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Listing for online sellers extended by BIR to Aug. 31

The Bureau of Internal Revenue (BIR) has extended the business registration of online sellers of goods and services from July 31 to Aug. 31.

(MANILA BULLETIN)

BIR Commissioner Caesar Dulay stretched the deadline for another month based on the request of many individuals and companies engaged in digital transactions.

The BIR chief noted in Revenue Memorandum Circular (RMC) No. 75-2020 that many online merchants expressed fear of possibly catching the lethal COVID-19 if they leave the safety of their homes and visit revenue districts to submit their registration application.

Dulay instructed revenue district officers not to impose penalties to those who voluntarily declare past transactions and pay the corresponding taxes.

He said penalties shall only be collected from those who did register and misdeclared sales.

Previous RMC No.60-2020 had exempted digital sellers from  income tax if the annual gross sale is P250,000 and less.

The registration fee is P500 plus P30 documentary stamp tax.

The BIR initiated the registration  of digitalized transactions to get an accurate picture about the new trade which has acquired large number of clientele primarily due to the virus lockdown.


Source: Manila Bulletin (https://mb.com.ph/2020/07/30/listing-for-online-sellers-extended-by-bir-to-aug-31/?utm_source=rss&utm_medium=rss&utm_campaign=listing-for-online-sellers-extended-by-bir-to-aug-31)

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