BY JUN RAMIREZ
The Bureau of Internal Revenue (BIR) has reminded online sellers of goods and services that they have until tomorrow (Sept. 1) to register the trade.
BIR Deputy Commissioner for Operations Arnel Guballa said the deadline will be no longer be extended and those who fail to register on time “shall be subject to applicable penalties under existing tax laws and regulations.”
The deadline was moved from Aug. 31 to Sept.1 as the former was a non-working day.
The registration covers all digital transactions including marginal merchants as the Tax Code requires the registration of all businesses regardless size.
Guballa said small online businesses will not be subject to taxation if the annual gross income is P250,000 and less.
He said no fine will be imposed to those who voluntarily declared previous transactions and paid the corresponding taxes.
The registration fee is P500.00, plus P30.000 documentary stamp tax.
The original July 31 deadline was stretched for one month to give online merchants more time to prepare documents and register the business due to the Corona Virus-19.
Many registrants were hesitant to go to the revenue field office to register for fear of catching the virus.(Jun Ramirez)
