Robin Ross F.

Dalumpines
On January 25, 2020, our group was tasked to facilitate a seminar on TRAIN law and e-
BIR filing. The seminar was entitled “Be Equipped with Necessary Knowledge and Skills to Face
the Actual World of Business”. The lecture was focused on the new taxation laws and changes
from the old taxation system. The content of the seminar was very helpful, especially for us who
are undergoing our internship program. Our group invited speakers from the Bureau of Internal
Revenue to inform and help us be equipped with the right knowledge about the new taxation
system.
Although the seminar lectures were not as intensive as I had expected because of the
limited time, the speakers were able to discuss and point out the most important sections and
details of the TRAIN law. The knowledge gained from this seminar has most certainly equipped
students with the information they need to do their work at their respective HTEs with regard to
tax rates and tax filing. The seminar did not only equip us in terms of knowledge about taxation,
but it also taught us about legalities and requirements in putting up a business: from business
registration process, operations and business renewal. They also talked about penalties and
fines that businesses have to be wary about, since these penalties could take a lot of cash from
them, worse might cost them their whole business by revoking their license to operate. We also
learned how the new taxation system have affected government revenues and collections.
Because of the TRAIN system, the government suffered loss due to the lower tax rates.
However, in the long run, this will benefit the government because revenue collection has
become simpler and as a result, taxpayers will be encouraged to pay their taxes on time since
tax filing and computation is not as complicated anymore as compared to the old taxation
system. At the last part of the seminar, we were taught how to file taxes through e-BIR filing. I
think it is a more convenient way of filing taxes because you can prepare your taxes anywhere
as long as you have access to computer.
Overall, I believe that the seminar was a success. Students were able to learn from the
speakers and I personally, am excited to be able to put into practice all the learnings I have
gained from this event. It was a great opportunity for us to be able to equip ourselves with the
right knowledge to overcome real work challenges that lies ahead of us. We cannot just let
these theories and concepts we learned remain as it is, since this theories are useless unless
applied. Therefore, we will make use of it as soon as the opportunity presents itself.