The University of the Philippines Visayas, through the Office of Continuing Education and Pahinungod (OCEP) conducted a half-day training on “Understanding Taxation for Micro-organizations and Entrepreneurs” at the Barotac Nuevo Public Market on January 27, 2022.
Over 60 vendors and business owners registered in the training that was specifically designed for micro-organizations and small business owners, particularly in their understanding of taxation and compliance with tax authorities. A public address system was utilized to allow other business owners to listen to the discussion while they remained in their respective stalls and allowed social distancing while a number joined via the Zoom application as an observance to the Covid-19 protocols.
Engr. Cyril A. Sazon, the Municipality of Barotac Public Market In-Charge, welcomed the participants during the training. UPV OCEP Director – Prof. Benmar B. Panaguiton – highlighted the importance of taxation and its role in national and local development. He also discussed the relationship of the business sector and the other agencies like the Bureau of Internal Revenue (BIR), the Department of Trade and Industry (DTI), the Social Security System (SSS), and the Philippine Health Insurance Corporation (PHIC).
UP Visayas College of Management faculty members and seasoned tax practitioners also conducted a series of lectures during the training. Mr. Lourence G. Delfin, Jr. discussed the Business Registration Process and its implications for tax compliance and penalties. Ms. Sheena Marie C. Brey on the other hand, discussed the different types of business taxes, the persons responsible for it, how to compute the taxes dues, what forms to use, and, when and where to file them.
Through the training, the attendees were able to have a greater grasp and appreciation of local taxation and national taxation. At the end of the training, the participants expressed that they were more confident in dealing with the tax authorities, especially during tax mapping.
This training is part of a series of taxation training that are being conducted by the Office of Continuing Education and Pahinungod (OCEP). The OCEP is the extension arm of UPV and one of its missions is to develop and deliver relevant continuing education programs to a diverse audience while also providing community-oriented services to the region’s marginalized sectors. (Source: OCEP, UPV)
(This article, written by AL Ramirez, was first published in the UPV Website on February 10, 2022)