The Bureau of Internal Revenue (BIR) has warned that it will issue takedown orders against online sellers who fail to register their businesses and pay the required withholding tax.
BIR Commissioner Romeo Lumagui stated that online businesses could face suspension if they do not comply, aiming to ensure that they are taxed equally to physical stores.
The BIR has already imposed a one percent withholding tax on online platform providers, based on half of their gross remittances to sellers.
Lumagui emphasized that online businesses will be treated similarly to physical stores regarding compliance and enforcement.
The BIR will closely monitor digital platforms like Lazada, Shopee, and TikTok to ensure adherence to registration regulations.
Source: PhilNews24 | September 10, 2024
