Revenue Memorandum Circular (RMC) 97-2021
What are the tax obligations of social media influencers (SMIs)? What if their income is received from overseas? What happens if they fail to pay their taxes? Read below and learn more about RMC 97-2021 and find out how the tax residency certificate of SMIs can ease their tax burden:
Republic Act (R.A) No. 11127 or the “National Payment Systems Act” and BangkoSentral ng Pilipinas (BSP) Circular No. 1049
HEADNOTE: Encapsulating highlights of National Payment Systems Act, the rules andregulations on registration of operators of payment systems (OPS), directives onoperating payment system without registration, and defines the violations, fines,and penalties under the Act. ATTENTION: Any person who is treated as an operator by providing clearing and settlement services in a payment system and those who define […]
REVENUE MEMORANDUM CIRCULAR (RMC) NO. 97 2021
This issuance covers the tax liability of social media influencers, allowable deductions, tax compliance, and effects of taxes withheld in other countries of which they can opt to report under EITR (8% Income Tax Rate), 40% OSD (Optional Standard Deduction), and GITR (Graduated Income Tax Rate) regime. WHO ARE SOCIAL MEDIA INFLUENCERS The term “social […]
Babylon2K System Maintenance (August 21, 2021 – 4PM Manila Time until August 22, 2021 8AM Manila Time)
Dear Valued Clients, Specialists and Partners in the Industry, Our platform, Babylon2k has undergone major improvements over the past 6 months. Soon we shall launch key features that will enhance your needs for your respective businesses in a touch of a button. In line with this, please be advised that starting August 21, 2021 – 4PM […]
Launching Taxes For Space Tourism
By Rene A. Martin Billionaires like Richard Branson, Jeff Bezos, and Elon Musk have shown everyone that space travel can be safe and commercially possible. Given its fiscal potential, it is a fact that there’s money and business in space tourism– and when there’s profit, taxes will necessarily come into play. Starting from US$250,000, people […]