THE Bureau of Internal Revenue (BIR) will investigate an initial list of 250 social media "influencers" to see if they have been paying their taxes, according to the Department of Finance (DoF).
In a statement on Thursday, the DoF said the BIR informed Finance Secretary Carlos Dominguez 3rd that letters of authority for the conduct of investigations had been issued to certain social media influencers identified as "top earners" in their fields.
"We encourage them to register, and then we have the profiling of over 250 personalities. We will do the investigation so that they would pay the necessary corresponding tax on their earnings," BIR Deputy Commissioner Arnel Guballa was quoted as saying in his report to Dominguez.
The tax agency previously said in Revenue Memorandum Circular 97-2021 that it will pursue unregistered social media personalities and demand that they pay taxes on money earned from brand and product endorsements.
The bureau has taken action following accusations that certain social media celebrities are not paying their income taxes while receiving substantial quantities of money from various social media sites.
It said social media influencers "include all taxpayers, individuals or corporations, receiving income, in cash or in kind, from any social media sites and platforms (YouTube, Facebook, Instagram,Twitter, TikTok, Reddit, Snapchat, among others) in exchange for services performed as bloggers, video bloggers or 'vloggers' or as an influencer, in...
Read Full Story: https://www.manilatimes.net/2021/09/16/news/bir-to-investigate-250-social-media-influencers-dof/1814970
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