BAR 2011: TAX QUICK INDEX

Posted: April 3, 2011 in FREE FIRE

Belle Corporation vs. CIR
G.R. No. 181298
January 10, 2011

Section 76 of the 1997 NIRC reads:

Section 76. Final Adjustment Return. – Every corporation liable to tax under Section 24 shall file a final adjustment return covering the total net income for the preceding calendar or fiscal year. If the sum of the quarterly tax payments made during the said taxable year is not equal to the total tax due on the entire taxable net income of that year the corporation shall either:

(a) Pay the excess tax still due; or

(b) Be refunded the excess amount paid, as the case may be.

In case the corporation is entitled to a refund of the excess estimated quarterly income taxes paid, the refundable amount shown on its final adjustment return may be credited against the estimated quarterly income tax liabilities for the taxable quarters of the succeeding taxable years. Once the option to carry over and apply the excess quarterly income tax against income tax due for the taxable quarters of the succeeding taxable years has been made, such option shall be considered irrevocable for that taxable period and no application for tax refund or issuance of a tax credit certificate shall be allowed therefor.

Under the new law, in case of overpayment of income taxes, the remedies are still the same; and the availment of one remedy still precludes the other. But unlike Section 69 of the old NIRC, the carry-over of excess income tax payments is no longer limited to the succeeding taxable year. Unutilized excess income tax payments may now be carried over to the succeeding taxable years until fully utilized. In addition, the option to carry-over excess income tax payments is now irrevocable. Hence, unutilized excess income tax payments may no longer be refunded.

To repeat, under the new law, once the option to carry-over excess income tax payments to the succeeding years has been made, it becomes irrevocable. Thus, applications for refund of the unutilized excess income tax payments may no longer be allowed.

I don’t remember when exactly I was formally introduced to music. But I remember pretty well that I grew up listening to a staple of good 60s music — oldies but goldies — which my parents, uncles and aunts put alternately on their repective audio cassette tape players. My Aunt Azon preferred listening mostly to The Platters and The Beatles. She listened to other 60s stuff, I guess, but she preferred those two groups over the others. I wonder why she didn’t listen to The Monkees and The Zombies. Beats me.

My mother had the biggest influence on my tastes in music early on. At first, I just preferred listening to whatever she played. She had a huge collection of albums. I remember listening to the likes of Timi Yuro, Jim Reeves, Engelbert Humperdinck, Connie Francis, Tom Jones, Elvis Presley, Eddie Peregrina, among many others. Then there came a time when my mother allowed me to play whatever I wanted to listen to. However, all we had in the house were those I mentioned. So I had to make do with what we had. I had fun listening to Stupid Cupid by Connie Francis, Blue Suede Shoes by Elvis, and It’s Not Unusual by Tom Jones.

My father listened to almost everything that was available in the early 80s. Although he had this strange liking for Scorpions.

In the sixth grade, Uncle Pidiong, the erstwhile janitor in the office where my mom worked dropped by at the house one fateful day sometime in 1985. He caught me listening to Tom Jones or to Jim Reeves. I can’t remember, though. He was laughing at me. He told me that I was wasting my time listening to 60s music. I took offense, albeit silently. But then he promised to lend me some of his cassette tapes, and in order for me, according to him, to improve my taste in music. A few days after, I grew tired waiting for him to drop by. He reneged on his promise. I decided to visit him one weekend. He made lame excuses for reneging on his promise. But I got what I wanted. He lent me the albums of Black Sabbath, Led Zeppelin, Rainbow, Foreigner, AC/DC, Styx and Pink Floyd. I was blown away by Paranoid from Black Sabbath. I was blown away even more by War Pigs and Sweet Leaf.

I realized that there was indeed after all other available music for my listening pleasure aside from my mother’s 60s collection. Oh well, I still listened to my mom’s tapes. But I grew increasingly partial to 70s music. At twelve years old, I already had an arsenal of diverse music and heroes. It was pure bliss listening to Black Dog and Stairway to Heaven by Led Zeppelin, Dirty White Boy by Foreigner, You Shook Me All Night Long and Whole Lotta Rosie by AC/DC, Man On The Silver Mountain by Rainbow, Babe and The Best Of Times by Styx, and, Comfortably Numb by Pink Floyd.

When I returned the tapes to Uncle Pidiong after a few weeks, he lent me other rock albums from Deep Purple, Judas Priest, Uriah Heep, Bachman-Turner Overdrive, Santana, Boston, Kansas, among countless others.

