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Draft RMC Re-Online Transactions v.10.23.12

Draft RMC Re-Online Transactions v.10.23.12

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Published by Janette Toral
The Burea of Internal Revenue discussed this draft RMC at a briefing last October 30 at Bureau of Internal Revenue and getting inputs from online sellers.

Members of DigitalFilipinoClub.com will give their inputs to Janette Toral on or before November 7, 2012 for consolidation and shall be transmitted to BIR on November 8, 2012.
The Burea of Internal Revenue discussed this draft RMC at a briefing last October 30 at Bureau of Internal Revenue and getting inputs from online sellers.

Members of DigitalFilipinoClub.com will give their inputs to Janette Toral on or before November 7, 2012 for consolidation and shall be transmitted to BIR on November 8, 2012.

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Categories:Business/Law
Published by: Janette Toral on Oct 31, 2012
Copyright:Attribution Non-commercial

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12/31/2012

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REPUBLICOFTHEPHILIPPINESDEPARTMENTOFFINANCE
BUREAUOFINTERNALREVENUE
QuezonCityOctober22,2012
REVENUEMEMORANDUMCIRCULARNO._______
SUBJECT:ReiteratesTaxpayers’ObligationsinRelationtoOnlineBusinessTransactionsTO:AllInternalRevenueOfficers,EmployeesandOthersConcerned. ______________________________________________________________________________Withtheadventofnewerandfastertechnologies,andtheadvancementinthecommercialuseoftheworldwideweb,theinternethasbecomethevoguemediumnotonlyforbusinessadvertisementsbutfortheconductofretailingwhichhasgivenwaytothesignificantgrowthofthevirtualshoppingmalloronlinemarketplaces/webstores.Alotofconsumersarevisitingsaidsites,andaredoingtheirshoppingonlineprimarilybecauseofitshighlevelofconveniencesinceshoppingcanbedonewithintheconfinesofthehome,officeorinternetcafe.Inviewofthevolumeofonlineshopperswhichspuntheindustryintoabigbusiness,ithasbecomeimperativetoremindthepartiesintheinternetbusinesstransactionsoftheirtaxobligations,hencethiscircular.Forbetterunderstandingoftheelectronicbusinessindustry,thefollowingaresomeofthesignificanttypesofonlinetransactions:1.
 
Onlineshoppingoronlineretailing-aformofelectroniccommercewherebyconsumersdirectlybuygoodsorservicesfromasellerovertheInternetwithoutanintermediaryservice.Anonlineshop,eshop,e-store,Internetshop,webshop,webstore,onlinestore,orvirtualstoreevokesthephysicalanalogyofbuyingproductsorservicesatabricks-and-mortar,retailerorshoppingcenter.(source:Wikipedia)2.
 
Onlineintermediaryservice-Anintermediary(orgo-between)isathirdpartythatoffers
intermediation
servicesbetweentwotradingparties.The
intermediary 
actsasaconduitforgoodsorservicesofferedbyasuppliertoaconsumer.(source:Wikipedia)Consumersbuygoodsorservicesfromanintermediaryserviceproviderwhoreceivescommissionfromthemerchant/retailer.3.
 
Onlineadvertisement/classifiedads(transactionalfee)-Onlineadvertisingisaformofpromotionthatusestheinternetandworldwidewebtodelivermarketingmessagestoattractcustomers.(source:Wikipedia)
Thefirstadvertisementissometimesgivenfor

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