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.
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| Image courtesy of sdmania/FreeDigitalPhotos.net |
So they reached the trillion peso mark…
What now?
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.
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Will they limit the tax to online online malls that are becoming ever more popular with their bagsak-presyo promotions or will ebay’s powersellers be affected as well?
ReplyDeleteThanks for your interest Muhammad Amir. Are you an online seller from the Philippines as well?
DeleteSo far, according to Malanang representatives(because the palace seems to support the idea), small time sellers will not be affected. This is only the beginning however. There will be no clear answers until the IRR will be made public regarding this new BIR move.
It's important to remain vigilant.