DOF: Registration of online business mean to protect sellers

Finance Assistant Secretary Tony Lambino defended the order of the Bureau of Internal Revenue (BIR) requiring online sellers to register their businesses and pay taxes. 

Lambino said Revenue Memorandum Circular No. 60-2020 was not crafted to run after online sellers, but to implement the tax code on all businesses in the Philippines no matter how big or small.

 

“Paalala lamang sa mga online sellers na kailangang registered sila sa BIR. Hindi na bago ito kasi nasa batas naman na ‘yan. Paalala na dapat registered lahat ng negosyo whether may tax due or wala,” Lambino said.

(This is a reminder to online sellers to register with the BIR. This not new because it’s in the law anyway. Businesses should be registered whether they have tax dues or none)

 

Lambino said online sellers will also benefit from the BIR’s order since being registered will guarantee their qualification for the small wage subsidy program and other financial assistance programs of the Department of Trade and Industry (DTI) and the Social Security System (SSS).

 

He added that online sellers will also benefit from the proposed Corporate Recovery and Tax Incentives for Enterprises (CREATE) and the proposed Net Operating Loss Cover-Over (NOLCO) extension once approved.

 

Lambino clarified that online sellers who earn only up to P250,000.00 are exempted from paying taxes.