Saturday, January 1, 2011
A Taxing Tax Encounter
I guess its true what they say about the two things we can't escape in life-death and taxes. I've never been one to make a fuss about taxes. In my 13 year career in the corporate world my stand has always been "give to Caesar what is due to Caesar". In other words, I've spent my corporate life among the ranks of the rare few who have avoided the temptation of "tax shields". That was up until last week. I got the shock of my life when I was informed that I would have "zero" net pay at the end of the month and would still have to pay the company a 5-figure amount to make up for my year-end tax deficiency. That was the straw that broke the camel's back. Unfortunately, I had little choice but to accept it. The experience was surreal to say the least. I was caught between the anger and shock. Luckily, shock prevailed. Then came acceptance. I've always kept silent about the huge taxes that get taken from my income every month inspite of the fact that much of what is being taken from me just goes into the pockets of politicians, fixers, crooked contractors, and all the other hoodlums that make up what we in the Philippines call government. Enough is enough, finally I know why they call tax shields a shield and beginning this year I'm getting me a big one.
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