BIR, maniningil na ng 1% witholding tax sa online platforms at digital service providers
BIR, maniningil na ng 1% witholding tax sa online platforms at digital service providers
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00:00 The Bureau of Internal Revenue will issue a 1 percent withholding tax on online platforms and digital service providers.
00:09 Under Revenue Regulation No. 16-2023, the BOIS will reduce half of the income paid by e-market operators and digital financial service providers
00:22 to sellers and merchants for the products or services sold on their platforms.
00:28 Online platforms are payment channels that will be remitted to the BIR.
00:34 Online sellers and merchants earn less than P500,000 a year are exempted from the withholding tax.
00:44 The BIR also urges the online sellers to register to determine how widespread the e-commerce industry is in the country.
00:52 The regulation issued on December 21 will be effective 15 days after its publication in the official newspaper.