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BIR sues 5 individual, business taxpayers for P146-M tax debts

The Bureau of Internal Revenue (BIR) said it has filed separate tax evasion charges against three corporate and two individual taxpayers for allegedly ignoring notices to settle back accounts totalling to more than P146 million.

Bureau of Internal Revenue
In formal complaints submitted to the De ....

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Earning through OnlyFans? BIR says that's taxable

Content creators earning on subscription service OnlyFans are also covered by a Bureau of Internal Revenue (BIR) circular reminding online content creators such as YouTubers and social media influencers of their tax responsibility. ....

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Axie Infinity earnings subject to tax, BIR tells gamers

Axie Infinity earnings subject to tax, BIR tells gamers
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'Pass law exempting Hidilyn's cash prizes from tax,' Roque prods Congress

Hidilyn Diaz’s gold medal-winning lift (Photo from AFP)
Roque made the statement after the Senate expressed its intention to talk to the Bureau of Internal Revenue (BIR) to exempt Diaz from tax following her historic win at the Tokyo 2020 Olympics this week.
In his press briefing on Thursday, July 29, Roque said all Filipinos wanted Diaz to keep the entire prize that she earned after winning the country’s first Olympic Gold.
“Walang Pilipino na gustong buwisan ang mga pabuya na matatanggap ni Hidilyn. Pero alam ko rin po bilang abogado, para magkaroon ng tax exemption, kinakailangan po ng batas (No Filipino wanted to tax the cash incentives that Hidilyn received. But as a lawyer, I know that a law is needed to allow tax exemption),” he said. ....

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Cash gifts, other rewards for Hidilyn Diaz will be tax-exempt, says BIR

Published July 28, 2021, 11:43 AM
Here’s more good news for Filipino weightlifter Hidilyn Diaz.
The Bureau of Internal Revenue (BIR) said cash gifts and other rewards to be received by Diaz–the first Filipino Olympic gold medalist–won’t be subject to income tax.
Hidilyn Diaz shortly after her ‘golden’ moment in the ongoing Tokyo Olympics (Photo by Vincenzo Pinto / AFP)
According to Revenue Deputy Commissioner for Legal Group Marissa Cabreros, prizes bestowed to winners in the quadrennial Olympic games and other amateur competitions are tax exempt under the Tax Code.
She said, however, that prizes coming from the private sector will be subject to a six percent donor’s tax. ....

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