Online Sellers Earning P250,000 Yearly Are Tax Exempt

Online businesses earning less than 250,000 pesos per year are exempted from paying taxes, Malacañang said Thursday after the Bureau of Internal Revenue reminded online sellers to settle their dues.

Presidential Spokesman Harry Roque said, “If your online business net income does not exceed 250,000 pesos then (you don’t have to pay).”

Roque made the remark after the BIR urged digital entrepreneurs to register their businesses. Lockdowns due to the pandemic shifted more Filipinos to e-commerce.

The BIR has given online sellers until July 31 to register to avoid penalties.

The bureau said, “All those who will register their business activity and update their registration status not later than July 31, 2020 shall not be imposed with penalty for late registration.”

However, some senators preferred that the BIR focus its efforts on large tax evaders, such as Philippine offshore gaming operators, who owe the government billions of pesos in taxes.

Source: https://news.abs-cbn.com/business/06/11/20/online-sellers-earning-below-p250000-yearly-are-tax-exempt-palace

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