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
Jerald Napoles on “couple vlogger” being investigated by BIR Actor Jerald Napoles recently shared his reaction about the “couple vlogger” being investigated by the Bureau of Internal Revenue (BIR). PEP reported that Jerald and his girlfriend Kim Molina have a joint YouTube channel “KimJe TV” which already has nearly half a million subscribers. However, the … Read more
Income derived from playing cryptocurrency-based gaming platforms were subject to tax, according to BIR. On Tuesday, the Bureau of Internal Revenue (BIR) said that income derived from playing cryptocurrency-based gaming platforms, such as “Axie Infinity”, were subject to payment of income taxes. During the “Laging Handa” briefing, BIR Deputy Commissioner for Legal Group Marissa Cabreros … Read more