DTI, DOF Explain TRAIN Package 2 to Japanese Investors

In efforts to enhance trade and investment relations between the Philippines (PH) and Japan (JP), Department of Trade and Industry (DTI) Secretary Ramon Lopez together with officials of the Department of Finance (DOF) addressed the issues and clarified the concerns raised by Japanese investors on the Tax Reform Acceleration and Inclusion (TRAIN) Package 2, which rationalizes tax incentives to investments.

“We would like to highlight the aspects of TRAIN Package 2 that would benefit new and existing investors. While Japan is our number one source of investments, there are still a large number of Japanese investors who have not located in the Philippines. The TRAIN Package 2 provides us with the mechanisms both to encourage existing investors to further expand their business, and to attract new investors into the country,” said Sec. Lopez.     

During the discussion, Japanese investors expressed their concerns on the new tax incentives for new and existing investors as well as the preferential corporate income tax.

According to Lopez, the proposed legislation is not meant to remove incentives, but in fact recognizes the important role of incentives and the need to make them more responsive, relevant and effective, i.e. they should conform to the principles of being performance-based, time-bound, focused, and transparent. 

Board of Investments (BOI) Managing Head and DTI Undersecretary Ceferino Rodolfo explained further that the second tax reform package will in fact provide better incentives.

“First, investors will no longer be limited to just the Income Tax Holiday (ITH) and the 5% tax on Gross Income Earned (GIE)—but will now be able to choose other incentives that may be more relevant, including long enough Net Operating Loss Carry-over, accelerated depreciation, and double-deduction of certain expenses critical to upgrading competitiveness such as R&D, training, and others,” said Usec. Rodolfo.

“Equally important, the TRAIN Package will remove the nationality bias as well as the export bias of incentives. This means that as long as an activity is listed under the Strategic Investments Priorities Plan (SIPP), this will be eligible for incentives regardless of citizenship of owners or the markets they will serve. For Japanese companies, they can receive incentives even if they will sell to the domestic market,” Usec. Rodolfo added.

Meanwhile, DOF Director Juvy Danofrata noted the concerns of investors on the sunset provisions for existing tax incentives. Danofrata said, “While transition mechanisms will be provided including replacing the 5% GIE with a reduced 15% corporate net income tax, we are open to suggestions on how we can design better transitions, as long as these will comply with the basic principles of being time-bound, performance-based, focused, and transparent.”

The discussion was part of the agenda of the 10th Philippine-Japan Economic Partnership Agreement (PJEPA) Sub-Committee on the Improvement of Business Environment (SC-IBE) Meeting on 22 March co-chaired by Sec. Lopez and Japanese Ambassador Koji Haneda. Officials from the Philippine Board of Investments, Philippine Contractors Accreditation Board, Construction Industry Authority of the Philippines, National Economic Development Authority,  Philippine Economic Zone Authority, Bangko Sentral ng Pilipinas, Department of Public Works and Highways, Department of Finance, Department of Labor and Employment, Manila International Airport Authority, Metro Manila Development Authority, Bureau of Internal Revenue, and Subic Bay Metropolitan Authority were also present during the meeting. 

ColorManila Conquers Laoag Sand Dunes with its Sold Out CM Paradise Run

ColorManila, the country’s number one fun-run organizer, conquered Laoag’s Sand Dunes in Ilocos Norte, with its sold out CM Paradise Run, which took place last weekend.

The event was held in cooperation with Ilocos Norte’s 1st District Senior Board Member Ria Fariñas, who is a known fitness buff.

Prior to the sold-out event, Farinas was quoted as saying, “Thrilled that this is finally happening in Ilocos! Mark your calendars and start training with your family & friends for Colormanila’s Paradise Run at the Laoag Sand Dunes!”

ColorManila VP Justine Cordero says, “This is the first time that we brought ColorManila to Laoag, and we are very happy that this has become successful, we are also thankful to our local government unit partners.  We are looking forward to doing more events here in Laoag.”

