.
In the book, there are also tell alls and step by step procedures if you’re a business, sme, individual or freelancer, because yes, you have to also pay for that as well. You will also understand why there is a need to do so, plus tips on how not to commit violations especially if you are a business, employing people, or even would want to get amnesty (oh yeah you heard that right!) so as to not be delinquent in doing so.
James and Kean listening to the Tax Whiz
Boy Abunda also gave them really tough questions
Mon Abrea quips “A lot of people are afraid of it but wether we like it or not we have to pay for it. We just need it to be more accessible, easier to understand so people won’t be afraid of even doing or talking about it.”
The book is available at all leading bookstores and the ACG Tax Hub in Mother Ignacia corner Esguerra in QC
ACG has been doing seminars, talks at their Tax Hub in Mother Ignacia in Quezon City plus in different parts of the country. They also have done it in high OFW populated countries so if they would want to engage in business in the Philippines, they would experience ease in doing it if they come back. You would also love the parts where Boy Abunda and James Reid share their personal cases so you would understand it’s not easy to be popular, because that means things are easily tracked and everything has to be accounted for. If you want to know more, you may visit acg.ph for more info.
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