SUZUKI ROLLS OUT ALTO K10: THE COMPACT AND PRACTICAL CHOICE

Japanese compact car and motorcycle manufacturer Suzuki Philippines, Incorporated (SPH) rolls out another version of one of its most popular and fastest-selling compact car—the Suzuki Alto K10.

Perfect for people who are seeking power, performance and attitude in their car, the new Suzuki Alto K10 now comes packed with the K10B, 1.0 liter, DOHC 12-valve gasoline engine with direct ignition and timing chain, the same engine found in Suzuki’s well-accepted Celerio model.

“The Suzuki Alto, which we first introduced in 2007, is still one of our most popular cars primarily because of its fuel efficiency and unparalleled value for money. Globally, we have sold more than 10 million units of this model and in the Philippines, it remains to be the car of choice for many first time car buyers and corporations,” says Arvie Fugoso, Assistant Marketing Manager for the Automobile Sales and Marketing Division of Suzuki Philippines Inc.

“We are optimistic that with the introduction of this latest model, we will be strengthening our presence in the first time owner markets –be it the small families, the students and the young professionals,” Fugoso added.

Aside from the K10B engine, the new Suzuki Alto K10 comes with a 5speed manual transmission, electronic power steering (EPS), front power windows, power door locks, AM/FM CD, MP3 audio system with aux port, full wheel caps, seat belts for all passengers and an engine immobilizer system.  Alto K10 also has a 3-years/100k warranty.

For his part, Mr. Shuzo Hoshikura, General Manager of the Automobile Sales & Marketing Division added, “We at Suzuki are very confident that the new Alto is an outstanding addition to an already impressive lineup of compact cars Suzuki has offered for decades.”

The Suzuki Alto K10 retails at Php 439,000 and comes in Silky Silver, Dazzling Red and Sunlight Copper Metallic.

About Suzuki Philippines, Inc

Suzuki Philippines, Inc is a Japanese multinational firm highly recognized in the vehicle manufacturing industry. The company specializes in producing and distributing distinguished models of motorcycles and as well as in the distribution of compact vehicles.

Suzuki has established its reputation worldwide for quality, versatility and innovation and has created a heritage of trust and reliability.

PRESS RELEASE:

Media Contacts:

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Christine Sarmiento-Tria 0928.5524759/0928.8898921

Pao Goze 09164773784

TAX DIALOGUE ON BENCHMARKING to tackle the issues of “HUGE TAX GAP AND THE LOW TAX EFFORT RATIO” OF THE COUNTRY

Yesterday, I had attended a seminar or tax dialogue conducted by the Bureau of Internal Revenue (BIR) headed by Mr. Ricardo B. Espiritu, Revenue Disctrict Officer at 7th Floor Conference Room, Revenue Region No. 8 Makati Regional Office Building, No. 313 Sen. Gil Puyat Ave., Makati City.

The event was attended by authorized representatives of companies with different nature of business within the jurisdiction of RDO. 50 South Makati as invited by the BIR . The BIR thru its Benchmarking Program is embarking on a Massive Tax Information Drive among taxpayers across industries to tackle the issues of “Huge Tax Gap and the Low Tax Effort Ratio” of the country. Tax Effort Ratio (TER) = Actual Collection (AC) / Gross Domestic Product (GDP) x 100%. They are encouraging the taxpayers to participate for improvement in the area of voluntary tax compliance. This system is used the measurement of tax compliance which is not new in the government agency.

The speaker of the event, Mr. Ricardo Espiritu said that the Benchmarking Program is a measure of tax compliance among taxpayers of different industries and to increase revenue collections. He informed that the present administration in the Country has no plan to increase tax rates but instead to increase tax measurement of compliance among the taxpayers. He believes that this system will help the BIR to detect tax fixers or leakages and improve collections particularly on Value-Added Taxes (VAT) and Income Tax.

Averages will be used as benchmarks for a particular industry. Taxpayers who will fall below the median or standard set by the BIR will be considered as high risk taxpayers. In fact, they will also identify the auditor of that company and could be considered as a high risk auditor. This program will particularly used to large taxpayers or big companies notified by the BIR who believes the possibility of a high tax collections compared to small businesses.

This system still has issues that will be considered . What if one of the company is declaring an unusual high revenues compared to other companies who really declaring right taxes? We need to understand the fact that each companies has different backgrounds in terms of consumption, sales, collections, clients, number of manpower and other related matters.

Anyways, the speakers in the said event informed that the average or median method is not absolute but they believe and has power of being prima facie correct. For those taxpayers who will fall below the standard will be issued a Benchmarking Letter Notice. Such taxpayers will be given a chance to amend their tax returns or if not they can respond the notice by showing proof to rebut findings of the BIR.

The directors also informed that those who will amend their tax returns will not be issued Letter of Authority to investigate the Books of Accounts of taxpayers fall below the benchmarking. Just in any case one of the taxpayers will avail  of it will  not be charged of any increments, interest and penalties, anymore.

After the seminar, a certificate of attendance were given to the attendees. I  asked one of the officer in the bureau a  soft copy materials related to the tax dialogue in the event but unsuccessful. Although she informed me that it will be available in their website www.bir.gov.ph of these days of the Benchmarking Program Campaign.

Hopefully, both of the taxpayers and its agency will participate the program for the benefit of common people and progress of the nation.