ANSWERS:

1. COVID-19 has not so big effect on the Philippines’ taxation system. Yes, many people
loses their jobs, and is having a hard time earning money but that doesn’t end
everything. Mar. 14, 2020 and in view of the rising number of COVID-19 cases, the
Philippine Government was compelled to declare an enhanced community quarantine,
forcing consumers to stay at home in order to minimize the risk of transmitting the virus
and that gives a drastic change in consumers behaviour, because everyone who has the
capacity to do so, does panic buying. So in connection with the taxation system, it does
not have a big effect because as the lockdown continues many consumers became seller
who took advantage of the opportunity to end their being unemployed. And through
online selling it gives another way of having tax because in the middle of all this, the
BIR issued Revenue Memorandum Circular (RMC) 60-2020, notifying businesses earning
income through electronic and digital platforms to register their businesses and comply
with their tax obligations. Under the said issuance, businesses are given until 31 July
2020 to register or update their registration status, and voluntarily declare, file and pay
the taxes on past transactions. Failure to do so will result to the imposition of penalties
provided under the law, rules, and regulations. That only means that lockdown or not,
with covid or none the tax doesn’t got affected that much because even employees who
are working at home still pay tax. Maybe the only effect is that there are some
adjustment that the government did, like the exemption for health workers to their
compensation and other exemption coming from import duties and such and it’s not the
same as the normal but all is well.
2. For me with or without covid, taxpayers has nothing to do but to pay their tax, because
it may only cost them penalties if they will not pay their respective taxes. But not all are
maybe on time but they still pay because of it’s not easy to have money. When it comes
to online seller, I don’t think all of them pay taxes especially if they did not register their
business to the BIR and also maybe they are having difficulty earning money, and the
money they earn are just not enough so they tend to avoid paying tax. Everything
depends on the circumstances.
3. There are many differences happened between the old law and the train law. One of
these is the tax for professional or self- employed tax payers. Here’s the tax table of the
two:

The most popular part of the Train law is

the reduction of personal income tax of a
majority of individual taxpayers. Prior to
the enactment of the new law, an
individual employee or self-employed
taxpayer would normally have to pay
income tax at the rate of 5% to 32%,
depending on one's bracket. Under Train
Law, an individual with a taxable income of
P250,000 or less will now be exempt from income tax. Those with a taxable income of above
P250,000 will be subject to the rate of 20% to 35% effective 2018, and 15% to 35% effective
2023.
4. I think all businesses will be viable after this COVID 19 virus because if you will think,
after this, everyone will be free like an animal in the zoo who will wander everywhere so
the tendency all shops, businesses and boutiques will be viable, will be alive again after
so many long of waiting. But, the most viable business will depend on the season as
well. For example, this covid ends during summer, well obviously beaches and other
resorts will be the most alive and viable business at that time because covid took 2020’s
summer to all of us and everyone is hungry to go on for an outing. So for me, I think it
depends on the season but surely malls and other tourist spot will be the most viable
business immediately after covid.
5. For me it does not need to have covid or for this covid to exist just to feel the equal
footing with everyone, because all of us are equal for him. When you have money –
you’re wise and when you don’t have – you’re foolish, no. Because money is also the
reason why you have money, meaning you have that money because your parents
have, you were able to have a very comfortable life because they already have it and
they worked hard for it. So when you don’t, it only comes with a 2, you marry a rich
person or you work hard for it, so the situation is still equal or the same. Yes, not all of
us has the opportunity to have education, to get a good job and to earn a lot of money,
but we have this “daig ng masipag at madiskarte ang matalino”. So now that we have
this pandemic, I can say that we can now all see that whether you are rich or poor,
money can’t do everything and that doesn’t give you all the things you need, that
doesn’t help you at all times. Money makes our world go around, but things will be
different now when we talk about health. Yes, you have as much money the world can
offer or give you, but that doesn’t change the fact that time will come, when your body
is slowly decaying, that money that you have can’t help you even if you will spend all of
it for you to get healthy again, you can never have that to the next life and you can
never bring that there. So no matter where you stand in this society time will come that
you will realize that at the end we will all the same and equal because we’ll be at the
same ground, different places maybe but same situation. We are all equal, it’s just that
many people look in different side of it just to put themselves at the top of anyone or to
give themselves a position to the society.
6. Honestly, I’m not satisfied with this kind of teaching and with this way of learning but
due to the pandemic that we have, I have nothing to do about it. But I think it’s the best
if the topics will be tackled little by little until the students understands it because if you
will think, during face- to- face the students are already having a hard time
understanding the topic, what more with online teaching. And also giving of hand-outs
so that we will have a guide when we review the lesson and also a reference for those
who doesn’t have strong internet connection. Learning is very important so that we
need to have an effective way of teaching wherein the students will really learn.
7. In connection with this subject and this pandemic that we have, I think the best
example is the tax exemption and the expansions of deadline of fillings and payment of
tax. For now it is indeed very hard to earn money that’s why the government execute an
act where there are tax exemptions for those front liners or health workers and also
they have this act where filling of tax and paying it is expanded. Just like what I said,
the best thing to do to improve the teaching is to give the students a hand-outs and
also to consider everyone first before conducting an online class because it will be
 useless for those who still have no internet connection and for those who are having
difficulty when it comes to network signal.
8. Covid 19 is the scariest thing that happened to all of us this 2020, this virus took a lot of
life here and outside the country. If we will relate it to our subject which is Transfer and
Business Taxation, we can apply here the tax exemption, expansion of filling and
payment, transfer of property and many more. For tax exemption, health workers was
given the opportunity to be exempted from income tax and subsequently with the
withholding tax, through this Bayanihan II Act. Exemption from import duties, taxes,
and other fees for manufacture or importation of critical equipment or essential goods.
And moving of statutory deadlines and timelines for the filing and submission of any
document, the payment of taxes, fees, and other charges required by law, and the grant
of any benefit, in order to ease the burden on individuals under community quarantine.
And lastly is the transfer of property of the deceased. Since there are many lives that
this covid took, many family also are mourning and with this there are some deceased
who has property and that property will be subject for transfer tax and other tax. This
subject is about tax system here in the Philippines, and there are a lot of it was affected
because of this pandemic.
9. Let’s talk about other percentage tax. As a rule, vat is imposed on every sale, barter, or
exchange of goods or services and on importation, but there are instances where the
same does not apply because the transaction is subject to other percentage taxes.
Percentage tax is a tax imposed on sale, barter, exchange or importation of goods, or
sale of services based upon the gross sales, value in money of receipt derived by the
manufacturer, producer, importer or seller measured by certain percentage of the gross
selling price or receipt. It the transaction is already subject to other percentage tax, it is
and will no longer subject to vat. Nonetheless, other percentage tax as well as vat may
be imposed together with excise tax. Persons who are not required to register under the
vat system because its either their gross sales or receipt do not exceed the vat threshold
of P3M and the transaction is not subject to other percentage tax under section 117-
127, Title V of the Tax Code, are generally subject to 3% percentage tax known as the
3% percentage tax on vat exempt sales or transactions. However, persons who are
subject to the later have the option to apply for vat registration not later than 10 days
before the beginning of the taxable quarter. And any person who are under this section
who elects to register under the vat system shall not be allowed to cancel his
registration for a period of 3 years.