The last major earthquake originating from the fault was recorded in 1658 or 357 years ago.The San Andreas Fault System with recurrence intervalNow I am now discussing the relationship of the rare sea creatures found around the Philippines and how it indicates that The Big One is coming.Among the animals, the most difficult to ignore are the According to traditional Japanese lore, the fish rise to the surface and beach themselves to warn of an impending earthquake – and there are scientific theories that bottom-dwelling fish may very well be susceptible to movements in seismic fault lines and act in uncharacteristic ways in advance of an earthquake. Get the latest KPMG thought leadership directly to your individual personalized dashboard The ‘Big One’ earthquake will surely be much worse on Metro Manila where the population is so densely packed and the infrastructure is so weak. 365 likes. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. Almost a week before the month of April ended, Central Luzon was struck by a 6.1-magnitude earthquake. The last major earthquake generated by this fault was in 1658 or 357 years ago. Accountants, auditors, and tax consultants, from small entities to big multinational corporations, all rush to meet the deadline to file the annual Income Tax Returns (“ITR”) and pay the concomitant annual income tax while, at the same time, scrambling to prepare and finalize all the reports necessary for submission. The 6.1 quake last April 22, 2019 that originated in Zambales and was felt throughout Luzon produced a lot of terrifying videos and posts on social media. {{ vm.siteSelectorList.flyout.cell1.global.countryLocale }} Subscribe to our Facebook Page, Youtube Channel and this Website. In the end, the CTA denied the taxpayer’s claim for refund.It is often said that information is power. Also, the CTA disagrees with the taxpayer’s argument that the BIR has no relevant issuances providing alternative procedures in the filing of filing and payment of annual ITR. Will you ever be ready if a so-called “Big One” strikes? We want to ensure that you are kept up to date with any changes and as such would ask that you take a moment to review the changes. We should never forget of the “old ways” and be capable of doing things manually, if need be. Manabat & Co., a Philippine partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. Since the last time you logged in our privacy statement has been updated. While scientifically the basis is that it’s theoretically possible because when an earthquake occurs there can be a build-up of pressure in the rocks which can lead to electrostatic charges that cause electrically-charged ions to be released into the water.Now I just showed you History and Science facts that proves the validity that there is indeed a devastating earthquake that is about to happen. The Big One, San Jose City, Nueva Ecija, Philippines. The Philippines, which is situated at the Pacific Ring of Fire, has faced a frequent number of earthquakes and tsunamis over the years. One of the creatures which was found in Dinagat Islands got the attention of many because of it’s weird appearance on the pictures circulating online.Unidentified creature later found out as Whale or BalyenaNow the big question is with the facts I showed you above why is it indicate that we are getting closer and closer to The Big One? Our goal is to find stories and ways to inspire Filipinos to work harder in achieving their dreams. 5-2002, as amended. Our country is home to numerous active faults and several trenches. Not that I want it to happen but we can’t stop it anyway right? Share you dream with us. The CTA explained that, the BIR, through RMC No. Further, the CTA also ruled that as early as April 2002, the BIR already stated that taxpayers shall manually file their returns in case the eFPS is not available during due dates – citing Revenue Memorandum Order (RMO) No. It has a recurrence interval of 400 to 500 years. Our privacy policy has been updated since the last time you logged in Find out how KPMG's expertise can help you and your company.

A 2004 … All rights reserved.KPMG International Cooperative (“KPMG International”) is a Swiss entity. In such cases, can a taxpayer be held liable for payment of surcharge and penalties in case of late filing and payment of an annual ITR due to system downtime, glitch or unavailability of the BIR eFPS?On 08 April 2019, the Special Second Division of the Court of Tax Appeals (“CTA”) provided an answer. The earthquakes in the past few weeks have rattled many, and renewed an intermittently discussed question: is the mother of all tremors about to come?

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