Filipinos are regaining an optimistic look at the business sector despite depictions of corruption in media, according to a new survey on business conducted by Social Weather Stations (SWS). In this survey, 40% of managers say access the Anti-Red Tape Act might have helped improve the access to public information in the last five years. The SWS survey had shown many enterprise managers find the annual renewal of local business permits and licenses is easier now compared to three years ago. According to 70 percent of enterprise managers in Metro Davao, 67 percent in Cagayan de Oro/Iligan City, 61 percent in Metro Cebu, 48 percent in CALABA, and 47 percent in Metro Manila, they are also having more ease with the filing of business permits.
However, a lot of work still needs to be done to improve tax collection. In the same study, results show that only one of five companies pay taxes honestly, while two out of three do not issue the proper receipts. “That is where we are worried. We must improve on our tax collection, and encourage tax payers, especially corporate taxpayers, to do their part,” said Deputy presidential spokesman Ricardo Saludo in an article published in Sunstar.com.ph. He also admitted that on the government’s part, tighter measures must be made to improve tax collection and address the problem of tax evasion.
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Philippine tax system: One step forward, two steps back? « Entrepreneurs Accounting Academy
[...] Philippine tax system: One step forward, two steps back? Filipinos are regaining an optimistic look at the business sector despite depictions of corruption in media, according to a new survey on business conducted by Social Weather Stations (SWS). In this survey, 40% of managers say access the Anti-Red Tape Act might have helped improve the access to public information in the last five years. The SWS survey had shown many enterprise managers find the annual renewal of local business permits and licenses is easier now compared to three years ago. According to 70 percent of enterprise managers in Metro Davao, 67 percent in Cagayan de Oro/Iligan City, 61 percent in Metro Cebu, 48 percent in CALABA, and 47 percent in Metro Manila, they are also having more ease with the filing of business permits…>Read More>>> [...]