BIR going after online traders and entrepreneurs

Written by Russell Co. Posted in News

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Published on August 01, 2012 with No Comments

Just a heads up to online traders and entrepreneurs in the Philippines. Its seems they’re going to be in a bind, as this year the Bureau of Internal Revenue (BIR) will be on the hunt for those who fail to issue electronic invoices to their customers. Those who conduct their businesses on websites such as sulit.com.ph, e-Bay Philippines, alibaba.com, ayosdito.ph, and multiply.com will be required to register their businesses with the BIR.

“These businesses shall be registered to us, and that they should be paying the corresponding taxes. Otherwise, we will run after them,” Jacinto-Henares said.

Those who regularly conduct transactions on their personal Facebook accounts would also have to register themselves and issue the necessary paperwork. Such paperwork would be transmitted online via email so that both parties will receive copies of said paperwork.

The BIR hopes that the plan will push through within the year and that online sellers are registered at the BIR. Online invoicing could also be availed of through a third-party accredited by the BIR. The bureau cites Section 237 of the National Internal Revenue Code so they say that there isn’t a need to issue a revenue regulation to implement the law.

Source: Interaksyon