Sunday, December 03, 2006

Paying taxes in the Philippines

Paying taxes in the Philippines

It has been said that there are only two things certain in life. That is death and taxes. But in the Philippines, only the death part is certain. Most business or small business under decrlare their taxes or don't pay
taxes at all.

But why do business owners do this? Aside from increasing their bottom line, most do not pay their taxes simply because they feel that they are not getting the benefits for paying taxes. Most will probably end up lining the pockets of corrupt public officials and very few money actually end up for public service use.

People who are employed are the ones who end up paying the big chunk of the taxes collected because before they even get their salary, the taxes are already deducted from their pay unlike business owners who have time to under declare their taxes before they remit it to the bureau of internal revenue. More commonly known as BIR.

I certainly hope that the BIR cleans up their people who are bribed to help these business owners escape paying their correct taxes by paying them off to
under declare their sales there by lowering the taxes they need to pay.


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