#social media influencer tax philippines

The Bureau of Internal Revenue (BIR) is set to investigate an initial list of 250 social media influencers to check if they have been paying their taxes. In a report to Finance Secretary Carlos Dominguez III, the BIR said that Letters of Authority (LOAs) to conduct the investigation were already issued to social media influencers considered to be "top earners" in their field. The BIR said that social media influencers who earn from posts on digital platforms are classified as self-employed individuals or persons engaged in trade or business as sole proprietors. READ: A closer look at the BIR tax memo for Social Media Influencers “We encourage them to register, and then we have the profiling of over 250 personalities. Under RMC 97-2021, social media influencers should pay income tax and percentage tax or, if applicable, the value-added tax (VAT), as mandated under the National Internal Revenue Code (NIRC) and other existing laws. The Bureau of Internal Revenue (BIR) recently posted a memorandum that clarifies the tax obligations of all social media influencers, individual or corporation. But who are social media influencers in the eyes of the BIR? According to the BIR, they have received reports that certain social media influencers have not been paying their income taxes despite earning huge income from different social platforms. Read more in our articles including "BIR to probe initial 250 top-earning social media influencers" and "A closer look at the BIR tax memo for Social Media Influencers".