Tisay Ulam's video: Online seller taxed BIR online seller tax lahat nang online seller mag babayad nang tax 2020

Ihttps://youtu.be/uJWJpJMQUUs I’ve read some worried posts about BIR’s move to tax people earning thru digital or electronic means (online selling among others) but if in any way this can help ease your weary minds - our TRAIN law has actually revamped the old tax schedule which means that currently only those with Net Taxable Income in excess of P250,000.00 yearly will be taxed... That means on average those earning less than or equal to P 20,833.33 monthly will have 0% tax rate unlike in the old law as shown in the last pic. Please note that the P250,000 threshold is net taxable income, your total sales/receipts would still need to be reduced with expenses or should you avail of the optional standard deduction of 40% of your sales or receipts before it becomes net taxable income. So meaning chances nga ma taxan mo is mas mo gamay. Should you breach the amount there is also an option for you for an 8% tax on gross receipts or sales in excess of P250,000.00. I believe you may also avail of the tax exemptions under Republic Act No. 9178, or the Baranggay Micro Business Enterprise (BMBE) Law which gives BMBEs Exemption from Taxes and Fees for income arising from the operations of the enterprise. With regards to business taxes due to LGUs since you will be required to formally register the business, as stated above under BMBE law you may ask them if they have reduced tax or exemptions for small/micro businesses. The effect of this move is mostly on having to process registration for your online business and making the necessarily filing of documents. Of course some will be affected and would have to be required to pay tax, but if you are earning above P250,000.00 yearly on your business or online occupation I think that is only fair considering that everyone else working or earning above that threshold are paying taxes... What we want to help are those who are really earning less and would only want to supplement their income so they can support their families better. Ito na yung mars 🤣... This post is not intended to mean small online sellers are without tax liability. I meant to post it to let you know nga your liability is not what you think it is. You would still need to pay percentage tax of 3% based on your gross sales or receipts but i think that’s not much. Ex. if you earn P 10,000.00 you would need to py percentage tax of P 300 only.