Thinking of buying a Condo for your Child ?

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Condo PHPMANILA, Philippines – Buying a property in your child's name is a great idea for a gift, but it may cause a lot of complications involving donor's tax. The Bureau of Internal Revenue defines donor’s tax as a tax on a donation or gift, and is imposed on the free transfer of property between two or more persons who are living at the time of the transfer. If a parent pays for a condominium unit under an underage child’s name, then it will fall under a donation. “Normally, what the government looks for is,

2 People killed in Albay Bus Accident

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bus accidentLEGAZPI CITY, PHILIPPINES Two children died and 35 others were injured when an out-of-control bus rolled down a slope along the highway in Kimantong, Daraga in Albay on Sunday. The fatalities were identified as Baby Jane Abrigo, 12, and a still unidentified boy around 11 years old, according to Superintendent Joel Adan, chief of Daraga Municipal Police Station.

Clark Airport upgrading

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clark-airportThe terminal will boost the Clark airport's passenger capacity to up to 16 million per year from the current 4 million. The Clark International Airport Corporation (CIAC) is set to present to the National Economic and Development Authority-Investment Coordination Committee (NEDA-ICC) its proposed P7.2-billion low-cost carrier terminal in the international airport in Pampanga. CIAC will present the master plan and feasibility study for the terminal prepared by Aeroports de Paris of France in August, Department of Transportation and Communications (DOTC) Secretary Joseph Emilio Abaya said Monday, July 21.

Cebu Pacific to continue flying to USA / Europe

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Cebu PacificMANILA, Philippines – The European Union (EU) formally announced Thursday the lifting of the air ban on Cebu Pacific Airlines to Europe. Dr. Julian Vassallo, Charge d’ Affaires of the EU Delegation to the Philippines, said in a press conference Thursday that the ban was being lifted because of improved airline security and safety. “The decision of the European Commission to lift the ban on Cebu Pacific shows the ability of Philippine authorities and business to work with the EU to raise standards and create economic opportunity,” Julian Vassallo, Chargé d’affaires at the Delegation of the EU to the Philippines, said.

PAL starts twice a day flight to Haneda (Japan) on March 30

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PALBEGINNING March 30, 2014, the country’s flag carrier Philippine Airlines [PAL] will be flying to Haneda twice a day to complement its thrice a day service to Narita and provide better options and convenience for travelers to and from Japan. Also known as Tokyo International Airport, PAL said Haneda is one of the two premier airports servicing the Greater Tokyo area and is considered the world’s most slot-restrictive airport and a prime business hub. “It becomes PAL’s fifth gateway to Japan following Narita, Fukuoka, Osaka and Nagoya, making the flag carrier the biggest Philippine operator to and from Japan with 47 flights a week. PAL currently operates 21 weekly flights to Narita, five times a week to Fukuoka, seven to Nagoya and seven to Osaka,” the airline company said.