Laguna food processors, shoes, bag makers get orientation from tax expert
Members and officers of the Association of Laguna Food Processors (ALAFOP) and the Association of Shoes and Bags Makers and Retailers Inc. on Monday received tax orientation from a renowned expert in taxation at the city hall conference hub here.
Mon Abrea, a certified public accountant (CPA), president and chief strategy officer of Abrea Consulting Group, discussed the salient features of the current taxation system that many people are not yet aware of.
Abrea said this lack of tax information results in non-payment of correct taxes.
The orientation also covered discussions on the proposed tax reform bill in coordination with the Center for Strategic Reforms (CSR) of the Philippines, tapped by the Department of Finance for the tax reforms awareness.
"We have many taxpayers who are confused and instead of encouraging people to engage in business or to register, they become afraid of the BIR (Bureau of Internal Revenue),” Abrea assessed.
He also explained that the proposed tax reform bill is made simpler besides lowering the tax rate that would greatly help taxpayers.
Abrea also expressed optimism the tax reform bill will be passed at the House of Representatives by the end of March and endorsed to Senate and will be implemented by July this year.
In an interview with Philippine News Agency (PNA), Clarke S. Nebrao, chairman and president of ALAFOP and owner of Terravida Natural Ventures, said that the association fully supports the BIR initiatives and confirmed that its 58 members are 100 percent compliant with tax rules and regulations.
"Paying the right taxes means growth not only of our businesses but also for our government,” he explained.
Johanna M. Aquino, president of the 51-members strong Association of Shoes and Bags Makers and Retailers Inc. in Biñan City expressed appreciation to the BIR and DOF for the new learnings and taxation updates.
The resource speaker and book author of “Got a Question About Taxes? Ask the Tax Whiz” also shared with the business and industry stakeholders for additional reference materials. (PNA) LAP/SEP/ZEN TRINIDAD/EDS
Zen Trinidad / PNA