Department of Trade and Industry (DTI) undersecretary Ruth Castelo told a Senate hearing that the agency has no means to protect consumers from online sellers who cannot be located or do not provide any physical address.
Tag: online seller
The Department of Trade and Industry (DTI) reported that business name registration of online businesses boomed from 1,753 in January-March 15 this year — or before the declaration of the community quarantine — to 75,876 as of September 2.
Under the proposed law, the DTI shall have regulatory powers to take down or issue cease-and-desist orders against websites selling illegal or dangerous products or services.
The Department of Trade and Industry the number of registered online businesses surged from more than 1,600 online businesses that registered for the whole of 2019.
The DTI said 10,323 online complaints were received by the agency in January to June of this year.
The Securities and Exchange Commission has warned the public against individuals and groups engaged in unauthorized activities such as investment-taking in the guise of cryptocurrency trading and online selling.
Instead of slapping new taxes, Sen. Sherwin Gatchalian also prodded the government to extend fresh capital and other financial assistance to budding online entrepreneurs.
The Bureau of Internal Revenue (BIR) said online business owners won’t pay taxes if their earnings do not exceed P250,000 annually.