Listing for online sellers extended by BIR to Aug. 31

The Bureau of Internal Revenue has extended the business registration of online sellers of goods and services from July 31 to Aug. 31.

BIR Commissioner Caesar Dulay stretched the deadline for another month based on the request of many individuals and companies engaged in digital transactions. The BIR chief noted in Revenue Memorandum Circular No. 75-2020 that many online merchants expressed fear of possibly catching the lethal COVID-19 if they leave the safety of their homes and visit revenue districts to submit their registration application.

Dulay instructed revenue district officers not to impose penalties to those who voluntarily declare past transactions and pay the corresponding taxes.Previous RMC No.60-2020 had exempted digital sellers from income tax if the annual gross sale is P250,000 and less.The BIR initiated the registration of digitalized transactions to get an accurate picture about the new trade which has acquired large number of clientele primarily due to the virus lockdown.

Source: News Formal (newsformal.com)

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