RMC 97-2021 states social media influencers must pay income tax and business tax, which may either be percentage or value added tax, and are classified for tax purposes as self-employed individuals.
The BIR noted in its memorandum that it had received reports about certain social media influencers not paying their income taxes despite raking in huge earnings from various platforms. "Maybe not since it's still exempted from income tax under the TRAIN law. But for those who are earning millions and even uploading house tours on their channel, I guess you've just earned the attention of BIR," Abrea said.
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.
BIR to run after unregistered social media influencersA top Department of Finance official said the Bureau of Internal Revenue (BIR) is now examining how much tax revenue it can generate by pursuing unregistered social media...
Source: TheManilaTimes - 🏆 2. / 92 Read more »
BIR to run after unregistered social media influencersA top Department of Finance official said the Bureau of Internal Revenue (BIR) is now examining how much tax revenue it can generate by pursuing unregistered social media...
Source: TheManilaTimes - 🏆 2. / 92 Read more »
Taliban’s Afghanistan takeover presents fresh challenge for social media companiesThe Taliban’s rapid takeover of Afghanistan poses a new challenge for big U.S. tech companies on handling content created by a group considered to be terrorists by some world governments.
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Kelra’s Homophobic And Sexist Remarks Spark Social Media BacklashGrant Duane “Kelra” Pillas sparked a social media backlash after evidence of his homophobic slurs and sexist remarks in a live stream surfaced. In a
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Scrambling for air purifiers: Capitol postpones memoCEBU CITY, Philippines - Before driving a public utility bus for more than five hours, from Cebu City to Dumaguete City, on Monday, August 16, 2021, Richard Benitez had to borrow money from one of Air purifiers is a joke. NaUnsa naman na sila intawn.
Source: cebudailynews - 🏆 8. / 71 Read more »