BIR orders online sellers to register business, declare past transactions by July 31

Marje Pelayo

MANILA, Philippines – The Bureau of Internal Revenue (BIR) has notified all sellers and service providers doing income-generating businesses through the Internet of their tax obligations.

They are being required to register or update their registration with the agency to ensure that they are tax compliant.

According to Revenue Memorandum Circular No. 60-2020 dated June 10, all persons doing business and earning income in any manner or form through the use of any electronic platforms and media are advised to accomplish their registration until the end of July.

“All those who will register their business activity and/or update their registration status not later than July 31, 2020 shall not be imposed with penalty for late registration,” the BIR advised.

Online business owners are also asked to declare their past transactions subject to pertinent taxes and all taxes incurred must be settled on or before July 31 so as not to face penalty. 

The memorandum covers not only partner sellers or merchants but also ‘payment gateways, delivery channels, Internet service providers and other facilitators.’

The BIR reminded that anyone who will be found doing business without registering or updating their registration and those who failed to declare past due taxes or unpaid taxes on or before July 31 “shall be imposed with the applicable penalties under the law, and existing revenue rules and regulations.”

The post BIR orders online sellers to register business, declare past transactions by July 31 appeared first on UNTV News.