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Friday, November 1, 2024

BIR raids another large-scale Illicit Cigarette Factory in Cabanatuan with 636M Tax Liability


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Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui Jr. reports another win in his war against illicit trade with a successful raid of a clandestine factory that manufactures illicit cigarettes. Said factory is located in Cabanatuan City. 


An estimate of Php 636,935,703.54 of unpaid taxes and penalties will be assessed against those behind this illicit cigarette factory. Commissioner Lumagui also reports that when the BIR raided the factory, together with the National Bureau of Investigation (NBI), they discovered that the operations of the factory was done at the ground floor of what it seems to be a rest house and that truck containers used as storage facilities were hidden under camouflage covers. Also discovered during the raid were other facilities such as a bunker and a firing range. Fifteen (15) Chinese nationals were arrested during the raid. 


"The BIR will continue to raid large-scale illicit cigarette warehouses, traders, and manufacturers. This 636M raid in Cabanatuan City of an illicit cigarette factory shows our commitment to a fair and equal marketplace in our country. Expect more raids" Commissioner Lumagui stated. 


In a clear attempt to hide itself from detection by the BIR, the rest house that was used as a factory was situated behind a gasoline station. The BIR and the NBI had to enter two (2) separate gates from the gasoline station before reaching the factory. Inside the factory, they discovered illicit cigarettes, machines, fake tax stamps, raw tobacco and other materials used in  manufacturing of cigarettes. The place was also unsanitary because the raw tobacco being used in the manufacturing of the illicit cigarettes was merely placed on the floor where dirt and dust accumulated due to the unhygienic standards of the factory. 


The manufacturers of  illicit cigarettes that were raided in Cabanatuan City are now being investigated for violation of the National Internal Revenue Code (NIRC). This includes violation of Section 263. Unlawful Possession or Removal of Articles Subject to Excise Tax Without Payment of the Tax, Section 265-B. Violations Committed by Manufacturers, Importers, Indentors, and Wholesalers of Any Apparatus or Mechanical Contrivance Specially for the Manufacture of Articles Subject to Excise Tax and Importers, Indentors, Manufacturers or Sellers of Cigarette Paper in Bobbins, Cigarette Tipping Paper or Cigarette Filter Tips, Section 260. Unlawful Possession of Cigarette Paper in Bobbins or Rolls, Etc., Section 255. Failure to File Return, Supply Correct and Accurate Information, Pay Tax Withhold and Remit Tax and Refund Excess Taxes Withheld on Compensation, Section 254. Attempt to Evade or Defeat Tax, Section 145. Cigars and Cigarettes, and Section 236. Registration Requirements of the NIRC.

DepEd and Japanese Firm’s Partnership to Boost Public School Students’ Math Proficiency Nationwide


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In a major step to enhance math proficiency among public school students, the Department of Education (DepEd) has joined forces with Japan-based Sprix, Inc. to provide free access to the Test of Fundamental Skills (TOFAS) for learners nationwide. This partnership aims to support thousands of students in mastering essential math skills critical for their academic success.

The partnership was formalized with a Memorandum of Agreement (MOA) signing ceremony held at the Bulwagan ng Karunungan in DepEd. Education Secretary Sonny Angara was joined by Hiroyuki Tsuneishi, President and Representative Director of Sprix Ltd.; Leo Shoji, Lead Development Officer of Sprix Ltd.’s Global Strategy Division; and Algrace Avancena, Chief Representative of Sprix Co. Ltd. – Philippines.

“Strengthening our students’ math skills is essential,” Secretary Angara emphasized. “With TOFAS, we have a targeted tool that identifies math proficiencies and areas for growth, and we are confident this will empower students across the country. Initial feedback from our regional directors has been overwhelmingly positive, and we’re eager to expand its use to more learners.”

TOFAS allows teachers to assess students’ calculation and problem-solving skills accurately, providing valuable data to tailor instruction according to each student’s needs. By highlighting strengths and pinpointing areas needing improvement, TOFAS also fosters better communication among teachers, students, and parents, creating a support system that encourages motivation and academic progress.

Beyond academic benefits, TOFAS also promotes student well-being by offering teachers and parents clear insights into each learner’s mathematical journey, paving the way for enhanced engagement in mathematics and programming. "We’re thrilled to see TOFAS support students in the Philippines,” said Mr. Tsuneishi. “Our goal is to equip teachers with insights to better address the learning needs of every student.”

