Calling all bloggers, vloggers, influencers and other digital content creators: If you’re earning from ads, a recent memorandum is now requiring you to register to the Bureau of Internal Revenue (BIR).
As part of the Revenue Memorandum 60-2020, the bureau’s announcement details that those conducting business online are required to register not later than July 31. However, this doesn’t just count online sellers and the e-commerce industry. BIR’s Deputy Commissioner Arnel Guballa also included bloggers, filmmakers, content creators and other independent creative professionals among the list.
The memorandum identified those required to register:
Concerns were previously raised for the requirement’s possible effects to small-scale business owners. However, emerging creatives don’t have to fret. In keeping with the Department of Trade and Industry’s exemption, those earning below P250,000 a year won’t have to pay income tax.
For those thinking about jumping into the freelancing life, check out our guide to getting that sweet, sweet official receipt.
The young freelancer’s guide to obtaining an Official Receipt
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Art by Kloie Ledesma