OTHERWISE THEY FACE PENALTIES
By Mortz C. Ortigoza
Those traders who are into digital transactions but are not registered with the Bureau of Internal Revenue are given an extension to register up to the end of this month.
“The deadline for the registration of those into digital transaction discussed under RMC No. 60. 2020 which extention was only up to August 30 this year,” Region-1 Regional Head of the Taxpayer Assistance Unit Chief Lee Caday quoted Revenue Memorandum Circular No. 92-2020 signed by BIR Commissioner Caesar R. Dulay.
He said that Commissioner Dulay saw a surge of registrants in various revenue district offices that wanted to beat the deadline.
RMC No. 60-2020, titled as “Obligations of Persons Conducting Business Transactions Through Any Forms of Electronic Media, and Notice to Unregistered Businesses”, meant to give notice to all the people doing business and earning income in any manner or form, specifically for those who are into digital transactions- E-commerce. These do not only include partner sellers or merchants, but also the stakeholders involved such as the payment gateways, delivery channels, internet service providers, and other facilitators.
Caday said that those who will beat the September 30 extension will not be penalized as imposed by law to those late registrants.
He said those who will be found later doing business without complying with the registration and update requirement and those who failed to seek past due taxes shall be imposed with the applicable penalties under the National Internal Revenue Code, the laws, and rules and regulations.
The newly-registered business entities, including existing registrants are advised to comply with the provisions of the Tax Code and other applicable tax revenue issuance, particularly on the following:
Issuance of registered Sales Invoice or Official Receipt for every sale of goods and services
Keep a registered Books of Accounts and other accounting records of business transactions
Withholding of taxes (if applicable)
Filing of required tax returns
Payment of correct tax dues on time
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