Tax on online sellers to foster ‘fairness’, says Diokno

Lady Vicencio, ABS-CBN News

<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='Department of Finance Secretary Benjamin Diokno answers questions at a briefing after the Ceremonial Distribution of Land Titles to beneficiaries of the Agrarian Reform Law during a formal program held at the Heroes Hall in Malacanang Palace in Manila on July 7, 2023. Jonathan Cellona, ABS-CBN News' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/07/30/20230707-marcos-agrarian-reform-jc-0660.jpg' ><figcaption>Department of Finance Secretary Benjamin Diokno answers questions at a briefing after the Ceremonial Distribution of Land Titles to beneficiaries of the Agrarian Reform Law during a formal program held at the Heroes Hall in Malacanang Palace in Manila on July 7, 2023. <em>Jonathan Cellona, ABS-CBN News</em></figcaption></figure></div><p>MANILA - The Bureau of Internal Revenue’s plan to impose withholding tax on online sellers will promote fairness for all sellers, Finance Secretary Benjamin Diokno said.<br/> <br/>In a briefing, Diokno argued that tax imposed on regular stores should also be imposed to online sellers.<br/> <br/>“It’s not only increasing tax revenue. It’s a matter of fairness. Kasi kung bibili ka sa regular store, magbabayad ka ng tax. Dito hindi ka magbabayad, unfair ‘yon,” Diokno explained.<br/> <br/>“People have to perceive that the tax system is fair so they will be willing to pay,” he added.<br/> <br/>The BIR is looking to amend existing revenue regulation to include income payments by online platform providers.<br/> <br/>But more than the possible increase in tax revenue, Diokno said that it must be established how feasible it would be to collect tax on these items.<br/> <br/>“Another factor when you consider tax system is how much money can you really collect? May mga tax na maganda lang pakinggan, but is it administratively easy to collect? Yung cost per $100, how much will it cost you to collect $100 dollars?” Diokno said.<br/> <br/>“I think you have to look also at the impact of tax on the economy. Hindi lang yung single-minded na raise revenue. That’s not your only objective eh kasi fairnessis also an objective. Simplicity is an objective. Kasi pwede ka makapag-impose ng tax pero napaka-complicated so di ka rin makakakolekta di ba?” Diokno said.<br/><strong> <br/>RELATED VIDEO</strong></p><figure class='op-interactive'><iframe height='315' src='https://www.youtube.com/embed/NrcrY_qBhgM?enablejsapi=1' width='560'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

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<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='Department of Finance Secretary Benjamin Diokno answers questions at a briefing after the Ceremonial Distribution of Land Titles to beneficiaries of the Agrarian Reform Law during a formal program held at the Heroes Hall in Malacanang Palace in Manila on July 7, 2023. Jonathan Cellona, ABS-CBN News' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/07/30/20230707-marcos-agrarian-reform-jc-0660.jpg' ><figcaption>Department of Finance Secretary Benjamin Diokno answers questions at a briefing after the Ceremonial Distribution of Land Titles to beneficiaries of the Agrarian Reform Law during a formal program held at the Heroes Hall in Malacanang Palace in Manila on July 7, 2023. <em>Jonathan Cellona, ABS-CBN News</em></figcaption></figure></div><p>MANILA - The Bureau of Internal Revenue’s plan to impose withholding tax on online sellers will promote fairness for all sellers, Finance Secretary Benjamin Diokno said.<br> <br>In a briefing, Diokno argued that tax imposed on regular stores should also be imposed to online sellers.<br> <br>“It’s not only increasing tax revenue. It’s a matter of fairness. Kasi kung bibili ka sa regular store, magbabayad ka ng tax. Dito hindi ka magbabayad, unfair ‘yon,” Diokno explained.<br> <br>“People have to perceive that the tax system is fair so they will be willing to pay,” he added.<br> <br>The BIR is looking to amend existing revenue regulation to include income payments by online platform providers.<br> <br>But more than the possible increase in tax revenue, Diokno said that it must be established how feasible it would be to collect tax on these items.<br> <br>“Another factor when you consider tax system is how much money can you really collect? May mga tax na maganda lang pakinggan, but is it administratively easy to collect? Yung cost per $100, how much will it cost you to collect $100 dollars?” Diokno said.<br> <br>“I think you have to look also at the impact of tax on the economy. Hindi lang yung single-minded na raise revenue. That’s not your only objective eh kasi fairnessis also an objective. Simplicity is an objective. Kasi pwede ka makapag-impose ng tax pero napaka-complicated so di ka rin makakakolekta di ba?” Diokno said.<br><strong> <br>RELATED VIDEO</strong></p>

The Bureau of Internal Revenue’s plan to impose withholding tax on online sellers will promote fairness for all sellers, Finance Secretary Benjamin Diokno said.

Tax on online sellers to foster ‘fairness’, says Diokno | ABS-CBN News

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Tax on online sellers to foster ‘fairness’, says Diokno

Tax on online sellers to foster ‘fairness’, says Diokno