Online businesses earning less than P250,000 per year are exempted from paying taxes, Malacañang said.
MANILA-- Online businesses earning less than P250,000 per year are exempted from paying taxes, Malacañang said Thursday after the Bureau of Internal Revenue reminded online sellers to settle their dues.
"If your online business net income does not exceed P250,000 eh wala po talaga kayo ibabayad ," Presidential Spokesman Harry Roque said. Roque made the remark after the BIR urged digital entrepreneurs to register their businesses. Lockdowns due to the pandemic shifted more Filipinos to e-commerce."All those who will register their business activity and/or update their registration status not later than July 31, 2020 shall not be imposed with penalty for late registration," said the BIR.
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