Legitimacy Literally Pays Off
I’ll be the first to admit no one likes paying taxes. Especially here in the Philippines, where you suspect your 30% is financing a mistress’ condo or a son’s lavish birthday party! And who wants to file income statements, when you’re stating publicly what you earn?
It may be easy for solo operators like freelancers and contract workers to stay under the taxman’s radar, but the same isn’t true for big corporations. Since they’re high-profile—and thus more apparent to government scrutiny—their accountants have to make sure that every centavo (or cent) is accounted for, and backed up with receipts.
The only way an independent operator can provide official receipts (at least over here), is to officially register as a freelance worker with the tax bureau. In other words, the trouble that paying taxes and filing returns usually involves is actually worth it. Especially if you regularly work for big companies who will only do business with properly registered parties.
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POSTED IN: Living as a Freelancer
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