The CM Paradise Run - Laoag leg, gave the runners an early feel of a summer escape to the beach or to paradise, with the various color stations adorned with palm trees, hammocks and garlands, which only served as a perfect backdrop to their selfies with friends and family.

After the race, thousands of runners got to experience the freshest and newest mixes of the DJ’s at ColorManila’s trade mark CM Color Festival, where color powder was thrown in the air as the participants danced and grooved to the music of DJ’s on stage.

Atty. Karen Jimeno was one of those seen enjoying the run, and also on stage during the CM Color Festival.

ColorManila’s next Paradise Run will be held in Laguna on April 8, 2018, which will be held at Greenfield, its official venue partner.

It will have three (3) race distances, 3K, 5K and 10K.  As for the kits, runners for both events can choose from the Deluxe Kit, Rockstar Kit and the Superstar Kit.

The Deluxe Kit, which is priced at P750, comes with a dri-fit shirt, sunglasses, race bib, color packet and a finisher’s medal.

While the Rockstar Kit, priced at P1,050, comes with a dri-fit shirt, sunglasses, race bib, color packet, finisher’s medal, drawstring bag and headwear.

Finally, the Superstar Kit, priced at P1,500, comes with a dri-fit shirt, sunglasses, race bib, color packet, finisher’s medal, drawstring bag, headwear and a finisher’s singlet.

ColorManila will also have its CM Glitter Run in Dagupan, co-presented by CSI Mall on April 8, 2018.  Dagupan is also one of ColorManila’s biggest markets, with one of its events having a sold-out event with 3,000 runners previously.

It will have three (3) race distances as well, 3k, 5K and 10K, with 3 race kits to choose from, Deluxe, Rockstar and Superstar Kit.

The Deluxe Kit, priced at P950, comes with a drifit shirt, race bib, color packet,  and a finisher’s medal.

The Rockstar Kit, priced at P1,500, comes with a drifit shirt, race bib, sunglasses, drawstring bag, headwear, color packet and a finisher’s medal.

While CM Glitter Run’s Superstar Kit, priced at P1,850, comes with a drifit shirt, race bib, sunglasses, two (2) drawstring bags, headwear, color packet, finisher’s medal and a foldable water bottle.

Registration is still ongoing for both the CM Paradise Run - Laguna leg and the CM Glitter Run Dagupan.  For more information, visit www.colormanila.com.

***

ABOUT COLORMANILA:


ColorManila encourages everyone to run, and to illustrate to non-runners how enjoyable the sport is, we bring out the real fun in the ‘fun’ run, through a color festival.  We are the paintbrushes, and You are the Paint. We carry the palette but You make your own Strokes. You become the human canvas, as we literally bring out your most energetic and happiest hue.
You are the Color, the human Canvas. You are the bits and pieces of this kaleidoscope. Because life is not a competition. Rather, it is a race where you run at your own pace, where you throw high-fives to people, where you carry all the colors of your experiences. We make this as the most exciting fun run ever, that you’d want to do it over and over again. We want to give you that unique kaleidoscope experience every time!
Visit www.colormanila.com for more information.

BIBIANO FERNANDES OUTLASTS MARTIN NGUYEN TO RETAIN ONE BANTAMWEIGHT WORLD CHAMPIONSHIP

In a gruelling five-round title tiff, reigning ONE Bantamweight World Champion Bibiano “The Flash” Fernandes of Brazil turned in a gutsy performance, overcoming a spirited effort from ONE Featherweight & Lightweight World Champion Martin “The Situ-Asian” Nguyen of Sydney, Australia to win via razor-thin split decision. The action was electric all throughout the bout, with both men having their moments. Although Nguyen landed the harder, more telling blows, Fernandes was the busier ma and performed slightly better overall with his takedowns and accurate combinations. In the final frame, Fernandes pulled away just slightly, outworking Nguyen over the last five minutes of the contest. In the end, the Brazilian did just enough to retain his title in front of a packed Impact Arena crowd. The victory cemented Fernandes’ claim as the best in the world at bantamweight, earning him a record eight title defenses to remain the most dominant ONE world champion in history.

