Pay your taxes, honor the law

Tax is known to be a burden to every taxpayer. If you earn an income, whether from business or employment, you generally need to pay an income tax. If you do business, whether you gain or loss, you are normally required to remit business taxes. Taxes can be local or can be national. Income tax and business taxes (e.g., value added tax, percentage tax and excise tax) are examples of national taxes imposed on taxpayers. On the other hand, local taxes include permits, licenses and other taxes imposed by local government units. Thus, taxes may initially give unfavorable impressions and impact in our daily lives. But why our government imposed such burdens?

Taxation has four main purposes – revenue, redistribution, repricing and representation. Read more

The beginning of business wisdom

Wisdom is greatly important for us to succeed in business. We use it to make just and righteous business decisions. We apply it from planning, to execution and to preservation of our businesses. We need it in choosing the greatest product ideas, hiring the best personnel, creating the most effective marketing strategies and offering the most outstanding customer services. Even in our smallest decisions, we need wisdom to do them right and running.

But what is true wisdom anyway? Do we really have it? Do we really use it? In answering these questions, let’s take a look at the beginning of wisdom. According to the Bible… Read more

A business application on the golden rule and ethic of reciprocity

All of the known righteous religions in the world harmonize on one golden rule:

Buddhism:

“Hurt not others in ways that you yourself would find hurtful.”

Christianity:

“Do to others what you would have them do to you, for this sum up the Law and the Prophets.”

Confucianism:

“Do not do to others what you do not want them to do to you.” Read more

What is your business wish list for the New Year 2009?

What are your business wishes for 2009? For me, the following are my wishes for my business, for businessmen, and the business world in the year of the Ox

1. Reduction of business tax rates which totally burdens all the Philippine consumers – whether these consumers are businessmen or not.

2. I hope businessmen will pay right amount of taxes to the government so that the government can generate higher internal revenue and will have no reason to implement additional unsound taxes. Read more