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The Bureau of Internal Revenue (BIR) has announced its clamp down on content creators. The BIR is set to conduct an investigation on Filipino and foreign content creators with Philippine-based content.
The probe will cover content creators and influencers from YouTube, Facebook, Instagram, Twitter, TikTok, Reddit, and Snapchat, and other platforms.
As you might have heard, a lot of foreigners currently make a lot of cash by targeting Filipinos especially on Youtube and Facebook. This practice has since been called Pinoybaiting, and it works. Pinoybait content drives up viewership and engagement like crazy.
Foreign content creators will have to prove that their content was not made specifically inside the Philippines if they want to avoid the ire of the BIR. Meanwhile, any content made by Pinoy content creators, whether based in the Philippines or not, is taxable by the BIR.
The good news is that filmmaking and other production expenses are tax deductible.
Right now, the situation isn’t any different from when the BIR imposed a uniform tax on television artists and celebrities back in 2003.
Online sellers are also reminded that they too are supposed to be declaring their taxes.
So whatever platform you are on, it might be time to get an accountant or a lawyer. Tax evasion in the Philippines is punishable by 6 to 10 years of imprisonment, as well as a fine not less than P500,000 but not more than P10 million.
Put your phone down flip it and reverse it
Samsung presented the newest commercial iteration of their flip and fold phones early this month.
The Galaxy Z Fold3 and Z Flip3 are now available for pre-order in the Philippines.
We are far from the days when it was just Samsung vs Apple.
Xiaomi took the number two spot from Apple, with Oppo and Vivo combined not far behind by selling phones with flagship features for a lower price tag. The three Chinese phone manufacturers targeted entry-level markets rather than competing with the Apple and Samsung’s flagships models.
Quick News
- Smart has released their 5G sim which completes 5G availability from all Philippine telecom players. Remember though you still have to make sure your phone is 5G capable.
- The Philippines rose a few spots in Ookla’s Speedtest Global Index. The country is now ranked 75th in the world for mobile speed, which is 2 spots above from before. For fixed connections, we are now ranked 62nd, improving 3 places. It has been 11 straight months that the Philippines has been improving internet speeds after providers upgraded their systems and networks.
- Malls may soon become warehouses, according to a property expert, as malls continue to decline in terms of foot traffic because of the pandemic. The signs point to major changes as mall giants Ayala and SM secured their investments for their brands’ transition to ecommerce platforms.
- The deadline for voter registration is on September 30, 2021. The Comelec says no more extensions so don’t forget to register!
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