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    • Paul

      New Members: Click Here   03/09/2017

      Hello. If you are a new member, and feel a bit apprehensive about posting in the "open" forums, or, just wish to get your "sea legs" prior to posting in the open forums, feel free to post anything you wish to talk about, in the Newbies Forum. No one will bother you, or give you any sort of grief. Everyone there is happy to help you get answers to your questions.

HongKongPhooey

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  1. These silly requirements used to only apply to US persons due to FATCA but that is likely to change as more countries sign on to the Common Reporting Standards which are very similar to FATCA. "The Common Reporting Standard (CRS), developed in response to the G20 request and approved by the OECD Council on 15 July 2014, calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions." "The Standard for Automatic Exchange of Financial Account Information, developed by the OECD with G20 countries, represents the international consensus on automatic exchange of financial account information for tax purposes, on a reciprocal basis. Over 60 jurisdictions have committed to implementing the Standard and all financial centres have been called to match those commitments, as of July 2014." Our non-US friends will soon be able to experience the fun we have endured the last few years. The Philippines has not adopted the standards yet but probably will at some point. http://www.oecd.org/ctp/exchange-of-tax-information/standard-for-automatic-exchange-of-financial-account-information-for-tax-matters-9789264216525-en.htm
  2. Filing requirements are not related to employment but rather to income (i.e just because you haven't been working, doesn't mean you don't have reportable income). I am not going to jump to conclusions based on a few sentences posted. Maybe before you get into filing your taxes for the current and future years, you should look at what your obligations may have been in the past. You are not on the IRS's radar now, but once you start filing again, it may raise a red flag. I would start directly with the IRS guides available on-line rather than the third party opinions. Start with this one and work your way through it: https://www.irs.gov/pub/irs-pdf/p54.pdf If you think you may have a problem based on what you read, then you should really talk to a qualified US tax advisor. There are solutions out there but tax is a topic where generalities only go so far as everyone's individual circumstances are different.
  3. Last time I checked he actually is the democratically elected president of the US, the largest economy in the world in terms of nominal GDP. There is nothing pretend about that. I find Trump annoying and he acts like a rich douche most of the time; however, he is now my new hero only because almost everyone in the establishment and “in-crowd” (whether it be politics, journalism, entertainment, education, banking, finance, you name it) really hates him - and I’m Punk Rock like that.
  4. I admit it - Anyone else google "proprietor's list "?
  5. These photos are like hardware p*orn.
  6. Depends. If the gate of your connecting flight is at the North Satellite Concourse (gates 501-510), you need to move really fast because there is a shuttle bus that has to take you there. It adds about 15-20 minutes. Otherwise, HK airport is extremely efficient and if ticketed straight thru, and not significantly delayed, you should be able to get to your connection within that time, no problem.
  7. Not addressed to me but my thoughts are similar for this reason: There may be some justification for parents to choose circumcision for medical reasons, and would consider that decision as preventive medicine. I personally could not find enough evidence to justify the procedure on my newborn son; purely my opinion as a parent, I am not a physician. Someone else may look at the risks/rewards and make a different decision. I may not agree with their assessment in that case, but would not consider it as a barbaric or abusive under those circumstances. However, if a parent has the procedure done purely for cultural or religious reasons, then that’s just retarded.
  8. "After the victim was killed, Villegas said Sta. Isabel called a certain “Ding” who agreed to receive the body in exchange for P30,000 and a golf set." How did that conversation go? Ding: "I'll do it for P40,000" Sta. Isabel: "I got P25,000" Ding: "I won't do it for less than P35,000 and a set of steak knives" Sta. Isabel: "Okay, P30,000 and I'll throw in some golf clubs" Ding: "deal"
  9. by Yumi Teso and Y-Sing Liau January 19, 2017, 4:00 AM GMT+8 Asia’s worst-performing emerging-market currency in the past year is being tipped as the one likely to suffer least from the global slings and arrows of 2017. The Philippine peso, which weakened 4.2 percent in the past 12 months, is forecast to be the most resilient to external risks this year, according to a Bloomberg survey of 10 foreign-exchange analysts. The Thai baht and Indian rupee together rank second, while China’s yuan is last. “External factors won’t impact the peso much because the nation doesn’t largely depend on trade, especially with China or the U.S.,” said Tsutomu Soma, the general manager of the fixed-income department in Tokyo at SBI Securities Co. “China-dependent economies are likely to be hit the most by Trump policies as his eyes are more on China.” In the Jan. 5-12 questionnaire, participants were asked to rate Asian currencies by their likely vulnerability to seven external factors ranging from U.S. President-elect Donald Trump’s stated views on protectionism to the effect of oil-price swings and the prospect of an economic slowdown in China. https://www.bloomberg.com/news/articles/2017-01-18/asia-s-worst-emerging-currency-seen-most-resilient-in-2017-poll
  10. “Stefan Viktor Okonek, 71, and his companion, Herike Diesen, 55, were on their way back to Sabah in Malaysia after island-hopping in Mindanao when Abu Sayyaf snatched the couple from a speedboat. They were freed by their captors seven months after paying a 250 million Philippines pesos ($5 million) in ransom to the group.” I propose that Stefan and Herike should not be enjoying their freedom but rather spend the remainder of their lives in prison for funding terrorists. Any government, organization or individual that provides funding for ransom to these kidnappers and murderers should be subject to criminal prosecution as accessories to the crime. Additionally, they should also be exposed to litigation for monetary damages by current and future hostages and their families due to their negligent actions.
  11. Does he have JROTC at his high school? They usually offer JROTC leadership camps in the summer. I went two summers at Fort Leonardwood. Good experience without going overboard. Back then the DI's even gave us near beer and tins of skoal after barracks clean up. I'm pretty sure they can't get away with that now.
  12. Because oil is priced and traded in USD.
  13. I am on the fence about a condo purchase and have no strong opinions either way. I think it is a lifestyle choice. I am skeptical that it is a good investment for monetary return but, to me, it may be a good investment in my sanity and happiness. In addition to the prior posts listing the positive aspects, my main consideration is that I need a serenity zone to escape to. I need a place that has my stuff, the way I want it; a place people can’t just stop in whenever they want; a place where I don’t feel like I am camping at a music festival 24/7. You know, where I can get cleaned up, drink a beer in the air conditioning, cook up a pot of chili in a clean kitchen and feel like a normal person once in a while. Otherwise, it’s the constant flow of friends and relatives; people sleeping on floors; eating all the food; drinking all the beer – it’s non-stop. Don't get me wrong, I do enjoy the company and socializing and music festivals... just not all the time. Maybe I am being naive thinking that I could have some control over that but it would be easier to do so in a condo.