Ever wonder if you should be paying for your online earnings? Checkout PinoyMoneyTalk.com and visit their forum about the topic to read how those people earning online feels about paying taxes.

The following are some texts I found from the site that seem to explain the legalities better. Not being a lawyer, I can't say they're conclusive. I just see them as a guide.

Just for the heck of it, we've put up our own Amazon Shop. We don't really expect people to buy from it but who cares. We didn't break a sweat setting it up. It contain everything that you can find in Amazon Store. We'll be putting a more tailored items to Ilonggos in the coming days.

And also a buy and sell module that will allow people registered here at MyIloilo.com to sell stuff. Why would we do that? For one, just a proof of concept on our side. For two, it's much easier for us Ilonggos to trade locally.

The Centennial Resort Hotel and Convention Center had their soft launch/opening last Saturday, December 16, 2006. I was not able to attend the opening night so I made my first visit last night. I really do not have much to say about the resort as of now since it was night time and they are not yet fully operational as of the moment. We were given a tour of the 4-hectare complex by one of their very accommodating staff.

The resort stands on where Marikudo resort in Alta Tierra was. Actually, Marikudo was retained along with the golf driving range. The swimming pool was moved. I can't actually remember every detail our guide said so I'm putting here what is in their brochure/flyers.

I was surprised to know that banks pay a measly 4% per annum on our time deposits. I can still remember those times when banks pay 4% per annum on savings deposits. These were before the advent of ATM machines. When ATM cards went vogue, banks set the interest rate on savings with ATM cards at around 1.5% per annum. Now, regular savings deposits, with or without the card are only paid 1.5% per annum.

If you'll try to consider the inflation rate, you're better off spending your money right away on things that'll give you instant satisfaction. Inflation just eats up whatever your time deposit earn, perhaps, even more.

Forbes Magazine Asian Edition named 40 richest filipino businessmen in it's Dec 25 issue. Topping the list are Henry Sy, Lucio Tan and Jaime Zobel de Ayala.

Sy, 82, owns 27 shopping malls in the Philippines and several others in China. He also owns Banco de Oro Universal Bank and has substantial shares in China Banking Corp. and Equitable PCI Bank. He also owns Highlands Prime Holdings, a high-end property developer.

Tan, 72, owns Philippine Airlines, the country’s flag carrier. His business interests include tobacco (Fortune Tobacco Corp.), beer and liquor (Asia Brewery Inc. and Tanduay Holdings Inc.), and banking (Philippine National Bank and Allied Banking Corp).

Planning to put up shop in Iloilo City? You might want to see how much the Iloilo City Government charges for business taxes and licenses. Depending on what you are planning to set up, the fees vary.

Retailers

• P400,000 or less: 2%
• P400 or more to Php 1M: 1%
• Exceeding Php 1M: 40% of 1%

Regulatory Fees for Retailers

• Sanitary Fee: Php 150.00
• Garbage Fee: Php 150.00 to Php 225.00