M1PT1 Introduction to Business Taxes

PERALTA, CLARICEL JOY A.

BSA 2D

1. Based on your understanding and using your own words, why do we pay taxes? (10
points)
We pay taxes because it is mandated by the law. Paying taxes is our obligation to our nation.
Filipinos pay taxes to help fund the government with their projects like infrastructures, facilities,
and social services. We also pay taxes as our share to our economic growth, to fund projects that
will help our country’s development. With our taxes, we contribute to fund the government
services and salaries in different fields such as defense, security, healthcare education and many
more. Hence, paying taxes is paying the salaries of government workers, their services towards
Filipino people, support common resources like our police, firefighters, teachers and many more.

2. Based on your understanding and using your own words, who benefits when taxes are
collected? (10 points)
The Filipino people are the benefactor of the taxes we pay since we are the one using the
government services like public transportations wherein taxes helps to ensure the roads we travel
on are safe and well-maintained. Everyone can benefit from the taxes collected. If right amount
of tax will be collected, the government can fund the services and infrastructures rightfully. A
developing country will attract more investors hence creating more jobs for the Filipinos. Some
taxes go to other public insurance that we can claim by filing government loans, disability and
maternity. Tax money also used to fund projects such as public libraries, parks, bridges, public
schools, etc.

Moreover, taxes also used to account lots of government programs that is purely benefits the
poor Filipino people, the less fortunate one. Taxes also allocated across numerous areas to pay
our national debt’s interest, for military purposes, even the benefits of veterans, and science
organizations for the drives of research done at big and well-known universities around
Philippines like University of the Philippines (UP).