BIR Requests New Policies to Tax the ‘Digital’ Economy

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Marissa Cabreros, Deputy Commissioner of the Bureau of Internal Revenue (BIR) Legal Group said that to effectively tax the digital economy, an appropriate and legal framework must be in place.

This was emphasized on the webinar, “Taxation of Digital Economy and Costs and Benefits of Customs Duties Moratorium on Electronic Transmissions”, which featured two (2) PIDS studies, namely, “Emerging Tax Issues in the Digital Economy” and “Costs and Benefits of New Disciplines on Electronic Commerce”.

The Deputy Commissioner also explained that authorities must create policies that are suited to the Philippines, implying that these measures should not be just copies from the policies of other countries.

“The digital economy and the digitalization of the economy gave birth to new type of business entities and new business models that challenge the application of the current provisions of the Tax code, which has been anchored and designed under a ‘brick-and-mortar’ or traditional way of doing business and reporting”, the Deputy Commissioner said.

Cabreros said the traditional way of doing business and reporting is not applicable in the digital economy doing transactions. She mentioned agencies like the BIR, Bureau of Customs, Department of Trade and Industry, National Telecommunications Commission, and Department of Information and Communications Technology as the departments that would take a significant role in crafting the policies.

Source: Newsbytes

This article is published on BitPinas: BIR Requests New Policies to Tax the ‘Digital’ Economy

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[…] This article is published on BitPinas: BIR Requests New Policies to Tax the ‘Digital’ Economy […]

[…] This article is published on BitPinas: BIR Requests New Policies to Tax the ‘Digital’ Economy […]

[…] This article is published on BitPinas: BIR Requests New Policies to Tax the ‘Digital’ Economy […]

franz

wag niyo na po pakelaman yung crypto di pa ba sapat yung nakulimbat niyo na pera sa iba

BIR

PUTANNNGINA NINYO BIR

Babygie

Good morning. We all know that axie infinity is spreading faster in the Philippines. My question is should axie players pay tax in BIR or not?

Burubuduts

In a perfect world. Yes you should pay your tax. Pero that’s in a perfect world 😀 hahahaha

dut3rtiti

mga mukang pera talaga BIR sige lang di naman kayo sa langit pupunta pag nategi na kayp.

[…] “The digital economy and the digitalization of the economy gave birth to new type of business entities and new business models that challenge the application of the current provisions of the Tax code, which has been anchored and designed under a ‘brick-and-mortar’ or traditional way of doing business and reporting”, the Deputy Commissioner said. (Read More) […]

[…] “The digital economy and the digitalization of the economy gave birth to new type of business entities and new business models that challenge the application of the current provisions of the Tax code, which has been anchored and designed under a ‘brick-and-mortar’ or traditional way of doing business and reporting”, the Deputy Commissioner said. (Read More) […]

anonymous

the people who earns millions of peso are not even paying a dime for tax! samantalanv kaming mga empleyado imbes na ibili namin ng bigas para sa mga pamilya namen na sapat para sa isang buwan e sapilitang ikakaltas ng gobyerno? nasaan ang hustisya???? sila na mga namumuhunan at kumukita ng limpak limpak na salapi sa paglalaro lang eh hindi nyo magawang kaltasan ng buwis? nasaan ang ipinagmamalaki ninyong anti tax evation law??? wake up, masyadong unfair ito para sa mga kagaya naming mga empleyado na ang ikinakaltas ninyong buwis eh galing sa sariling dugot pawis namin sa pagtatrabaho!!! napakabulok talaga ng gobyerno ng pilipinas!

Jhay

Lol mo edi maglaro ka

Sean Millare

Sean is a full-time trader who started exploring & investing in cryptocurrency in 2015 when he was still a college student.