The Bureau of Internal Revenue (BIR) in the Philippines has issued a draft regulation that would impose a 1% creditable withholding tax on half of the gross income payments made by online platform providers to suppliers of goods and services. The proposed regulation aims to capture information on sellers of goods and services who are obliged to declare their income resulting from these transactions for tax purposes. The regulation is open for comments until May 2, 2023.
Source Orbitax
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