BIG NEWS for Online Sellers! ππΌ
Are you an online seller but not registered with the BIR? π€πΈ
π’ TikTok and e-market platforms may stop your new product listings or income withdrawals if you're not BIR-registered! β οΈπ«
βοΈ All local online sellers are required to register with the Bureau of Internal Revenue (BIR) and have their Certificate of Registration (COR). βοΈ
π Steps to get your COR:
1οΈβ£ Register with the Department of Trade and Industry (DTI) for business name registration.
2οΈβ£ Register online for BIR certification.
3οΈβ£ If your gross revenue is 500k or below, you're exempt from withholding tax. Just file a sworn declaration for tax exemption if your online business is purely charitable.
π‘ Although there's a deduction for tax, contributing to community development through tax contributions is a positive aspect. π‘
π Register now to ensure compliance, build trust, and foster business growth! π
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