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Tax memo aims to 'remind,' not 'go after' online sellers, says DOF
Tax memo aims to 'remind,' not 'go after' online sellers, says DOF
ABS-CBN News
Published Jun 12, 2020 11:17 AM PHT
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Updated Jun 12, 2020 11:53 AM PHT
The Bureau of Internal Revenue headquarters facade is shown in this file photo. Mark Demayo, ABS-CBN News
MANILA - The Department of Finance said Friday it was not running after small sellers when the tax bureau issued a memorandum reminding those who transact online to register and pay for taxes.
The Bureau of Internal Revenue released an order dated June 1, mandating all businesses involved in digital transactions to register by July 31.
“The goal of this project is not to go after online merchants for unreported sales or unpaid taxes. We just want to encourage those who are engaged in online businesses to register with the BIR,” said Finance Revenue Operations Group Undersecretary Antonette Tionko.
“Online transactions have increased for quite some time now, especially during the community quarantine period. That’s why we want to take this opportunity to remind them to register their businesses," she added.
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There will be no penalty for registrations until July 31 as well as for those who will declare and pay corresponding taxes for past transactions, the DOF said.
Online sellers earning below P250,000 a year are exempted from paying taxes, Presidential Spokesperson Harry Roque earlier said.
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