Tarlac State University (TSU) in partnership with Provincial Cooperative and Enterprise Development Office (PCEDO) of Provincial Government of Tarlac extended their expertise on Business Taxation for All Sectors during the second day of the Department of Trade and Industry (DTI)- MSME Caravan last November 09, 2022.
Dr. Maria Teresa C. Agustin, Cooperative External Auditor, and a faculty member of Financial Management Department, served as the resource speaker during the activity held at Diwa ng Tarlac, San Vicente, Tarlac City. The activity aimed to equip the SMEs with knowledge on business taxation, as well as intensify the promotion of entrepreneurship in Tarlac Province.
The resource speaker, Dr. Agustin talked about the different regulatory/ reportorial requirements as well as financial statements to be prepared to register a business. Lectures on the steps in availing tax exemption, mayor’s permit requirements, and application for Taxpayer Identification Number (TIN) were shared with the participants. The activity highlighted discussions on how to access various application sites on different business structures, such as sole proprietorship, corporation, and cooperative.
The completed extension activity of the CBA-Financial Management Department can assist MSMEs to access and process different e-portals and other business-related documents. Since MSMEs are considered the backbone of the economy, the seminar promotes job opportunities as it helps the participants in their registration of business. This will provide additional revenue that may be utilized to purchase good-quality food to lead a healthy life. Thus, the activity would directly contribute to Goals 8 (Decent Work and Economic Growth) and 2 (Zero Hunger) of the Sustainable Development Goals (SDG).
In addition, the said seminar contributes to Goal 11(Sustainable Cities and Communities). It promotes economic ties by strengthening regional development planning by improving the present and future living standards of the populace through businesses that will be established because of the technical assistance provided by TSU.
Furthermore, the completed extension activity is contributory to Goals 4 (Quality Education) and 17 (Partnership for Goals). It encourages lifelong learning on business taxation as well as partnership between DTI, PCEDO, and TSU.