Bibiano Fernandes, ONE Bantamweight World Champion, stated: “I said I would win, and I did. I really live for these challenges. I’m the champion, and I’m here to stay. I’m the best bantamweight in the world. I’ve proven it many times. Bangkok, Thailand -- thank you for having me.”

In the co-main event of the evening, Jeremy “The Jaguar” Miado of the Philippines overcame insurmountable odds, knocking out former world champion Dejdamrong Sor Amnuaysirichoke in the first round. In a wild exchange of punches, Miado clipped Amnuaysirichoke with a thunderous right cross, sending the Thai hometown hero crashing to the canvas as the referee waved off the contest immediately.

Shannon “OneShin” Wiratchai of Thailand authored one of the most dominant performances of the night, reinserting his name into the winner’s column with a quick knockout victory over Singapore-based Indian martial artist Rahul Raju. Wiratchai only needed 21 seconds to shut the lights out on Raju, landing a hard right hook to clinch the scintillating knockout. With his impressive conquest of Raju, Wiratchai earned the GoDaddy Knockout of the Night.

In a clash of talented female atomweights, Angelie Sabanal of the Philippines captured a hard-earned victory, routing Thai rising star Rika Ishige via unanimous decision in her ONE Championship debut. Sabanal and Ishige kept the action focused primarily at the center of the ONE Championship cage for the majority of the bout. The Filipina newcomer showcased her pinpoint accurate striking early on, peppering Ishige with stinging kicks and stiff punches. Although Ishige boldly traded strikes with the Filipina kickboxer from bell to bell, the latter pulled away in the final round, landing the more telling blows. In the end, Sabanal earned the undivided nod from the three judges at cageside.

23-year-old Saygid Guseyn Arslanaliev reignited his meteoric rise through the ranks, defeating seasoned Japanese veteran Tetsuya Yamada by submission. Both men started out aggressively, but it was Arslanaliev who showed a more capable set of both striking and grappling skills throughout the three-round lightweight match. As Yamada avoided trading strikes in the stand-up, Arslanaliev spun a web of crafty grappling on the ground to overwhelm the Japanese veteran. Driven to score a finish, Arslanaliev was able to get the submission in the third round, making Yamada tap from a wrenching belly-down armbar.

Pakistani martial artist Waqar Umar made an astounding statement in his return to the ONE Championship cage after nearly two years of absence, submitting Chinese prospect Zhao Zhi Kang in the first round of their featherweight clash. With a game plan to take matters to the ground, Umar got the job done by fastening a rear-naked choke to force the tap from Zhao.

American submission wizard Garry “The Lion Killer” Tonon impressed in his highly-anticipated ONE Championship debut, toppling Filipino lightweight Richard Corminal in his maiden assignment wearing four-ounce gloves on the premier martial arts stage. The Brazilian jiu-jitsu superstar put forth a dominant striking performance, unveiling a new dimension to his evolving skill set by putting together dynamic combinations. In an offensive clinic against his Filipino counterpart, Tonon overwhelmed Corminal with punishing strikes from the get-go, blasting his opponent with rocking right hands and cracking kicks. In the second round, Tonon took matters to the ground and quickly got mount, finishing Corminal with a pair of elbows.

Kritsada “Dream Man” Kongsrichai made quick work of the Philippines’ Robin Catalan to continue his winning ways inside the ONE Championship cage. Opening up the contest by taking the action right to Catalan, Kongsrichai pounced on his Filipino opponent with a series of powerful strikes, including solid knees from the clinch. As he pushed Catalan constantly back up against the cage, Kongsrichai wrapped his arms around his foe’s midsection and took him for a ride with a belly-to-back suplex. Catalan was deemed unable to continue when he landed on the mat, forcing the referee to wave it off and declare Kongsrichai as the victor by way of stoppage.

