Business & Economics Perspective Blogger

There's a need for taxes. However, there's such a thing as  being overtaxed.  I would like to talk about that, as a taxpayer, the rule is  ridiculous . Ralph Recto's proposal may not be for the best, as some may think. As I think about it, the  National Bureau of Economic Research   also gives this thought: Fisman and Wei were interested in fleshing out a widely-held notion -- that higher tax rates will encourage greater evasion - with a study that could assess the magnitude of the effect . So they decided to examine detailed statistics on a range of goods exported from Hong Kong to China, paying specific attention to the value and quantity reported by Hong Kong versus what was reported by China. For those 1990s children in the Philippines, why do you think that buying pirated video games was the thing? It's because the original copies are that expensive . Why do you think pirated DVD sales are hard to combat? It's because the original DVDs cost much more. May I...

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...