The Asian Consulting Group (ACG) conducted a seminar for the Parañaque Cooperative Development Office on Tuesday, September 11, 2018. The event was held at the Mayor’s Lounge, Parañaque City Hall and was attended by officers and staff of various cooperatives. The discussion revolved around TRAIN Law – its content and its impact on cooperatives. Also included in the discussion are the potential effects of the upcoming tax reform packages.
The Philippine Tax Whiz Mon Abrea led the seminar, further providing answers to the most commonly asked questions by taxpayers. In addition, the founding President of ACG also answered the questions provided by the attendees in advance, such as the content of Tax Incentives Management and Transparency Act and the tax exemptions of cooperatives under the Philippine Cooperative Code.
As a tax reform advocate, Abrea also emphasized the need for administrative reforms that will make tax collection more efficient.
“If we want the tax reform to work for all of us, we have to help the Bureau of Internal Revenue in running after real and big-time tax evaders,” said the tax expert.
On the part of the taxpayers, this means complying with regulations and paying the right taxes. Tax evasion inevitably incurs hefty, but otherwise easily-avoidable, fines and penalties. Learning about taxes and the basics of tax compliance is the first step in avoiding these unnecessary expenses.
ACG’s Tax Whiz Academy offers TRAIN seminars for business organizations and associations. We also offer Exclusive Tax Coaching for startups and Executive Tax Briefing for business owners. To learn more, e-mail us at [email protected] or call us at (02) 622-7720.