In my first year in high school, mushy stuff dominated the airwaves, next only to dance music. Everybody was into disco and sad love songs. It seemed like everybody was into emo long before emo permeated the music scene. Back when emo as a state of mind was cool. Everybody was listening to the hordes of 80s acts ranging from Menudo, Shakatak, Madonna, Cyndi Lauper, to Laura Branigan.

As a freshman, I adored dance music. I learned how to breakdance, do the strut and execute a clean headspin. I dreamed of being a dancer at the time, instead of being a rockstar. Discovering the music of the Beastie Boys was the highlight of my ephemeral dance delusions. But up to now, the songs of the Beastie Boys dominate my Windows Media Player playlist. Their songs are saved in the Beastie Boys playlist and in the Favorites playlist.

Everything was dance, break beats, and disco for me. Until –

In my junior year, a cousin of mine who spent long summer vacations in Manila came back home around mid-June and made me listen to recordings he made. Actually, these were bootlegs that he recorded from other cassette tapes and from radio stations (NU 107 and XB 102) that played new music called new wave. However short-lived it was for these brave stations to play music that really mattered back in the day, according to him, he captured almost everything of the remnants of the new wave phenomenon that swept Manila through the tapes he brought home with him. I was stoked. I thought only Menudo and Madonna could create good music at the time. I was hooked to new wave instantly. I was listening nonstop to Bolshoi, The Adventures, The Alarm, Aztec Camera, Big Country, The Human League, Icicle Works, Icehouse, Information Society, Joy Division, The Lotus Eaters, Madness, Men Without Hats, New Order, Tears for Fears, Violent Femmes, The Wild Swans, etc.

It was in my junior year that I discovered that in the 70s, there was another wave of musicians who were playing really cool music. I discovered The Clash, Sex Pistols, and those other punk bands. I came to understand that all the hip music that I may have adored early on came to these shores kind of late. It was a pity that I never listened to music as the scene was just getting hot and noticed. In hindsight, it didn’t matter anymore, though. I was getting loads and loads of beautiful and intelligent music at such a young age.

From my senior year in high school up to college, I was already devouring all genres of music. I discovered the music of The Jesus and Mary Chain, Eraserheads, The Stone Roses, Ned’s Atomic Dustbin, The Wonderstuff, Metallica, Megadeth, Anthrax, The Youth, Queensryche, Nirvana, Pearl Jam, Alice in Chains, Chevelle, Rage Against The Machine, Deftones, Korn, among many others. I also rediscovered music I missed out on, ranging from the 60s to the present.

I don’t know how well I have survived were it not for music. Whatever feeling I was experiencing then, I had music to see me through. Playing in the background during the best times of my life were music from either The Clash or Enya. Lately, I discovered Suzanne Ciani’s music. I was dumbfounded when I discovered that Ciani has been making sound effects since the 70s and new age music since the 80s.

I have already listened maybe to all types of music, or genres, or whatever one may call it. But I will never get tired looking for other sounds I may have failed to listen to. But rock and roll, in its generic sense, will always be at the top of my list. I will listen to rock and roll forever.

NBA CARDS GONE DIRT CHEAP

Posted: March 11, 2011 in FREE FIRE

The best place to score NBA cards (collectors’ items all; a handful are PSA- and Beckett-certified) is at Anime Eztazion starting March 14, 2011.

Anime Eztazion is that ultra-cool toy cum comics store located at the 2nd Floor of Metrowalk in Ortigas, Pasig City.

In a conversation with Jun, the shop owner, earlier today, he intimated that he intends to sell his mint condition NBA cards. He said he’s going to sell both cheap and pricey cards, all collectors’ items, but with a twist. These will be available in packs consisting of 5 to 10 cards. Jun will probably call his deal-buster bags as BLIND GRAB PACKS. He’ll start with 30 packs next week, initially. Included in these five- or ten-card packs are regular or base cards. Then he’ll also include maybe rookie AND jersey cards.

The best deal here is he will randomly put in there 2 guaranteed Kobe Rookie Cards. Premium cards. Pricey. As for the packaging of the cards, each will be individually placed in a penny sleeve (to avoid fingerprint marks), then into a top loader (to avoid dings or dents), then finally into a team bag (to make it dust-proof). Each pack will cost roughly 200 pesos.

See y’all there!

ANIME EZTAZION ROCKS!

Posted: March 7, 2011 in FREE FIRE

After going over the blog of mekanda on bargain toys and where to get them, I readily checked out one store he blogged about. It’s Anime Eztazion at Metrowalk, Ortigas, Pasig City. Cool store. Cool items. Cool location. Probably the best toy store in town. The man who was manning the store, Jun, was very accommodating. Rummaging through his wonderful merchandise was like going through your bestfriend’s toy collection. He was very helpful, too.

