The Bureau of Internal Revenue (BIR) has extended the deadline of business registration for online sellers.
Based on the Memorandum Circular issued by the BIR, the deadline has been extended until the end of August. The agency reminds that the registration is important to be tax compliant in accordance with section 236 of the Tax Code.
It is also stated in the law that those who will not comply with the registration, update their requirements, declare their past transactions and unpaid taxes will be fined while those who will voluntarily declare past transactions and unpaid taxes may pay without any penalties.
-PTV News
