The Bureau of Internal Revenue (BIR) has released its memorandum setting the guidelines on the taxation of any income received by social media influencers.
The BIR has released the memo following reports that social media influencers receive huge income from different platforms.
Last year, the BIR has ordered online sellers to register with them until July 30.
Filmmakers, bloggers, content creators were also told to register as business entities.
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In a memo on August 16, 2021, the agency reminded the proper taxation for social media influencers.
The BIR identified possible sources of income by influencers (mostly vloggers/YouTubers). They also provide computations on how much of their incomes taxable.
The memo is also encouraging tax officers to “conduct a full-blown tax investigation against social media influencers residing and/or registered within their respective jurisdictions.” (TDT)
