Citystate Savings Bank celebrates 26th anniversary

THE Citystate Savings Bank Inc. (PSE: CSB) celebrated its 26th anniversary on August 8, 2023, at the Citystate Centre in Pasig City. The event was led by Chairman and CEO D. Edgard A. Cabangon, who was joined by members of the Board of Directors, President Jaime Valentin L. Araneta, executive officers, along with employees and friends.

The celebration started with a Thanksgiving Mass officiated by Rev. Fr. Rufino “Jun” Sescon. A simple program followed, with Araneta sharing the significance of 26 as a hallmark year.

Chairman and CEO D. Edgard A. Cabangon expressed his appreciation to all who played a significant role in CSB’s journey. In a short message, he said: “As we celebrate our 26th anniversary, we are reminded of the support and trust that our valued customers and partners have bestowed upon us. Our journey would not have been possible without the dedication and hard work of our exceptional team. We are committed to continuing to provide reliable financial services that contribute to the growth of our clients and the communities we serve.”

Cabangon added: “My father, Amb. Antonio L. Cabangon-Chua, was not only a founder but also a

By Butch Fernandez @butchfBM

SENATOR Grace L. Poe prodded the Bureau of Internal Revenue (BIR) to coordinate with the Philippine Gaming Corp. (Pagcor) and collect unpaid tax dues amounting to P2.2 billion from the Philippine Offshore Gaming Operator (Pogo) reported to have closed shop. The lawmaker lamented that apart from reported dodging tax guiding light for us. As we continue his legacy, we are inspired to reach even greater heights, always guided by the principles he instilled in us.”

Looking ahead, CSB has plans for expansion. The Bangko Sentral ng Pilipinas (BSP) has granted CSB approval to establish four branchlite units in strategic locations, including Naga City in Camarines obligations, the Pogo was linked to troublemakers.

Poe pressed the BIR to coordinate with Pagcor and make every effort to collect the dues from the POGO firm “that just closed shop and disappeared.”

“Hindi lang sila nagdadala ng gulo, nagnanakaw pa sa kaban ng bayan,” the lawmaker lamented. [They are not only causing trouble, they are also stealing from the public coffers.]

Sur, Baguio City, Cabanatuan in Nueva Ecija and San Fernando City in Pampanga, adding to its existing network of 30 branches nationwide. This expansion will provide even greater accessibility and convenience to clients in key locations across the country. This move reflects the bank’s commitment to enhancing its presence and service offerings to better cater to

Last week, police authorities reported to have recovered 28,000 registered SIM cards at a P O GO facility in Pasay City allegedly involved in online scams. Senator Sherwin T. Gatchalian said last August 9 that the confiscation of registered SIM cards indicates that POGOs are heavily entrenched in online scams, possibly victimizing hapless individuals both here and abroad.

According to a report from the Philippine National Police (PNP), a total of 4,355 individuals fell victim to POGO-related crimes from January 2017 to June 30 of this year, involving 903 perpetrators.

The crimes documented in the report include human trafficking, forcible abduction, homicide, illegal detention, kidnap-for-ransom, theft, robbery-extortion, serious physical injuries, swindling, and grave coercion, among others. Chinese nationals, or a total of 793, account for the majority of the suspects involved in these crimes, Gatchalian said, citing PNP data.

Poe stressed that if the Pogo that closed shop and disappeared “is a legitimate company, in the first place, then regulators should have a way

THE House Committee on Ways and Means on Tuesday approved the proposed Magna Carta of Taxpayers.

The committee, chaired by Albay Rep. Ma. Jose Clemente “Joey” S. Salceda, approved an unnumbered substitute bill providing for the bill of rights and obligations of taxpayers.

According to Salceda, the bill mandates the State to provide increased protection of taxpayers’ rights in complying their to pay national and local taxes to the government, to the end that abuses committed against taxpayers are prevented, if not completely eradicated and taxes are collected responsibly.

In turn, he said taxpayers are expected to faithfully comply with their tax obligations to the government.

“This is a leap towards empowering citizens with clear rights and responsibilities in our tax system,” he said.

Under the bill, a taxpayer has the right; to be informed; to fair, uniform and faithful application of laws; to challenge the position of and be heard by revenue authorities; to fair and impartial proceedings before the revenue authorities; to present evidence and witnesses; to be assisted or represented by a qualified professional of their choice; to timely and expeditious completion and finality of tax audits; against baseless assessment; to be given an opportunity for amicable settlement; to avail of installment payment; to pay no more than the correct amount of tax; to relief from paying interests, surcharges and penalties; to recover actual costs and actual damages arising from judicial actions; to quality service and assistance; to privacy; and, to confidentiality.

Likewise, the bill said a taxpayer has the following obligations: to comply with tax laws; to truthfully and timely disclose information; to lodge and submit required documents completely and on time; to keep and make tax records available for examination; to cooperate with revenue authorities in tax audit; and, to timely pay taxes.

The bill also provides penalties for violations of the bill of rights of taxpayers.

The bill said that notwithstanding the administrative remedies provided in several laws and codes, any person or revenue officer who is found to have violated Section 5 (“Taxpayer’s Basic Rights”) of this proposal shall be punished with imprisonment of not less than six months nor more than six years, or a fine of not less than P100,000.00 but not more than P1.5 million, or both.

The measure also mandates all public and private higher education institutions to integrate the “Taxpayer’s Bill of Rights and Obligations” as part of the curriculum.