Category: Business

What Happens To Your Shares When the Company Gets Delisted?

I had an opportunity to coach a relatively small group of OFW’s in Al Khobar, Saudi Arabia last Thursday, April 11, 2013 that included mostly of couples and their young children. It was an interesting session as questions thrown in were very challenging.

One of the questions asked by a participant was, “what happens to our shares when a company we’re buying becomes delisted from the PSEi”?

And then this morning, I read another similar question asked by a forum member to COL Financial advisor, Mike Viñas who was worried as to what will happen to her shares in a company that has been delisted by the PSE. She was not aware that the delisting has already happened. Continue reading What Happens To Your Shares When the Company Gets Delisted?

Is Lending Money for Profit Compliant with Sharia Finance?

One of biggest population of OFW’s are in the Middle East and other Islamic countries. That’s why our heroes should at least be familiar with Islam not only as a religion but as a way of life that embraces various social, economic, and political subjects.

Muslims live in accordance with the Islamic Law called sharia which is taken from Quran. Every detail and matters addressed by sharia is linked with different issues which means anything about money is related to religion, morals, politics, and culture.

Islamic finance, therefore, runs in accordance with sharia. Islamic finance is not new. It’s as old as Islam itself. It is similar to conventional financial systems as they also have banks, stock market, mutual funds, investment firms, and insurance companies but they are governed both by Islamic laws and by the existing conventional finance industry regulations.

The main concept of Islamic finance is the fact that Allah is the owner of all wealth in the world and the human beings are just entrusted with such. Continue reading Is Lending Money for Profit Compliant with Sharia Finance?

Are OFW’s Really Not Required to File Income Tax Returns?

April 15 has always been headache for me from my years of being a slave junior auditor in Deloitte up to the years burning my seat as an accounting & finance professional in various companies. The BIR (Bureau of Internal Revenue) and this horrendous date of the year have brought me either nightmares or sleepless nights. You should know what I mean.

Thank God I am now an OFW! I have somehow been freed from this April 15 curse. But am I really exempted from all these annual tax filing commotions?

The Revenue Regulation No. 1-2011 issued by the BIR defines that OFWs are exempt from paying income taxes for income earned abroad. However, the burden of proof is on the OFW’s themselves as they must show proof that they are registered as OCWs (overseas contract workers) or OFW’s with the Philippine Overseas Employment Administration (POEA) and have a valid Overseas Employment Certificate (OEC).

So fellow OFWs, don’t lose those OEC’s! Continue reading Are OFW’s Really Not Required to File Income Tax Returns?