MANILA, Philippines — “It’s not only a requirement and an act of good citizenship, it also comes with benefits.”
Finance Assistant Secretary Tony Lambino said this Tuesday as he urged online sellers to register their businesses with the Bureau of Internal Revenue (BIR) as mandated by law to enjoy government benefits.
In a televised public briefing, Lambino said registered businesses are entitled to the Department of Trade and Industry’s low-interest loan program, and can also qualify for the government’s small business wage subsidy programs.
Lambino issued the statement amid criticisms against BIR’s recent order to online sellers and other digital-based businesses to register their activities, declare previous transactions, and settle their corresponding taxes no later than July 31.
The BIR directive came as several businesses shift to the online platform since the coronavirus lockdown restrictions have prevented physical stores from opening.
The Finance official argued that the BIR order was just a reminder as taxing online sellers is not a new policy.
“It is really just to make sure that everyone is compliant atsaka fair po ang pag-implement ng ating [and we are fair in implementing our] tax code,” Lambino said.
He also reiterated that those earning less than P250,000 annually are exempted from paying taxes.
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