Isn’t it great that our present administration’s BIR is doing a magnificent job of reaching their quotas in collecting taxes? They even reached a historic feat of reaching the P1trillion mark which was made possible by two stellar months of record breaking tax collection to end the year.
|Image courtesy of sdmania/FreeDigitalPhotos.net|
So they reached the trillion peso mark…
Well, the ever dynamic trillionaire commissioner now plans to collect from the “big” online vendors.
We’ll see in the following weeks how Malacanang defines “big” online retailers and how big really is “big.”
Will they limit the tax to online malls that are becoming ever more popular with their bagsak-presyo promotions or will ebay’s powersellers be affected as well?
How will they tax purchases from foreign based markets?
More importantly what does this mean for us who are already making money online through other means, like buying and selling, article writing and direct online tutorials,in the long run?
There are a lot of questions waiting to be answered but even if the initial taxation of the “big” online retail companies turns out to be harmless to us who aren’t making millions of pesos, we must remain vigilant.
Remember, this is the same BIR commissioner who thought that "a receipt should be issued by those selling goods and services worth P25 and more, making it easy for the government to monitor transactions" back in 2010.
Again, let’s be vigilant, fellow online professionals.