#tax

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. We can actually earn, when we report fellow citizens who seem to be evading taxes),” Abrea told One News. 2338 of Informer’s Reward Law was enacted to help the BIR and Bureau of Customs (BOC) run after tax cheats, tax evaders, and smugglers. This law awards 15% of the amount recovered to any person "who voluntarily gives definite information to the BIR and BOC on any tax fraud or smuggling case which results in the recovery of revenues, surcharges or fees and/or conviction of the guilty party." However, the said law was modified when the Tax Reform Act of 1997 (RA 8424) was enacted. 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. Ford Philippines has announced their new price list for 2018 in accordance with the Tax Reform for Acceleration and Inclusion (TRAIN) package. Read more in our articles including "Reporting tax-evading social media influencers could get you PHP 1M reward" and "Ford Philippines Car Prices for 2018".