RFP Song Let me tell you how easy To pay your taxes correctly Remember RFP (RFP): Register,

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RFP Song Let me tell you how easy To pay your taxes correctly Remember RFP (RFP): Register, file and pay REGISTER, If you wanna own a business Or practice with your license. You gotta find your RDO It's a Revenue District Office. Now you know There you bring all the requirements for them to process your important documents. Then get your certificate of registration Also pick up the "Ask for Receipt" notice and display them all in your place of business Register your receipts and your books of accounts In the future, every last one will count It's as easy as RFP (RFP): Register, file and pay FILE. Rule number 1 for tax filing:

Remember when the deadline is near And you gotta visit your RDO. When? you ask Here's how you know: Percentage tax and VAT are monthly. VAT and income tax are quarterly But wait, income tax is also annually I suggest you keep a tax calendar handy It's as easy as RFP (RFP) Register, file and pay PAY. Now you gotta head to your RDO or to an authorized agent bank you go Here are the taxes that you need to know: First, income tax is 5 to 32% You got it, the rate depends on your income bracket Keep in mind your allowable deductions Itemized or standard, those are your options Second is expanded withholding tax Third is VAT or percentage tax Depending on your earnings. That's a fact. And lastly, Registration fee when the year starts It's as easy as RFP (RFP) Register, file and pay Ain't it rocket science. Don't be afraid Pay your taxes right. And don't evade Finish RFP. And you got it made Registered, filed and paid!

REQUIREMENT:

1. Reaction, comments or views on the said BIR infomercials/lyrics of the songs

2. Describe all the relevant general principles in taxation which were made apparent in the infomercials/lyrics