Royale Business Club International Incorporated, a Philippines-based multi-level marketing (MLM) organization, has been slapped with tax evasion charges by the Bureau of Internal Revenue (BIR) worth P359.75 million ($8.13 million).
Royale is a domestic corporation that markets and distributes food supplements, cosmetics, pharmaceutical products, and beverages.
The BIR said the company under-declared its annual income tax returns (ITR) and quarterly value added tax (VAT) from 2011 to 2013, as defined under sections 254 and 255 of the National Internal Revenue Code of 1997 as amended (tax code).
Also charged for the same violations were its officers: Royale president Julius Allan Nolasco; vice president for finance/treasurer Isa Angela C. Bautista; assistant treasurer Jeanette Maghirang; assistant treasurer Imelda Pedron; and assistant accounting manager Marjorie Molina.
Based on access letters released by the Bank of the Philippine Islands (BPI),
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DSAP: Understanding pyramid scams in the Philippines
by Ramya Chandrasekaran • • 0 Comments
About 4 million Filipinos are in direct selling. They have dreamt of being entrepreneurs but do not have the capital. Some have found financial and personal freedom, while others have become victims of pyramiding scams.
The Direct Selling Association of the Philippines (DSAP) shares answers to frequently asked questions about pyramiding companies and those that are legitimate and with sustainable compensation plans.
Question: Using layman’s terms, what is pyramiding and what’s the main difference between legitimate multilevel marketing (MLM) and pyramiding?
Max VP for Asia Joey Sarmiento: Network marketing, or MLM, is a legitimate mode of business wherein products are sold via person-to-person selling instead of the traditional way of selling from a fixed retail location. The objective is to sell products to the end-consumers.
The difference between MLM and direct selling is in the commission
Hot Business News Today
DSAP: Understanding pyramid scams in the Philippines
by Ramya Chandrasekaran • • 0 Comments
About 4 million Filipinos are in direct selling. They have dreamt of being entrepreneurs but do not have the capital. Some have found financial and personal freedom, while others have become victims of pyramiding scams.
The Direct Selling Association of the Philippines (DSAP) shares answers to frequently asked questions about pyramiding companies and those that are legitimate and with sustainable compensation plans.
Question: Using layman’s terms, what is pyramiding and what’s the main difference between legitimate multilevel marketing (MLM) and pyramiding?
Max VP for Asia Joey Sarmiento: Network marketing, or MLM, is a legitimate mode of business wherein products are sold via person-to-person selling instead of the traditional way of selling from a fixed retail location. The objective is to sell products to the end-consumers.
The difference between MLM and direct selling is in the commission
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Edmark Opens Branch in Zimbabwe
by Ramya Chandrasekaran • • 0 Comments
Edmark Group of Companies, a multi-million dollar Malaysian MLM company with a market presence in over 25 countries, officially opened a branch in Harare at a colourful ceremony at the weekend attended by hundreds of people involved in multi-level marketing of its various products.
The company boasts itself as the only multi-level marketing company in the Philippines with its own six-storey building worth $8M in the middle of Quezon City’s business hub.
To date, Edmark’s multi-level marketing business caters to its distributors through its extensive number of branches and 22 franchise centres across the Philippines.
In 2004, the company’s multi-level marketing arm ventured into international expansion starting off with its first branch in downtown Dubai, United Arab Emirates. In 2008, Edmark brought the MLM business to Accra, Ghana in Africa. Nigeria followed suit on the
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4Life Announces Philippines Office Expansion
by Nicole Dunkley • • 0 Comments
4Life Philippines recently held a ribbon-cutting for the expansion of its Manila office. The new business center and training space is located on the 16th floor of the office’s current building. More than 1,000 attendees gathered at the San Miguel Properties Centre in Mandaluyong City for the event.
The occasion included a ribbon-cutting ceremony, executive remarks by Vice President, International Steve Apple and 4Life Philippines General Manager Eileen Tan-Dario, and the product launch of Fibre System Plus™.
Top distributor leaders in attendance included Gold International Diamond Manuel Koh and numerous International Diamonds.
4Life opened the Philippines in 2005. The new office space reflects the growth of independent distributor businesses throughout the country.
Eileen Tan: “4Life is committed to supporting distributors as they work to achieve their goals and realize their dreams. The success of our business builders is our executive team’s primary responsibility and pride.”
About 4Life
In 1998, 4Life Founders David and Bianca Lisonbee launched the company’s flagship immune system support product, 4Life Transfer Factor. As the first network marketing company to do so, 4Life’s leading group of doctors, scientists, and researchers continue to advance immune system science with innovations in product formulation, production standards, delivery methods, and more. Today, people in more than 50