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) What can you recommend to improve the tax system of the Philippines to make it more
convenient to the tax payers and to the government, especially on making payments?
Well, high income taxes could discourage firms from producing more goods and employees from
working more hours. Hence, a good tax system makes sure that income tax rates are not too high so as
to discourage economic activity.
2.) What do you think are the problems with our current tax system?
We have some of the highest income tax rates in the region compared to our ASEAN counterparts, our
corporate income tax is the highest 30% that turns off foreign investor, and our tax system is too
complicated.
As a businessman, tax is a very mandatory , paying taxes encourage businesses to become formally
registered and the economy to grow.
As an individual and a businessman taxes is a much priority. In conclusion, even though many people
think that they should not pay taxes, that money is useful to the stability of our county as it may affects
the country’s economy and services that it provides.
5.) Based on you experience does the tax improve our society?
Early preparation for filing helps avoid everything from documents issues to our accountant time
constraints.
7.) Do you think the corp. also received benefits from paying taxes ? how?
Profits can be left for further expansion of the business and this could have tax advantage for us.—(mao
ray gi answer niya..)