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While the new BIR circular may cause some confusion and anxiety, the reality is that there's no need to worry.
The Bureau of Internal Revenue issued Revenue Memorandum Circular 97-2021 earlier this month. The circular essentially clarifies the income generated by so-called social media influencers, or those who are earning by producing content through online platforms such as Facebook, Instagram, YouTube, TikTok,
The Senate has agreed at a percentage.
The first time we heard of the vanity tax reform bill was in January, with a lawmaker proposing additional taxes for beauty products and procedures in place of fuel. It was faced with widespread criticism, so much that the representative who proposed
And received support from members of the house of representatives, too.
A 10 to 30 percent increase in the price of beauty products and services might be in the works. Ako Bicol party-list Rep. Rodel Batocabe has proposed a "vanity tax" that will impose additional taxes on cosmetic products and procedures.If approved, it will
Imports below P10000 are now tax-free!
Good news to all shoppers out there! Import goods worth under P10000 are exempted from tariff and taxes starting October 5.According to Customs Administrative Order (CAO) 02-2016, Bureau of Customs Commissioner Nicanor Faeldon said that the order covers imported goods with de