The Department of Trade and Industry (DTI) clarified on Wednesday the recent statement of Secretary Ramon Lopez on online barter.
“Iyong sinasabi ni Secretary Lopez na illegal, if it’s done in a course of business…dahil may taxes na kasama iyon (Secretary Lopez referred to it as illegal if it is done in a course of business…because taxes are involved),” DTI USec. Ruth Castelo explained.
“Pero (But) if it’s personal like example secondhand items, personal items, that you would trade, with your friends or with your community, that’s allowed,” Castelo added.
The DTI clarified that online contrabands, weapons, drugs, and prescribed medicine are prohibited in the said practice. Products and services in the barter system will not be taxed as long as no money is involved and the worth of exchange will not exceed Php 3 million. The department will continue to monitor barter transactions to ensure that no one will be taken advantage of. – Report from Cleizl Pardilla
