Monday, April 15, 2024
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BIR imposes 1% withholding tax on online merchants

The Bureau of Internal Revenue (BIR) has announced that online merchants with earnings amounting to more than P500,000 annually are now subject to a 1-percent withholding tax.

BIR to begin 2nd phase of digitalization program in 2024

The BIR’s 10-year DX Vision 2030 digitalization program first phase covers 2020 to 2023 and focuses on building the foundation of the DX program. Phase two will take place from 2024 to 2030.

BIR: Senior citizens, PWD discounts mandatory for online transactions

The BIR also stated that the signature of the SC/PWD is not required if the qualified purchase was made online or through mobile applications. However, the SC/PWD identification card number should still be provided.

E-commerce firms urged to comply with BIR’s new e-invoicing system

Lawyer Rule Oporto, a tax expert and senior director for business tax services at SGV & Co., has urged businesses engaged in exports and e-commerce to comply with the invoicing requirements as the Bureau of Internal Revenue (BIR) is expanding the coverage of its electronic invoicing system (EIC) implementation.

Expert: Improve PH tax law to capture revenues from digital transactions

A UP Law professor explained that the current tax system was developed for brick-and-mortar or traditional businesses with a physical location and is not applicable for e-commerce firms.

BIR stresses need for taxation in digital economy

BIR deputy commissioner Marissa Cabreros has stressed the need for taxation in the digital economy to level the playing field between traditional enterprises and digital businesses as the economy shifts from brick-and-mortar to virtual.

As ITR deadline nears, taxpayers urged to use e-filing and payment system

The BIR has issued a circular which provides the guidelines for the filing of the annual income tax returns and the payment of the corresponding taxes with any authorized agent banks and revenue collection officers without the imposition of penalties for wrong venue filing.

BIR adds more features to its online registration system

The BIR said that online updating of registration information as well as other registration-related transactions can now be conducted through its new Online Registration and Update System (ORUS).

BIR chatbot gets a major revamp 

In June of 2021, the country’s Bureau of Internal Revenue (BIR) launched a 24/7 chatbot application powered by the Oracle Digital Assistant platform to provide taxpayers and stakeholders access to information on frequently asked questions (FAQs) or contact to live agents that can provide clarifications on the answers supplied by the digital assistant.  

BIR, BOC ramping up digitalization to curb corruption

Department of Finance (DOF) secretary Benjamin Diokno identified digitalization as the key in transforming and eradicating corruption within the government’s two main revenue agencies.
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