The BIR was eyeing to increase digital payments by 50% in 2022. BIR — The Bureau of Internal Revenue was aiming to increase digital payment transactions to 50% in 2022 by accelerating modernization efforts. In a statement, the BIR said that it targeted to increase digital payment (ePayment) transactions by 50% in 2022 as modernization … Read more
The DOF has proposed the centralized government collection system through BIR. DOF — The Department of Finance has proposed that all government collection be coursed via the Bureau of Internal Revenue (BIR) as part of efforts in order to centralize business transactions in the Philippines. According to Finance Secretary Carlos Dominguez, the Department of Finance … Read more
The DOF wanted fintech companies to be “properly” taxed and regulated. DOF — The Department of Finance wanted fintech companies in the Philippines to be properly taxed and regulated while urging the sector’s growth and continued innovation. On Tuesday, DOF Secretary Carlos G. Dominguez III said in a statement that he has tasked the Bureau … Read more
The BIR will strengthen tex regulations as fintech usage grows, according to DOF. DOF — The Department of Finance said on Friday that the Bureau of Internal Revenue (BIR) will strengthen tax regulations for the financial technology (fintech) industry as online transactions continued to gain traction during the pandemic. Revenue Deputy Commissioner Marissa Cabreros recently … Read more
The BIR encouraged fintech companies to register and pay taxes. BIR — The Bureau of Internal Revenue encouraged financial technology (fintech) companies to register and pay their taxes in order to avoid tax evasion charges. BIR Commissioner Caesar R. Dulay recently made the appeal following reports that many of those financial technology companies have yet … Read more
The BIR has formed a special task force that will focus on social media influencers and online merchants. BIR — The Bureau of Internal Revenue has ordered the creation of a special task force that will focus on social media influencers and online merchants. The tax bureau has ordered the creation of a special task … Read more
Dominguez ordered BIR to study other countries’ tax practices on digital transactions. DOF — Finance Secretary Carlos Dominguez III ordered the Bureau of Internal Revenue (BIR) to study other countries’ tax practices on digital transactions. Dominguez has ordered the BIR to form a unit dedicated to tracking sales of goods done online and to coordinate … Read more
Only 105 social media influencers have registered with BIR, according to DOF. DOF — The Department of Finance said that only 105 social media influencers have registered with the Bureau of Internal Revenue (BIR). On Friday, the Department of Finance said that more than half of the initial list of tax-delinquent social media influencers have … Read more
The BIR was currently investigating an initial list of 250 social media influencers to look into their tax compliance. The Bureau of Internal Revenue (BIR) was currently investigating an initial list of 250 social media influencers to look into their tax compliance. Citing a BIR report to Finance Secretary Carlos Dominguez III, the Department of … Read more
Rewards for tipping off tax-evading social media influencers were still subject to tax, according to BIR. The Bureau of Internal Revenue (BIR) said that rewards for tipping off tax-evading social media influencers were still subject to tax. Manila Bulletin reported that even BIR rewards for tipping off tax-evading social media influencers were still subject to … Read more