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Robinson's mall is a ghostown

Discussion in 'Dumaguete City' started by Princeton, Jul 27, 2019.

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  1. furriner

    furriner DI Forum Adept Restricted Account

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    In the US, the SEC (securities and exchange commission) gets involved in the accounting methods used. Lot’s of companies were suspected of potentially defrauding investors using liberal accounting methods after the ENRON debacle. After that happened the SEC began auditing other large companies; I worked at IBM who voluntarily switched to the more modern and accurate system which made them show lower and more realistic profit numbers. The lower bottom line would probably result in lower taxes.


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    furriner, Aug 4, 2019
    #71
  2. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    Possibly the case, but then again it is the Philippines. I would bet there was/is a lot of book keeping slight-of-hand happening to keep the money in the right hands. Forcing honest, or at least "more honest", book keeping for tax collection purposes is probably a constant battle for the government. I really doubt the vast majority of small or large businesses in the Philippines are correctly reporting their expenses/revenue/profit. I've seen how certain small businesses deal with the BIR officials and I highly doubt much of that cash handed over is making its way into the government coffers. Seems more of a "go away" or "look elsewhere" type of transaction. I've never seen so many smiles when it came to paying the tax man.
     
    Rye83, Aug 4, 2019
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  3. IggyPop

    IggyPop DI Member Showcase Reviewer

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    I see you are finding it hard adapting from Swiss time to Filipino time.
     
    IggyPop, Aug 4, 2019
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