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Draft RMC Re-Online Transactions v.1

Draft RMC Re-Online Transactions v.1

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Published by Janette Toral
Annex A of Bureau of Internal Revenue draft Memorandum Circular on "Reiterates Taxpayer's Obligations in Relation to Online Business Transactions". It tackles BIR's understanding of online business transaction types. 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.
Annex A of Bureau of Internal Revenue draft Memorandum Circular on "Reiterates Taxpayer's Obligations in Relation to Online Business Transactions". It tackles BIR's understanding of online business transaction types. 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:Types, Business/Law
Published by: Janette Toral on Oct 31, 2012
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12/04/2012

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ANNEX“A”PartiestoTransactionA.ONLINESHOPPING(Withoutintermediary)Merchant/Retailer
1.
 
Ifpaymentreceivedthrucreditcardcompanies:(a)IssueelectronicallytheBIRregisteredInvoice/ORforthefullamountofthesaletothebuyer;(b)issueacknowledgementreceipttothecreditcardcompanyfortheamountreceived;(c)paythecommissionofcreditcardcompanynetof10%EWT
2.
 
Ifpaymentreceivedthruthebanks:(a)
 
issueInvoice/ORtothebuyerforthepaymentofthegoods/services;(b)issueacknowledgementreceipttothebankfortheamountreceived
3.
 
Ifbuyer’spaymentiscashondeliveryorintheofficeofmerchant(pick-up):IssueeitherelectronicallyormanuallytheBIRregisteredInvoice/ORforthefullamountofthesaletothebuyerBuyer/CustomerPaythepriceofthegoods/servicethru:1.
 
CreditCard-(a)receivethePaymentConfirmation,underthenameofthemerchant,forthepurchasepricechargedbycreditcardcompany;(b)receiveInvoice/ORfromthemerchantupondeliveryofthegoodsorrenderingofservice2.
 
Banks–(a)receivevalidatedcopyofthedepositslipsmadeinthenameofthemerchant;(b)receiveInvoice/ORfromthemerchantupondeliveryofthegoodsorrenderingofservice3.
 
Cashondeliveryorintheofficeofmerchant(pick-up):ReceiveeithertheelectronicormanualregisteredInvoice/ORforthefullamountofpaymentmadetomerchant/retailerPaymentGateways1.
 
CreditCards:(a)
 
IssuePaymentConfirmation(inthenameofthemerchant-seller)forthepurchasepricechargedtobuyer;(b)Remittomerchant-sellerthepriceamountlessEWTof½of1%;(c)receiveagreedcommissionfrommerchant,netofEWTof10%2.
 
Banks(overthecounter):(a)
 
Issuevalidatedbankdepositslipsinthenameofmerchanttothedepositor-buyer;(b)remittheamounttothemerchant3.
 
Cash–whetherondeliveryorintheofficeofmerchant(pick-up):merchanttoissueinvoice/ORtobuyerFreightForwardersIssueORfortheservicefeepaidbythemerchant
 
OnlineWebsiteadministrators(ifthirdparty)IssueORfortheservicefeepaidbythemerchantPartiestoTransactionB.ONLINEINTERMEDIARYSERVICE(WithIntermediary–CommissionBasis)Merchant/Retailer(a)
 
IssueInvoice/ORtointermediaryfortheamountofsaletointermediary;(b)payintermediary’scommissionof30-40%(accordingtoindustryinsider)netof10%EWTonthecommissionIntermediary-Seller1.
 
Ifpaymentreceivedthrucreditcardcompanies:(a)IssueelectronicallyormanuallytheBIRregisteredInvoice/ORtothebuyerforthepurchaseamountcharged(b)issueacknowledgementreceipttothecreditcardcompanyfortheamountreceived;(c)paythecommissionofcreditcardcompanynetof10%EWT2.
 
Ifpaymentreceivedthruthebanks-(a)issueInvoice/ORtothedepositor-buyerforthepaymentofthegoods/services;(b)issueacknowledgementreceipttothebankfortheamountreceived3.
 
Ifbuyer’spaymentiscashondeliveryorintheofficeofmerchant(pick-up):IssueeitherelectronicallyormanuallytheBIRregisteredInvoice/ORforthefullamountofthesaletothebuyerBuyer/CustomerPaythepriceofthegoods/servicethru:1.
 
CreditCard-(a)receivethePaymentConfirmationcreditcardcompany,underthenameoftheintermediary,forthepurchasepricecharged;(b)receiveInvoice/ORfromtheintermediary-sellerupondeliveryofthegoodsorrenderingofservice2.
 
Banks–(a)receivevalidatedcopyofthedepositslipsmadeinthenameoftheintermediary;(b)receiveInvoice/ORfromtheintermediaryupondeliveryofthegoodsorrenderingofservice3.
 
Cashondeliveryorintheofficeofintermediary(pick-up):ReceiveeithertheelectronicormanualregisteredInvoice/ORforthefullamountofpaymentmadetointermediaryPaymentGateways1.
 
CreditCards:(a)IssuePaymentConfirmation,inthenameoftheintermediary-seller,forthepricechargedtobuyer;(b)Remittointermediary-sellerthepriceamountlessEWTof½of1%;(c)receive
 
agreedcommissionfromintermediary-seller,netof10%EWT2.
 
Banks(overthecounter):(a)Issuevalidatedbankdepositslipsinthenameofintermediarytothedepositor-buyer;(b)remittheamounttotheintermediary3.
 
Cash–whetherondeliveryorintheofficeofintermediary(pick-up):intermediarytoissueinvoice/ORtobuyerFreightForwardersIssueORfortheservicefeepaidbytheintermediary-sellerOnlineWebsiteadministrators(ifthirdparty)IssueORfortheservicefeepaidbytheintermediary-sellerPartiestoTransactionC.ONLINE–ADVERTISEMENT(TransactionalFee)Merchant/RetailerA.
 
AsOnlineAdvertiser:(a)
 
Paytheonlineadvertisingentityfortheadvertisingfee,netof2%EWT;(b)receivefromsaidentitytheBIRregisteredelectroniccopyororiginalcopyofmanuallyissuedORfortheamountofadvertisingfeepaid;(c)remittoBIRtheEWTfromtheadvertisingentity
B.
 
AsMerchant/Retailer:1.
 
Ifpaymentreceivedthrucreditcardcompany:(a)IssueelectronicallytheBIRregisteredInvoice/ORforthefullamountofthesaletothebuyer;(b)issueacknowledgementreceipttothecreditcardcompanyfortheamountreceived;(c)paythecommissionofcreditcardcompanynetof10%EWT2.
 
Ifpaymentreceivedthruthebanks:(a)issueacknowledgementreceipttothebankfortheamountreceived;(b)issueInvoice/ORtothebuyerforthepaymentofthegoods/services3.
 
Ifbuyer’spaymentiscashondeliveryorintheofficeofmerchant(pick-up):IssueeitherelectronicallyormanuallytheBIRregisteredInvoice/ORforthefullamountofthesaletothebuyerAdvertisingEntity(a)
 
IssueORtoadvertiser/merchantforthefullamountofadvertisingfee(amountreceivedisnetof2%EWT);(b)receivefromadvertiser/merchantatprescribedtimeaCertificateofCreditableTaxWithheldatSource(Form2307)fortheamountoftaxwithheld

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