ONLINE sellers who are registered with the Bureau of Internal Revenue (BIR) may avail of government benefits such as loans and subsidies, the Department of Finance (DOF) said Tuesday.
“It’s not only a requirement and an act of good citizenship, it also comes with benefits,” DOF Assistant Secretary Antonio Lambino II said in a televised briefing.
Lambino cited the ongoing Small Business Wage Subsidy (SBWS) program, which has benefitted some three million workers whose employers are compliant with the BIR and Social Security System regulations.
He also said the Department of Trade and Industry also offers low interest loans to enterprises.
The BIR announced last week that it was requiring those into digital transactions to register and declare past transactions, triggering a wave of criticism by several quarters, including some senators who found the policy ill-timed and insensitive amid the COVID-19 pandemic.
Lambino said the policy is not new, adding the BIR memorandum was just a reminder to online businesses, which have grown rapidly during the pandemic, to register.
Online businesses earning less than P250,000 yearly are exempted from paying income tax, he added.
“Hindi po natin layunin na habulin ang lahat ng mga online seller para sa mga taxes due. Ang gusto lang po talaga natin ay masunod iyong batas that is actually applicable to everybody na nagnenegosyo,” Lambino said. (GMA News)
