Taxes and Fees when Buying Property in the Philippines

When buying and selling real estate properties in the Philippines, the final purchase price is not and should not only be the relevant amount.

Other taxes and fees charged on the transaction must be considered by both the buyer and seller because these costs affect the total transaction price.

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Ads Zens, Visioner 2020, Reyality Investment: Ponzi scams?

With most Filipino victims in the Visayas and Mindanao still reeling from the impact of the large-scale Aman Futures Group investment scam, the Securities and Exchange Commission (SEC) recently stepped up and forewarned the public against investing in three companies which appear to have makings of a possible Ponzi scheme.

Last month, the SEC issued a notice to the public that Ads Zens Broker Corp., Visioner2020 International Traders Inc., and Reyality Investment Corp. appear to be “high-yield, high-risk investment which may turn out as a fraudulent scheme.”

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'No Classes' announcement – August 9 and 10, 2012

AuManila flood August 2012Several schools, colleges, and universities within and outside Metro Manila have already announced that classes have been suspended on August 9, 2012 (Thursday) and August 10, 2012 (Friday).
On August 9, some schools — including Claret School in Quezon City, Xavier School in Greenhills, San Juan, and De La Salle University in Taft, Manila — already said that there will be no more classes this week and will resume on Monday, August 13.

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BMS Bank declares bank holiday

Several PMT Forum members have shared that they received a message from the staff of BMS Bank that the bank is currently on a bank holiday. I personally tried calling the Pasig main branch and two other branches to confirm the news but my calls went unanswered.

If this is true, BMS Bank will be added to the growing list of Philippine banks that have been closed or gone bankrupt. (See PDIC closes 9 more rural banks and Guide for Legacy depositors: How to claim money from PDIC)

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Typhoon Ondoy: Pictures, videos

Manila, Philippines — Tropical storm Ondoy (International Name: Ketsana) hit Luzon and parts of Metro Manila on Saturday, September 26 and brought flood, jammed traffic, landslides, and deaths.
Waist-deep flood waters caused cars to stall in the middle of highways. People walked due to lack of public transport and impassable traffic. Residents were forced to stay on the rooftops of their houses due to submerged first- or second-floors. The National Disaster Coordinating Council (NDCC) reported 240 deaths as of Tuesday, September 29. Many more are missing.
Here are some pics and videos we gathered online showing the impact of typhoon Ondoy in the Philippines.
See also: Bagyong Ondoy lashes the Philippines (PICTURES)

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BPI Call Center undermanned or plain lazy?

Almost a week after I posted my BPI Trade password problem, I still have not solved it because it looks like no one’s around at the BPI Call Center.

On October 9, I made a gazillion calls to BPI’s customer support number 89-100 or 891-0000 but the only response I got was “All circuits are busy now. Please try again later.”

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BPI Express Phone: All circuits are busy now

Early this morning, I got locked out of my Bank of the Philippine Islands (BPI) Trading account after I incorrectly entered my password three times. Apparently, I had forgotten that I changed my password a few days ago.

Around 10 in the morning, I called BPI’s Customer Phone Support at 89-100 or 891-0000 to help me reset my password. What greeted me was the pre-recorded message, “Sorry, all circuits are busy now. Please try again later.”

Ok, fine, I’ll try again in 10 minutes.

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