Originally Posted by
SPRINGFIELD_XD_40
21 million is big for us but in reality , that is nowhere near compared to the billions of the other magnates and tycoons of the Philippinesif not in Cebu .
Sakto si Kit ... kitang mga ulipon ang madali dali . Ilahang dalion pa na ang binilyon daog na unta .
Tax avoidance isn't the same
as tax evasion. Most of these big companies hire expensive lawyers and accountants to use the legal
loopholes to minimize their taxes. Profits that are reinvested are retained earnings and not taxed. Only profits that are distributed as dividends are taxable. That's the law.
There are many other loopholes, but using them isn't illegal, maybe arguably unethical but companies aren't there to play nice guy. This happens around the world.
This case is different because it falls under tax evasion and not tax avoidance. This is already a large amount for Cebu. There are businessmen who earn more but then again they usually reinvest most of their profits, hence no tax...
Unfair or not that's the law...