Online sellers earning below P250,000 yearly are tax exempt: Palace | ABS-CBN
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Online sellers earning below P250,000 yearly are tax exempt: Palace
Online sellers earning below P250,000 yearly are tax exempt: Palace
Arianne Merez,
ABS-CBN News
Published Jun 11, 2020 01:44 PM PHT
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Updated Jun 11, 2020 03:45 PM PHT
MANILA-- Online businesses earning less than P250,000 per year are exempted from paying taxes, Malacañang said Thursday after the Bureau of Internal Revenue reminded online sellers to settle their dues.
MANILA-- Online businesses earning less than P250,000 per year are exempted from paying taxes, Malacañang said Thursday after the Bureau of Internal Revenue reminded online sellers to settle their dues.
"If your online business net income does not exceed P250,000 eh wala po talaga kayo ibabayad (you don't have to pay)," Presidential Spokesman Harry Roque said.
"If your online business net income does not exceed P250,000 eh wala po talaga kayo ibabayad (you don't have to pay)," Presidential Spokesman Harry Roque said.
Roque made the remark after the BIR urged digital entrepreneurs to register their businesses. Lockdowns due to the pandemic shifted more Filipinos to e-commerce.
Roque made the remark after the BIR urged digital entrepreneurs to register their businesses. Lockdowns due to the pandemic shifted more Filipinos to e-commerce.
The BIR has given online sellers until July 31 to register to avoid penalties.
The BIR has given online sellers until July 31 to register to avoid penalties.
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"All those who will register their business activity and/or update their registration status not later than July 31, 2020 shall not be imposed with penalty for late registration," said the BIR.
"All those who will register their business activity and/or update their registration status not later than July 31, 2020 shall not be imposed with penalty for late registration," said the BIR.
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