The Bureau of Internal Revenue has directed online sellers to register their business activities and settle their taxes not later than July 31.
BIR said it issued Memorandum Circular 60-2020 “to give notice to all persons doing business and earning income in a any manner or form, specifically those who are into digital transactions through the use of any electronic platforms and media, and other digital means, to ensure that their businesses are registered pursuant to the provisions of Section 236 of the Tax Code, as amended, and that they are tax compliant.
Those who will register their business activities or update their registration status not later than July 31 shall not be imposed with penalty for late registration. “All those who will be found later doing business without complying with the registration or update requirements, and those who failed to declare past due taxes or unpaid taxes shall be imposed with the applicable penalties under the law, and existing revenue rules and regulations,” BIR warned.
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