#Tax-evading social media influencers

Those who will report a social media influencer who does not pay taxes could receive up to PHP 1 million in reward from the government, said tax expert and former Bureau of Internal Revenue (BIR) examiner Mon Abrea. To recall, the BIR has recently released Revenue Memorandum Circular 97-2021, reminding all social media influencers, individuals or corporations, of their tax obligations. In the memo signed by Commissioner Caesar Dulay, the BIR mentioned the agency has been receiving reports that certain influencers have not been paying their income taxes despite earning huge income from the different social media platforms. A new social media platform called ZOOP is set to launch globally this April. A United Nations-backed report released on Thursday said heavy social media use is linked to lower wellbeing among young people in several countries, while Finland remains the happiest country in the world for the ninth year in a row. The report also showed that the effects of social media are mixed. Experts said the impact depends on how social media is used, the platform, and personal factors like gender and income. A new bill filed in the Philippine House of Representatives seeks to ban people under 16 years old from using social media platforms. Read more in our articles including "Reporting tax-evading social media influencers could get you PHP 1M reward" and "Social media platform ZOOP to launch globally".