birI remember paying over $500 in taxes each payday when we were still in Canada.  I know it’s a lot, but who’s complaining?  There, we have Parks and Recreations, Affordable Summer Programs, Unemployment Insurance, as well as FREE Quality Education and FREE Healthcare (The 2 biggies that if our government provides  here, would somehow alleviate poverty).  So, somehow, taxpayers there don’t mind being taxed that big amount each and every time, coz they get to enjoy their taxes!

But over here, we hear and see widespread graft and corruption in the government, and that’s what hurts.  We feel the burden of paying our taxes but we don’t see much the benefits of it.

B.I. R. actually stands for Bureau of Internal Revenue, not the title I came up with for this blog.  But the reason I wrote that was because of the email I just received from COL Financial Group today that tells of a new BIR regulation for all Withholding Agents (including COL) to “submit an alphabetical list of payees on income payments subject to creditable and final withholding taxes”.  The email reads:

Dear COL Financial Client,
On December 17, 2013, the Bureau of Internal Revenue (BIR) issued Revenue Regulations No. 1-2014 (RR 1-2014) requiring all withholding agents to submit an alphabetical list of payees on income payments subject to creditable and final withholding taxes. Among the information to be included in the alphabetical list is each payee’s tax identification number (TIN).
 
In compliance with RR 1-2014, please provide us your TIN by following the procedure below:
  1. Go to www.colfinancial.com and log in your account;
  2. Click on the ‘Home’ tab;
  3. Click on the ‘Change Profile’ tab; and
  4. Press the ‘Edit’ button beside TIN and encode your TIN. 
 In case you do not have an existing TIN, you may refer to the BIR’s website ( http://www.bir.gov.ph/reginfo/regtin.htm) on how to procure one. Self-employed individuals, mixed income earners, and employees may also procure their TIN through the BIR’s eRegistration System ( https://ereg.bir.gov.ph/ereg/welcome.do).
 
We hope to receive your TIN on or before 28 February 2014.  Thank you.
VTY,
COL  
UPDATE:  to download the guide in applying for TIN, pls. click HERE.
So, what this means is that it’s going to be a requirement now for all new applicants to write their T.I.N. on the app form.  We can’t leave this portion blank anymore.  Our government needs to get its share from all the income we receive from our stock investments.  There’s no escaping that.
FYI.
Thanks & God bless,
 

P.S. 1. COL Financial, Inc. is the recommended Stock Broker of Bro. Bo Sanchez to all his Truly Rich Club members.  The TrulyRichClub is a membership Club that he had created to help people achieve Financial Wealth and Spiritual Abundance. It is a private group of individuals who have decided to do something about changing their beliefs and thinking—to gain the abundance mentality they need to change their lives forever. Bro. Bo provides them with the right tools, principles, and strategies to grow in their financial and spiritual life.  


P.S. 2. Wanna join us at the ‘Happiest Place on Earth‘?  Listen to Bro. Bo preach every Sunday at the Feast PICC.   For Feast schedules in PICC and other areas around the metro, pls refer to the right side of Kerygma Family homepage.

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