EDITORIAL| Paying taxes

THE BUREAU of Internal Revenue is reminding tax payers to file their income tax returns before April 15 to help the agency achieve the target set at P1.829 trillion this year from last year’s P1.567 trillion. In the region, the target is P20 billion from P16.9 billion in revenue collections last year.

For taxpayers, paying taxes before the deadline will keep us from the inconvenience of long queues and short tempers that usually hound us while waiting and falling in line.

Employees whose taxes are deducted monthly might either be happy to find they have a tax refund or bemoan the payment of what accountants call “tax collect” which arises when the monthly tax deduction was less than what one ought to pay.

We know where the taxes are going, or should go. There is heightened consciousness now that our hard earned peso should be worth the services we receive from our government. This is the reason why we should be vigilant and say “Aha!” on any sign of corruption and actively seek transparency and good governance.

Why do we have to pay the correct income tax, some people ask. Even if we whine and complain on the tax deductions every month boring a huge dent on our paycheck, paying taxes have its advantages. In various legal transactions such as getting a VISA or acquiring a loan, the ITR is considered proof of income. It also shows that one is an upstanding citizen who deals honestly in transactions and has a high probability of paying loans or fulfilling obligations.

We may have some reservations on where the taxes are spent but it is every citizen’s obligation to pay taxes. It is also our right to demand that the country’s revenues are enjoyed by all citizens and not stuffed in the pockets of government officials.

Posted in Opinion