7.2.1.

2 Government

The government can affect the cost and modify how firms operate by adopting legislation or
changing its own spending and taxation. Extra government expenditure or lower taxes, for example, might
increase demand in the economy, resulting in higher output and employment. FlexiFurni Ph. can assist
the government by adhering to these government-sponsored economic schemes. The Philippine
government encourages commercial activity because it has a significant impact on the country's economic
health. The faster the Philippine Currency circulates, the more business activity take place. FlexiFurni Ph.
is also liable for paying government taxes. One of the tasks that cannot be avoided is paying taxes. Tax
penalties must be paid if taxes are postponed. Governments require long-term funding sources for social
programs and public investments in order to promote economic growth and development. Health,
education, infrastructure, and other services programs are critical to achieving the common aim of a
wealthy, functional, and harmonious community. Governments levy fees on residents and corporations
to raise income, which is then used to meet their budgetary obligations. As a result, taxes are paid to the
government in order to assist them in funding their economic development efforts.