The initiative reflects DepEd’s commitment to elevating education quality across the Philippines, aligned with President Ferdinand Marcos Jr.’s vision of equal opportunities and resources for all Filipino learners.

The Advantages & Disadvantages of Finzilo


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Finzilo.com is gaining popularity because of the wide array of tools and features this online platform has to offer for both amateur and experienced traders. From margin trading to educational resources, it indeed aims to be a one-stop-shop for the needs of traders of all spectrums.

No online trading platform in the world gets it entirely right, and no platform is completely impeccable. The following is a comprehensive Finzilo review that will take an in-depth view at its pros and cons, strengths, and weaknesses.

Advantages of Finzilo Trading Platform:

✔️ Verierty of Markets & Diversification:

Finzilo provides access to the global market range of forex, cryptocurrency trading options, stock and commodities, and indices. The various classes of assets create very important investment diversification options for traders, consequentially lowering the risk levels while opening various markets to them.

Be it scalping and day trading on Forex or long-term investment portfolio management through stocks, Finzilo supports multiple styles of trading.

✔️ Account Types and Personalization:

Finzilo has five different account types that cater to various traders according to their experience levels. There is a Basic, Silver, Gold, Platinum, and VIP account. Each account level is specifically designed with personalized tools and features that give way to optional choices by a user as best to suit his needs and professional level of skills. With personalization of the trading accounts, both the novice and professional trader alike are assured of tools suitable for them.

✔️ User-Friendly Features for Beginners:

Finzilo has been developed in a way that is user-friendly for any amateur. Therefore, interfaces will be as easy as possible to use. The trading platform offers a trading tutorial for beginners and gives them detailed guidance about entering the market so that they are off to a flying start.

They allow users to gain insight into the trend in the financial markets and to learn how to employ various technical indicators and fundamental analysis tools in practical ways.

✔️ Sophisticated Trading Tools & Options:

Finzilo provides a whole bunch of professional trader tools, including the so-called Trading Signals and Alerts, with automated trading options pretty helpful for experienced traders. The technical indicators of this platform provide wide scope for deep analysis, while investment diversification options make it easy for traders to turn their strategies in tune with market changes. Furthermore, the advanced tools were tinkered with margin trading ability and customizable settings, allowing users to build complex strategies across a wide array of assets.

✔️ Secure Platform with Account Verification:

For Finzilo, security is a priority, and that can be viewed from the trading platform through SSL encryption to the account verification processes. Added features include two-factor authentication, and regular audits make Finzilo a potentially safe place for trading. This aspect of security helps those traders who view transparency and credibility as a critical element of the trading platform.

✔️ Super Fast Deposit and Withdrawal Options:

Finzilo provides deposit and withdrawal options for bank transfers, credit cards, and e-wallets, among others. This means traders have various options for decision-making regarding how to handle money flow. Such enhancement in the performance and pace of the platform enables fast deposits and speedy processing of withdrawals. Meanwhile, the small minimum deposit further opens up this platform to a great many users.

Cons of Finzilo Trading Platform:

❌ Limited Demo Account Features

Demo accounts are necessary for beginners to study features and the interface of the mobile trading application of the platform. However, Finzilo's demo environment may not include all functionalities compared with live trading, which could make it hard for a complete beginner to get the full experience of what this platform is capable of. This makes the expansion of demo account features reasonable for a better new-user experience.

Conclusion

In this Finzilo review, it becomes clear that there is a user-friendly environment with rich features embodies Finzilo's strengths while serving the needs for both novice and professional traders. It covers wide market variations, advanced trading tools, and highly secured trading from a wide platform for varied trading needs. Equally, the investment diversification options it offers, analysis of financial market trends, and supportive features like tutorials make it suitable for those seeking to develop and expand their trading knowledge.

However, limitations in the range of cryptocurrencies available, no 24/7 support, and limited demo features might not be exactly what every trader is looking for. Much as on any trading platform, it is important for a trader to consider his or her needs; particularly, it is important that new traders make use of the resources available at Finzilo to understand both investment risk and reward before diving into more complex tools like margin trading. It is a decent, secure, and supported trading option for most users, though Finzilo still has room for further improvement.


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