Sunday, July 22, 2012

Small Business but Big Taxes!

When we were still living in the Philippines, we had a sari-sari store (convenience store) as our small business.  We open the store in February 21 of 2008, it was doing really well for the first two years, I was so happy with the outcome of my small business.  If I remember correctly we spend 100,000 (pesos) for the capital of the store not including the expenses of building the store.  Anyhow my sales everyday could get up to $115 or 5,000 pesos and that's a lot of money in my country.  My sari sari store sells basic commodities at low cost, I also sell rice, canned goods, milk formula, drinks and cigarette. I loved that store and I miss having a small business like I had. Having your own mini grocery business can be fun and profitable but there is also some disadvantages,  albeit I consider it  sari-sari store, my store was big and bigger from all the stores in the neighborhood so of course all the people their was so jealous, they think that I earned a lot from having a business like that.  Well true I earn some, but I'm also paying the taxes because we want our business to be legal.  Unlike the other store in our neighbor that I know of, they did not registered their business and I don't know how they manage to do that until right now with out getting caught.  Oh well its their karma not mine.

Anyhow, I did not regret having that store,it serves its purpose and it help us a lot before financially, especially my family in the Philippines.  I only wish I had a Business Lawyers to help with my problem right now.  See I decided to closed that store and declare bankruptcy last November because it was not doing well (thanks to my relatives and other people who never pay their debts) and also my visa petition was approved so I was getting ready to leave to be with my husband here in the USA.  Now my problem is the BIR (Bureau of Internal Revenue) is giving me hard time to pay the tax, I tried to return my permit and all the paper works that needs to be done before I fly to the US but I was unsuccessful.  I though it was gonna be easy because I paid my taxes for the whole year, every year and I did not owe any centavo so I was so confident that I would be easy, boy I was wrong!  They want a lot of paperwork's from me, they want to see my monthly sales, and the thing that really frustrates me is they said they have to compute the interest of my tax because I did not pay the monthly tax. For the record they never told me that there's a monthly fee that I needed to pay, the only thing that they said the first day I paid my tax is I only have to pay 500 pesos annually, due to the fact that my store is just ordinary store and I don't even issue receipts.

Fast forward today, my sister just told me that after six months they finally figured it out, and they want me to pay 12,000 pesos before they will clear my name and will finally declare my store as bankrupt.  But where can I get that kind of money, that's almost $300, there's no way I will pay them with that amount!  So I'm in trouble right now, I told my family to go to the mayor over there and try to ask favor, at least lessen the money that I need to pay for the BIR.  I really wish I had a business lawyer to help with my legal problem.  This is why its important for any business, big or small to have an ongoing relationship with a lawyer.  Now wish me luck :<

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