Multiple-time kickboxing world champion Alain “The Panther” Ngalani placed himself back on the winning track by edging out promotional newcomer Ariunbold Tur-Ochir of Mongolia via split decision. Both men gave fans a spirited effort over three rounds, which featured a healthy stream of action from both corners. After a gruelling contest, it was Ngalani who walked out with his hand raised in triumph.

Gilberto Galvao of Brazil spoiled the much-awaited return of Jake Butler to competition, defeating the decorated American wrestler by technical knockout in the second round. Galvao finished the job in the opening sequence of the contest’s second frame, checking a low kick from Butler with a hard knee. As Butler dropped to the canvas, he held onto his leg and hit the ground writhing in pain, the referee stepped in and called a halt to the bout, awarding the victory to Galvao.

A three-round bantamweight encounter served as the curtain-raiser for ONE: IRON WILL as “The Terminator” Sunoto battled it out with Malaysian standout Hisyam Samsudin. Leaning on his impeccable grappling, Sunoto burned out his opponent, consistently bringing Samsudin to the canvas and controlling the action with crisp ground strikes. With a dominant top game, Sunoto notched his second consecutive victory in 2018, defeating Samsudin as all three judges saw the bout in favor of the Indonesian to win by unanimous decision.

Official results for ONE: IRON WILL

ONE Bantamweight World Championship bout: Bibiano Fernandes defeats Martin Nguyen by Split Decision (SD) after 3 rounds

Strawweight bout: Jeremy Miado defeats Dejdamrong Sor Amnuaysirichoke by Knockout (KO) at 1:29 minutes of round 1

Lightweight bout: Shannon Wiratchai defeats Rahul Raju by Knockout (KO) at 0:21 minutes of round 1

Women’s atomweight bout: Angelie Sabanal defeats Rika Ishige by Unanimous Decision (UD)

Lightweight bout: Saygid Guseyn Arslanaliev defeats Tetsuya Yamada by Submission (Armbar) at 2:51 minutes of round 3

Featherweight bout: Waqar Umar defeats Zhao Zhi Kang by Submission (Rear Naked Choke) at 4:21 minutes of round 1

Lightweight bout: Garry Tonon defeats Richard Corminal by TKO (Strikes) at 3:40 minutes of round 2

Strawweight bout: Kritsada Kongsrichai defeats Robin Catalan by TKO (Slam) at 1:40 minutes of round 1

Light Heavyweight bout: Alain Ngalani defeats Ariunbold Tur-Ochir by Split Decision (SD) after 3 rounds

Middleweight bout: Gilberto Galvao defeats Jake Butler by TKO (Strikes) at 0:07 minutes of round 2

Bantamweight bout: Sunoto defeats Hisyam Samsudin by Unanimous Decision (UD) after 3 rounds

In case you missed the action log on to www.onefc.com/livestream for the full replay of the fights at only US $9.99.

For more updates on ONE Championship, please visit www.onefc.com, follow us on Twitter and Instagram @ONEChampionship, and like us on Facebook at https://www.facebook.com/ONEChampionship.

About ONE Championship™

ONE Championship is the largest global sports media property in Asian history. Headquartered in Singapore, ONE Championship is the home of martial arts and is the world's largest martial arts organization, hosting bouts across all styles of martial arts such as Muay Thai, Kickboxing, Karate, Kung Fu, Silat, Sanda, Lethwei, Mixed Martial Arts, Tae Kwon Do, Submission Grappling, and more. The world’s most exciting martial arts organization hosts the largest sports entertainment events across Asia, featuring some of the world's best martial artists and world champions, all signed to exclusive contracts, on the largest media broadcast in Asia. In addition to its digital platforms, ONE Championship broadcasts to over 1.7-billion potential viewers across 136 countries around the world with some of the largest global broadcasters, including Fox Sports, ABS-CBN, Astro, ClaroSports, Bandsports, Startimes, Premier Sports, Thairath TV, Skynet, Mediacorp, OSN, and more.