A wealthy businessman who does not want to be identified complained to Spy Bits about alleged Bureau of Internal Revenue snoops who have reportedly been taking photos of luxury cars – Porsches, BMWs, Jaguars, Ferraris, Audis and the like – parked inside Manila Golf, WackWack Golf, Manila Polo Club and other exclusive clubs frequented by the wealthy and famous. While the businessman agrees that the BIR must do its job and make sure everyone pays the right taxes, he said “snooping” is not the way to go because it is reminiscent of the old Martial Law days when Marcos agents went around sniffing for suspected critics.
If one can remember, President Noynoy Aquino was unjustly subjected to criticism when news came out about his purchase of a white Porsche. The businessman said he was one of those who supported PNoy then, believing that the President has every right to enjoy his money in his “bachelorhood.” Certainly, he didn’t see anything wrong with the President’s decision to purchase a luxury car as long as the right taxes are paid, the businessman added.
Luxury car dealers admitted that there has been a sharp drop in the luxury car market after the story about the alleged “BIR paparazzi” started going around, with businessmen worried in case “the taxman cometh” to question them about their opulent vehicles. Successful businessmen often reward themselves with brand new luxury vehicles that signify their status and serve as testament to all their hard work, but a number are already beginning to “downgrade” their car choices, afraid of unwanted publicity that could potentially make them vulnerable to kidnapping.
Meanwhile, property prices in Dasmariñas, Forbes, and other areas in Makati are starting to drop. The last known “high profile” purchase was that of Sarangani Rep. Manny Pacquiao who bought a mansion in Cambridge Circle for P388 million. Pacquiao is the richest legislator in Congress. In any case, we are told that interest has been waning for overpriced houses for sale in the exclusive enclaves, with some 28 properties reportedly out in the market for several months now with no takers.
Less corruption, more business
The recent SWS survey that showed seven out of 10 businessmen perceive government corruption to have lessened during the watch of President Noy is another good indication that the Aquino government’s anti-corruption initiatives are starting to resonate. Foreign businessmen who come here with plans to invest will be encouraged at the good image that is starting to get projected, with the SWS survey noting improvements in the ratings of several government agencies perceived as susceptible to corrupt practices. Aside from the survey, the country’s improved ranking in the World Economic Forum’s Global Competitiveness Report – with two consecutive 10-place jumps in the last two years – is another indication of the growing positive perception from the international business community.
We are told a number of young Spanish entrepreneurs have of late been setting up businesses in the Philippines. Not surprising at all since the Spanish economy continues to be in the doldrums, aggravated by calls for separatism and independence by Catalonian leaders who blame Madrid for the continuing crisis in their country. No doubt these young Spaniards have found plenty of encouraging signs for businesses here considering the Philippines and Spain’s shared culture, heritage and history.
Atrium appeal
Minority owners of Atrium condominium in Makati are appealing to Vice President Jejomar Binay to help resolve the issue surrounding the old building. Last year, several employees of Pag-IBIG/Home Development Mutual Fund, with Vice President Binay as chairman, abandoned their offices reportedly due to tremors that shook the top floor of the building.
The incident prompted an inspection by the Department of Public Works and Highways that noted cracks on beams and girders, but otherwise found the 30-year-old building to be free from major structural damages. In the same report, the DPWH said occupancy may still be allowed, although the age of the structure warranted further evaluation and testing, with retrofitting recommended to make sure of the building’s integrity in case of a major earthquake.
However, the refusal of Pag-IBIG/HDMF – which owns 52 percent of the building – to follow recommendations for retrofitting might compel the local government of Makati to revoke the building and occupancy permits of Atrium due to safety concerns – to the disadvantage of the minority unit owners. As advised by a legal luminary, the best solution to the impasse would be for all parties concerned to seek mediation instead of engaging in a lengthy legal battle – something that concerned unit owners are seeking from the vice president. In case future plans would involve construction of a new condominium building, the current minority owners should be allowed to have their own units, some legal experts strongly suggested.
PDEA situation worrisome
The corruption allegations of dismissed PDEA (Philippine Drug Enforcement Agency) deputy chief for operations Carlos Gadapan is worrisome for US Drug Enforcement agents because the drug problem in the country is growing – something that the International Narcotics Control Board (INCB) noted in a recent report. According to the INCB, an independent monitoring body affiliated with the UN, illegal drug use particularly of shabu is increasing, with drug trafficking in heroin and cocaine also on the rise.
Government needs to take a serious look at the situation in PDEA since drug money is known to be used in financing terrorist activities and related crimes. If the agency that’s supposed to lead the fight against the drug problem is beset by internal squabbles and corruption allegations at the top, then how do we expect to fight crime in the country?
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Email: spybits08@yahoo.com