WASHINGTON, DC — Salve Duplito and Mon Abrea, two well-known experts on finances, investing and taxes from the Philippines spoke May 21 in a webinar hosted by the Department of Trade and Industry’s Philippine Trade and Investment Centers (DTrI-PTIC) with the Philippine Embassy and Consulates General in the US.
Over 150 participants, which included Nicanor Bautista of PTIC-New York, logged in to watch Tips for our Kababayans in the U.S. on Investing and Entrepreneurship in the Philippines, live-streamed on the Embassy’s Facebook page. It is the first in a series of Trabaho, Negosyo, Kabuhayan (TNK) webinars aimed at encouraging Overseas Filipino Investors (OFI) and Filipino Americans to invest in the Philippines.
Duplito, a financial and economic literary advocate, and financial advisor for more than a decade, spoke about investing and avoiding scams prying on Filipinos overseas.
She is a TV Anchor, Managing Editor, and Head Writer at the ABS-CBS News Channel since 2018 and a resident financial adviser of ANC’s On the Money, a daily show on personal finance.
“There is a great need for financial literacy in this country, but people don’t want to hear these lessons from someone who is going to peddle a product or a technical guy who says, ‘one fourth of one percent.’ My job is to translate these concepts into real doable actions, and tell the story of those who have blundered and those who have succeeded, so that ordinary people will know what to do with their finances,” she once wrote in her blog. “We need a culture of revolution that will make people who are thrifty, cool.”
Recently, in her Facebook page, she wrote: “I think scammers are a million times more evil now, when people are dying and companies are floundering, incomes are plunging and more than 100M may fall into poverty around the world. … If you don’t understand the investment being sold to you, no matter how high the ‘guaranteed returns” just walk away. I would do it while flipping my hair.”
Following Duplito was Mon Abrea, the chairman and senior tax advisor of the Asian Consulting Group (ACG). He spoke about tax reforms in the Philippine tax system such as the possible lowering of corporate income taxes, general tax amnesty, and advice on double taxation and how it applies to overseas Filipinos and Filipino American dual citizens.
A former Bureau of Internal Revenue examiner, Abrea is considered the most prominent advocate of genuine tax reform.
Abrea’s latest book, Iwas Buwis-it: What to Do When Tax Attacks, was launched last year. The book introduces readers to the world of taxation and gives them an overview of taxes they need to pay based on their career as well as handy tips to handle taxes.
As the founding chairman of ACG, the first tax hub for small and medium-sized enterprises (SMEs), and founding president of the Center for Strategic Reforms of the Philippines, Inc. (CSR Philippines), Abrea aims to help educate the Filipino people about the tax system so they can become responsible taxpayers.
He believes that “if we can get educated properly about taxes, “we won’t be afraid of it anymore.” With his drive and dedication to educating Filipinos both locally and abroad and detailed knowledge of the Philippine Tax System, it is no wonder that Abrea is known as “The Philippine Tax Whiz.”
Before the webinar started, Jose Manuel “Babe” Romualdez, Philippine Ambassador to the United States, urged kababayans to take the advantage of the current shelter-at-home orders in the US to “learn more about the various business opportunities available to them in the Philippines, and to develop their entrepreneurial skills in these uncertain times.”
The next TNK webinars will be on Philippine Entrepreneurship in the New Economy with Jonathan Petalver, and Franchise Investment Opportunities in the Philippines hosted by the Philippine Franchise Association, to be held on 28 May 2020 and 04 June 2020, respectively.
Registration details for the upcoming webinars will soon be available on the official websites and social media pages of the Philippine Embassy and Consulates General in the United States.