Small-time online sellers exempt from taxes says BIR

calendar_today January 30, 2024 schedule 3 min read

Online sellers making below P500,000 in yearly sales don’t have to pay creditable withholding taxes according to the Bureau of Internal Revenue (BIR). The threshold consists of the total revenue the seller generates across digital platforms such as websites, Facebook, Instagram, and TikTok. As per BIR, online sellers or merchants are exempt if the total […]

Economy, News

Diokno supports BIR plan to tax online retailers, says taxing them will promote “fairness”

calendar_today September 8, 2023 schedule 3 min read

The days of cheaper purchases from online stores could soon be over! This came about after Finance Secretary Benjamin Diokno expressed his support for the Bureau of Internal Revenue (BIR)’s plan to impose withholding tax on Internet merchants, saying doing so will help advance fairness for all vendors. “It doesn’t just result in higher […]