Tax is the lifeblood of the government. It is also among the realities in life (even in death, as certain taxes apply after we die) that we can't escape from. Every Pinoy Entrepreneur doing business knows about taxes. Of course, we could try to "hide", whether through tax avoidance or tax evasion. Tax avoidance is perfectly legal, while tax evasion is a criminal offense. The imposition of criminal penalties, including imprisonment, shows the importance of tax collection. It also highlights the fact that so many taxpayers don't want to pay taxes. They have to be threatened with imprisonment to "encourage" them to pay taxes.

We've discussed GoNegosyo under the Blogroll and  Internet & Tech categories. We've also discussed the book in the previous post on Succcessful and Inspiring Filipino Entrepreurs. We've just realized, however, that we forgot to include a separate entry for this book under the Books category. This is a significant oversight because this is a book that should inspire budding Pinoy Entreneurs. This is also the original book that spawned the sequel: "Go Negosyo: Joey Concepcion’s 50 Inspiring Stories of Entepreneurs (Celebrity Edition)". I haven't read the sequel and probably won't read it in the near future.

We received this email from Dennis through the Contact Us section of this site: "Hi, this is such an informative site and I do learn a lot from your articles due to its simple and easy to understand explanation.  Hope you can discuss sometime about the tax amount to be paid in business, from single prop to corp., from those earning 50k a year to those earning 1M a year."

For whatever my opinion is worth, I recommend this book for Pinoy Entrepreneurs to read -- Blue Ocean Strategy (W. Chan Kim and Renee Mauborgne, Harvard Business School Press [2005], 240 pages), with the subtitle: "How to Create Uncontested Market Space and Make the Competition Irrelevant".

In today's trip to the grocery, my wife bought a Goolai salad pack. After around 3 years since I last worked in Makati, this is the first time I again encountered Goolai (produced by Gemmarc Foods, Inc./Agri-Growers Multi-Purpose Cooperative). I hate vegetables, then and until now, but I survived two weeks of purely Goolai lunch during that time.

The concept of a real estate mortgage is not new to Pinoy Entrepreneurs, as this is generally required by lending institutions to secure a loan or debt. Let's say the Pinoy Entrepreneur takes out a loan that is secured by a real estate mortgage (usually shortened to "REM") and, unfortunately, business is not doing well. The person who executes the real estate mortgage (known as the "mortgagor") can't pay the debt, the and so the mortgagee-creditor proceeds to foreclose the property. Anyone, including the debtor and the creditor, could make a bid during the foreclosure. Now, if the mortgagee-creditor makes a bid in excess of the debt, will the mortgagee-creditor be liable to pay the excess amount?

(Instead of creating a separate introduction for this useful resource, you could read the general introduction of WikiPilipinas through its About page, partly reproduced here.) WikiPilipinas is an online, free content encyclopedia on the Philippines. In addition to encyclopedic entries on history, culture, sports, politics, and other knowledge areas, WikiPilipinas also features the following components:

One of the steps in registering a company with the Securities and Exchange Commission (SEC), as discussed in a previous post ("How to Register a Corporation with the SEC"), is the verification and reservation of the proposed corporate name. This is done online, which means the process is convenient for the Pinoy Entrepreneurs who would want to register a corporation, a preferred form of business.