With the Bureau of Internal Revenue(BIR) estimating six million operating digital merchants in the country, covering the small, medium, and large businesses, the agency requires online business operators to register for income tax. Under Revenue Memorandum Order No. 30-2020, signed BIR Deputy Commissioner for Operations Arnel Guballa, the following entities are required to sign up with the agency:
According to Guballa, only those earning more than P250,000 annually are required to pay income tax. If you’re under the threshold, do take note that you still need to register your business platform. The registration fee is P500 while the documentary stamp tax costs P30.
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