Thursday, July 22, 2010

BIR to collect taxes from vendors, not Big Time Companies

The Bureau of Internal Revenues (BIR) declared yesterday that it intends to collect taxes from street vendors, members of the underground economy. This is laudable, but will attract a brutal and long-term war.

Why is the BIR training its sights on small and medium sized entrepreneurs when it still has not finished or even started collecting taxes from big local companies and multinationals? I mean, come on!

Likewise, why even put VAT on toll? This will raise the prices of goods and commodities. Mukhang hindi yata napagisipang mabuti ito and they just considered the appeal of the Malaysian company at SLEX and that of Pangilinan group in NLEX. This will be used to raise toll rates.

I don't know what is really happening. Seems that nothing has really changed. Fact is, things are expected to worsen before it gets better.