Earning From Digital Ads Will Be Taxed (e.g., Signature Campaign) - page 3.

Bttzed03

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Quote from: Maus0728 on June 19, 2020, 10:47:43 PM

~ I don't know you guys but I am a bit bothered to the imposition of levying tax on online businesses plus nag aalala din ako kung possible din ba na mapatawan ng tax yung mga high payee signature campaign participants especially to those people whose estimated earnings are above ₱ 6,000 per week. Keep in mind na yung mga online businesses na may ₱ 250,000 above per year can be subjected to the collection of tax by legal authorities.

The 250K treshold applies to individuals as well so yes it's possible. You have to keep in mind though that the above 250K refers to taxable net income. Ibig sabihin, gross revenue/income less allowed deductible expenses.

Let's use your example of 6K/week (Approx. 290K/year):

Kung may deductible expenses na 40K, ang taxable net income ay 250K. Tax to be paid = 0
Kung sakali man na walang deductible expenses, ang taxable net income ay 40K. Tax to be paid = 8K for 1 year (667/mo or 167/week)

Maybe this is just me but I won't be bothered paying 167 pesos if I am earning 6K on a weekly basis.

Quote from: Maus0728 on June 19, 2020, 10:47:43 PM

Sumagi lang sa isip ko kasi we are included in the bracket of advertising from an online channel (bitcointalk) though naisip ko din na possible na hindi tayo maapektuhan ng tax kasi most of us are now aware of using SPV (Simple Payment Verification)and/or Non-Custodial bitcoin wallet whereas it can dramatically increase your privacy in terms of making a transaction lalo na kung ang user eh may alam sa basic functionalities like Coin Control. Plus, the use of bitcoin mixer can drastically improve the anonymity of every bitcoin transaction, dagdag mo pa kung gagamit ka ng different OS such as Tails or Linux equipped with TOR or hardened Firefox browser.

Medyo exaggerated lang yung sa privacy part pero important naman yan kung privacy conscious individual kayo when it comes to your bitcoin transaction. Any thoughts?

But then again, if you use centralized platforms that requires KYC to convert crypto to fiat, wala din silbi ang mga privacy/anonymity tools. Hindi pa naman yata ganun kadami ang mga willing sa P2P trades dahil na din sa seguriddad. Mahirap na, sa kakatago mo sa gobyerno eh madisgrasya ka pa.

Quote from: samcrypto on June 20, 2020, 01:59:02 AM

I don't think they can tax all those participants of Signature campaign since this is a decentralized market and its hard for BIR to collect our datas (matrabaho ito). If the digital ads will be taxed, then I'm sure hinde tayo kasama doon so wag muna magpanic. Though maari tayong magkaroon ng income tax thru this market pero mukang malayo pa tayo sa ganoong sitwasyon.

Never be sure kung exempted sa BIR ang pinagkakakitaan mo unless may specific memorandum na nagsasabing exempted nga ito. General rule is lahat ng kinikita natin ay subject to tax.

Quote from: mirakal on June 20, 2020, 04:36:00 AM

~ There is no need to worry, though the general rule is to pay taxes when you earn, but if you can hide it, then why pay.

Tax evasion though.

Strufmbae

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wise man said, Do not issue a Receipt so that you will not be Taxed by the government.

Mind Blown.

just saying Wink

ecnalubma

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Hindi naman natin siguro kailangan mag worry kung below the bracket yung kinikita natin dito tsaka hindi naman regulated ang kitaan dito sa forum, pero sabi na nga ng BIR pwede parin mag file ITR kung below the bracket man ang kinikita ng isang indibidwal.

Mostly ang target kolektahan talaga ng BIR sa ngayon ay ang mga streaming sites at social media platforms na Billions of pesos na ang kinikita nila alone sa bansa lang natin. Kasama narin ang possibleng obligahin magbayad ng buwis niyan ang mga big time na social media influencers na namamayagpag ngayon sa ibat-ibang platform gaya ng Youtube at Facebook.

dothebeats

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Quote from: samcrypto on June 20, 2020, 01:59:02 AM

I don't think they can tax all those participants of Signature campaign since this is a decentralized market and its hard for BIR to collect our datas (matrabaho ito). If the digital ads will be taxed, then I'm sure hinde tayo kasama doon so wag muna magpanic. Though maari tayong magkaroon ng income tax thru this market pero mukang malayo pa tayo sa ganoong sitwasyon.

