In a statement on Tuesday, the Department of Finance said that Secretary Carlos Dominguez III recently ordered the BIR to not only establish a dedicated arm tracking taxpayers’ online sales but also learn from its foreign counterparts how such transactions were being taxed efficiently overseas.
Internal Revenue Commissioner Caesar Dulay told Dominguez that the BIR’s national investigation division was looking into initially setting up a task force to monitor online sales. “The BIR should consult with their counterparts in Russia or South Korea to find out how to properly and effectively tax digital transactions. We have to catch up with these guys,” Dominguez told Dulay, referring to online sellers who flourished amid the COVID-19 pandemic due to social distancing measures.
The DOF earlier reported that 2,282 online-based businesses—retailers and services providers alike—had already registered to pay their correct tax dues to the BIR.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WATCH: NCT 127 looks captivating in 'Favorite (Vampire)' music videoWe understand why Mark cried. (We did, too.) Our favorites from NCT 127 are back – this time, as vampires! 🧛♂️ OurFavoriteNCT127 NCT127_Favorite Sino nag tweet nito fhsjsksk nasa stan twitter ka rin po ba? 😳🎤🎤
Source: rapplerdotcom - 🏆 4. / 86 Read more »
PH eyes finishing COVID-19 vaccinations for minors by DecemberThe Philippine government claims it is on track to meet its COVID-19 vaccination targets.
Source: ABSCBNNews - 🏆 5. / 83 Read more »
150 arrested in dark web sting: EuropolPolice around the world arrested 150 suspects involved in buying or selling illegal goods online.
Source: ANCALERTS - 🏆 26. / 50 Read more »
UN warns world set for 2.7ºC rise on today’s emissions pledgesCurrent commitments to cut greenhouse gas emissions put the planet on track for an average 2.7 degrees Celsius temperature rise this century, a UN report said, in another stark warning ahead of crunch climate talks. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Malampaya sale to Udenna 'most incredible crony' deal in history: complainantA complainant in the graft case against Energy Secretary Alfonso Cusi, billionaire Dennis Uy and others over the sale of Chevron’s stake in the Malampaya project to Uy’s Udenna Corp said Filipinos should be outraged with the deal. Malamang,davao mafia grp transaction eh. diba share ng Shell yung binili? pano naging crony yun? Laging palpak ang mga luto ni Cusi - nero!
Source: ANCALERTS - 🏆 26. / 50 Read more »
Malampaya sale to Udenna 'most incredible crony' deal in history: complainantA complainant in the graft case against Energy Secretary Alfonso Cusi, billionaire Dennis Uy and others over the sale of Chevron’s stake in the Malampaya project to Uy’s Udenna Corp said Filipinos should be outraged with the deal.
Source: ABSCBNNews - 🏆 5. / 83 Read more »