I was amazed by his merchandise. He has a large collection of everything anime.

I bought, for starters, four (4) action figures. One is a five-inch Shrek. Jun sold it to me at half the price at reasons only known to us. Hahaha

Second, I got a two-inch Puss ‘N Boots (that cunning cat from Shrek).

Third, I had a four-inch Neytiri (the exotic Nav’i from Avatar).

Lastly, I picked a four-inch pirate which looks like Captain Hook. I’m not sure if that’s him. But what the hell…? Hahaha

I couldn’t help but smile and then chortle like a child with my stash in my black plastic bag while I was on my way back to the office.

I told Jun that I may start to pick up the anime hobby. I told him I’d start with small items — action figures, comics, etc.

Anime Eztazion has a wide array of anime collection, such as but not limited to toys, comics, stickers and posters.

I recommend the store to everyone. I give the store a five-star rating!

What’s the best spot along Padre Faura Street in Manila? I bet you would not pick what I have in mind.

The best spot occupies only around 3 sq. m. with no signboards or anything to identify it as a commercial establishment.

It’s a mobile book cum DVD store — the most mobile store there is. The store is manned by at least 2 guys. Their merchandise are spread on cheap rugs and boxes. But their book and dvd collection is far from cheap. It’s amazing! Those guys really know well their merchandise and their market. They have a stash of books whose authors include Harper Lee, Ernest Hemingway, Og Mandino, Dante, Ayn Rand and classic DVDs ranging from Woodstock concerts to Academy Award-winning movies.

The prices are reasonable and you may give those guys your wish list of book and DVD titles. Give them a few days and, voila!

I bought from them, for starters, Shōgun by James Clavell and To Kill A Mockingbird by Harper Lee.

I’ve searched everywhere but it’s only at Padre Faura where I found those books.

“Scars remind us where we’ve been. But they don’t have to dictate where we’re going”. These were the words of a character in the hit US TV series Criminal Minds (Season 5). They captured my full attention right away so much so that I didn’t have to wait for the episode’s ending credits to appear onscreen. I put on hold watching the next episode to write something about those words. I had to write in an instant, lest words screaming to be put in writing escape me forever.

We all have scars. But some are gone forever. But for a time they were there to remind us how we got them. How much we suffered when we got them. Those brief, fleeting moments when we had those scars could still send shivers down our spine when the memory of the pain, or the pain itself manifesting in some form, comes at any moment when we are vulnerable to anything. You can just imagine how hard it is coping with the reminders that came with those scars.

There are also scars that will be there with us forever. They will always remind us where we’ve been. These are the scars that we must be accustomed to. Scars that we must have to live with, to put it bluntly.

A few days ago, I was wounded. I accidentally kicked a bottle of soda that had been lying around in my living room for quite a while. It stood just below my couch. As I was trying to avoid the shards, I stepped on a big piece of the broken glasses. My foot had two gaping wounds. I was a bleeder. It gave me quite a scare.

Long before I had been wounded, I was already thinking about throwing the soda bottle away. But I was using it as an ashtray. It served a purpose. I am a utilitarian. When a thing may still prove to be useful and I bought it cheap or it was given to me for free, I will not throw it away. But because of that, I spent a few hundred bucks for medicines and tetanus vaccines. So much for trying to be a utilitarian.

I have regrets now. Lots of ‘em, actually. The accidents may, in hindsight, have been avoided. As of this writing, the wound is still fresh. But it’s healing fast. Thanks to a government doctor for prescribing life-saving medication. The doctor said he had a friend before who didn’t take care of his wounds just like mine. His friend has long ago met his Maker.

We may avoid scars if we learn to anticipate what may happen. Let’s face it. Accidents may be avoided, or its damage, minimized. Avoiding clumsiness is one effective deterrent. And getting rid of procrastination is another. But if we can’t avoid accidents, we must learn how to transcend the pain that go with them. And hope that the wounds will heal fast.

But, there’s a very big but, scars don’t have to dictate where we are going. Crazy as it may sound, let’s just be thankful for having those scars because they will help us avoid further disaster that may have been avoided in the first place.

There are hundreds of great bands but my personal favorites are the following:

1. The Stone Roses

2. The Smiths/Morrissey

3. Delays

4. Nirvana

5. Beastie Boys

6. The Jesus and Mary Chain

7. Ned’s Atomic Dustbin

8. Jesus Jones

9. Ramones

10. Beatles