If asked by BIR, exchanges can submit our data for verification purpose para na rin gayon ay ma-tax nila kung meron mang mai-tatax sa atin. Hindi matrabaho ang magiging proseso kung readily-available naman ang information sa mga exchange, at ang tanging gagawin na lang ng BIR at ng gobyerno ay gumawa ng request letter for such information. Exchanges are expected to comply in these types of situations since hindi naman sila protektado ng bank secrecy law.

Quote from: samcrypto on June 20, 2020, 01:59:02 AM

Besides, yung ginagawa naten is hinde naman negosyo and we can't register since di nga tayo business. Pero wag paren tayo syempre magpakampante and if magkaroon man ng batas, ay mas mabuti nang sumunod kesa mag karoon pa ng problema later on.

Any form of activity done which nets a person some profit is subject to taxation, provided na na-reach mo yung lower limit nung tax bracket. If not, hindi mo naman kailangang magbayad. In my case, I earn less than 20k a month from signature campaigns, at kung imu-multiply mo ito sa 12 months, less than Php 240,000 lamang ito kaya ligtas pa ako sa maaaring gustong gawin ng BIR na 'wag naman sana nilang iimplement.

ice18

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Parang malabo naman na masilip pa ng BIR ang sig camp participants dito kasi di naman karami ang kumikita sa ganitong online income parang extra income na lang ito kung tutuusin kahit pa siguro sa malaki ang bayad like chipmixer talo pa manager ang sahod hehe pero sa tingin ko mahihirapan silang makakuha ang buwis lalo kapag crypto ang involve mahirap i-trace yan sa dami ng ng-oonline business ngayon mahihirapan lang sila diyan.

Rosilito

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I'm not sure kung madadamay 'yong mga signature participants pero sa tingin ko naman hindi. We're livin' in a principle of anonymity here ika nga nila. Dunno how they're going to find out this thing though saka ang complicated kasi 'di naman permanent 'yong ibang signature campaign, and problem agad 'yan if natapos then wala na maipambayad, right?

Kung maku-question man siguro baka ang pagdudahan is 'yong mga local exchange at mga accounts don like kung saan nanggagaling 'yong pera. Sorry sa noob answer Grin

Kaiirita pa naman 'yang tax na 'yan pero need rin naman ng bansa natin sa kabilang banda Cheesy

.

cheezcarls

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Quote from: Maus0728 on June 19, 2020, 10:47:43 PM

Greeting Everyone,

Headline: .BIR requires bloggers, filmmakers, content creators earning from digital ads to register

Quote from: https://www.yugatech.com/news/bir-requires-bloggers-filmmakers-content-creators-to-register/?fbclid=IwAR01l8-CJ6Qy1QUiay3Zh5-2nnvf6yjfBD0gAn7bfw9QKjawaa4wm45OETs#sthash.ZHp8d6H5.dpbs

The Bureau of Internal Revenue (BIR) has recently released the Revenue Memorandum 60-2020, requiring those conducting businesses through the use of any electronic platforms, media, and other digital means to register to the BIR. Yesterday, BIR Deputy Commissioner for Operations Arnel Guballa had identified which digital merchants are required to register. Among those in the list, are bloggers, filmmakers, content creators, and other independent creative professionals earning from digital ads.

e-Commerce platform providers
Internet retailers of consumer goods
Digital service, membership, and subscription
Digital transaction through the use of electronic platforms and media
Online blogging, film maters, earning from advertising gained from their online channels
Ride-hailing services for food, transportation, delivery, or merchandise

The taxation for bloggers, content creators, and other professionals earning through digital ads is similar for online merchants as well, and those earning below PHP 250,000 a year should not pay taxes but are still required to file their annual Income Tax Returns.

I don't know you guys but I am a bit bothered to the imposition of levying tax on online businesses plus nag aalala din ako kung possible din ba na mapatawan ng tax yung mga high payee signature campaign participants especially to those people whose estimated earnings are above ₱ 6,000 per week. Keep in mind na yung mga online businesses na may ₱ 250,000 above per year can be subjected to the collection of tax by legal authorities.

