BIR looks after 250 top social media influencers

The Bureau of Internal Revenue (BIR) has conducted an investigation on 250 of the top social media personalities in regards to their tax compliances.

In a report released last Thursday, BIR’s probe took place to check whether they are registered taxpayers and are paying correct taxes. 

This comes following the BIR revenue memorandum circular (97-2021) released a month ago which obliges content creators and influencers to also pay their shares on taxes, including those who are receiving free goods or x-deals; as well as those who derive income from YouTube’s partner program, and engage in sponsored social media posts, blogs, and advertising. Brand ambassadors and affiliate marketers also qualify for this category.

While the BIR did not release names to the press, proving the news story is the issuance of letters of authority to select influencers found to be “top earners” in their field, as per Bureau report to the Department of Finance.

While the news may sound alarming to content creators and even taxpayers in general, fret not, however, as Asian Consulting group is ready to assist you when it comes to a crisis like this. ACG provides strategic and technology-driven solutions to fix tax problems, without any compromises.

In line with this, we in ACG are offering FREE tax assistance and consulting services, plus a 10 percent discount for all of its services during our anniversary month! Scan the QR code below to find out more.

Addt’l Sources: Rivas, R. (Sept. 16, 2021). BIR probes 250 social media influencers for tax compliance. Rappler. https://www.rappler.com/business/bir-probes-hundreds-social-media-influencers-tax-compliance

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