Online sellers earning less than P250,000 yearly are exempted from paying taxes, Malacañang said on Thursday after the Bureau of Internal Revenue (BIR) ordered online businesses to settle their dues. Roque and Acting Socioeconomic Planning Secretary Karl Chua clarified that online sellers who have annual earnings of P250,000 below were exempted from paying taxes under the tax reform law. “So ‘yun po ang sagot (That’s the answer), if your online business net income does not exceed P250,000, e wala naman kayong babayaran. The BIR directed online sellers and other digital-based businesses to register their activities, declare previous transactions and settle their taxes no later than July 31. The BIR circular on online selling taxes also covered payment gateways, delivery channels, internet service providers and other facilitators.

Source: Manila Times June 11, 2020 16:29 UTC