Sumagi lang sa isip ko kasi we are included in the bracket of advertising from an online channel (bitcointalk) though naisip ko din na possible na hindi tayo maapektuhan ng tax kasi most of us are now aware of using SPV (Simple Payment Verification)and/or Non-Custodial bitcoin wallet whereas it can dramatically increase your privacy in terms of making a transaction lalo na kung ang user eh may alam sa basic functionalities like Coin Control. Plus, the use of bitcoin mixer can drastically improve the anonymity of every bitcoin transaction, dagdag mo pa kung gagamit ka ng different OS such as Tails or Linux equipped with TOR or hardened Firefox browser.

Medyo exaggerated lang yung sa privacy part pero important naman yan kung privacy conscious individual kayo when it comes to your bitcoin transaction. Any thoughts?

Halos lahat na lang i-tax nila, kagaya ng US nga ang crypto is already subjected to tax. Although hindi tayo mag wo-worry to be taxed if our annual income is below P250,000, kailangan pa rin mag file ng quarterly tax report at gumastos pa tayu lage para sa accountant. At anytime yung regulated wallets like Coins.PH, Abra and PDAX would enforce user accounts to comply with the taxes.

Anu pa kaya if they are going to tax us for crypto trading at pag receive ng airdrops at bounty hunting, in which napakataas yung market volatility ng Bitcoin at ng cryptocurrency market. Siguro one common reason na bakit ganun na sila is due to this pandemic, and we are suffering economic losses na. Yung utang ng Philippine government masyado na ka laki para lang awayin ang COVID-19.

mirakal

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BIR would not know if we are earning income in signature campaign as we are not employees with the business we are promoting.
In short, there is no employer-employee relationship and we don't even know that businesses whom we work with signature campaign are abiding with the tax laws in their countries.

There is no need to worry, though the general rule is to pay taxes when you earn, but if you can hide it, then why pay.
Besides, signature campaign is not a job, it's only a privilege, anytime they can stop the campaign, they can do it without violating our rights as we don't have any. lol..

Also, how would they know me, I'm mirakal here but in real life, do they know me?

samcrypto

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I don't think they can tax all those participants of Signature campaign since this is a decentralized market and its hard for BIR to collect our datas (matrabaho ito). If the digital ads will be taxed, then I'm sure hinde tayo kasama doon so wag muna magpanic. Though maari tayong magkaroon ng income tax thru this market pero mukang malayo pa tayo sa ganoong sitwasyon.

Besides, yung ginagawa naten is hinde naman negosyo and we can't register since di nga tayo business. Pero wag paren tayo syempre magpakampante and if magkaroon man ng batas, ay mas mabuti nang sumunod kesa mag karoon pa ng problema later on.

Maus0728

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Greeting Everyone,

Headline: .BIR requires bloggers, filmmakers, content creators earning from digital ads to register

Quote from: Bttzed03 on June 22, 2020, 04:00:35 AM

For every reader's reference, here is what the Philippine Tax Code says:

Code:

SEC. 23. General Principles of Income Taxation in the Philippines. - Except when otherwise provided in this Code:

(A)  A citizen of the Philippines residing therein is taxable on all income derived from sources within and without the Philippines;

(B)  A nonresident citizen is taxable only on income derived from sources within the Philippines;

(C)  An individual citizen of the Philippines who is working and deriving income from abroad as an overseas contract worker is taxable only on income derived from sources within the Philippines: Provided, That a seaman who is a citizen of the Philippines and who receives compensation for services rendered abroad as a member of the complement of a vessel engaged exclusively in international trade shall be treated as an overseas contract worker;

(D)  An alien individual, whether a resident or not of the Philippines, is taxable only on income derived from sources within the Philippines;

(E)  A domestic corporation is taxable on all income derived from sources within and without the Philippines; and

(F)  A foreign corporation, whether engaged or not in trade or business in the Philippines, is taxable only on income derived from sources within the Philippines.

Topic: Earning From Digital Ads Will Be Taxed (e.g., Signature Campaign) - page 3. (Read 801 times)