Shaun T. Dy's Business & Economics Perspective Blog

The picture above is from the official Facebook page of the Bureau of Internal Revenue (BIR). I would be thinking about myself not questioning it. But as said, any democracy requires a critical mind to correct any flaws from the authorities. One of the issues I had in the past was the need to renew the Authority to Print (ATP) every five years. It's not like expired canned goods that wouldn't be validated. I have no problem with cash registers that need to be registered with the BIR. Cash registers, after all, produce the receipts which is the basis for the taxable income. Bookkeepers will need to take a look at the receipts, and write down the income for the month, businesses will end up paying value-added tax (VAT) if they reach a certain amount, and there are times that income taxes have to be increased or decreased depending on the situation. I think I could pose a number of problems with the five-years expiry date after the pandemic had struck. It's time to name the fo