Senator Nancy Binay proposes a tax for "online influencers" saying that it is already an underground economy. Should they really be taxed and what are the realities for online influencers? In a quest of the government to raise funds, this topic once again resurfaced.
How much do online influencers really earn? Is it really an underground economy? Actually the fee for an influencer defends on the number of followers as well as the personal creed of an influencer. Those with a good number of following surely charges more than those with a meager or just an average following.
Personally, I do not earn much from blogging and writing. Most of the perks I get comes by way of free food, free accomodation, free gadgets and the likes. The fee which I get once in a while is just very small - let us say about Php3,000 a month on average.
Should online influencers be taxed?
I believe that if there is a decent amount of money being earned online, say Php10,000 above per month on a regular basis they I would agree to tax it. Say about 5% - 10% at the most. A withholding tax for cash payments can also be implemented but I hope that it is minimal say around 5% - 10% at the most.
Everyone, should also pay income tax and since full time influencers gets their income through online sources then they should declare it even without a lwa. Tax regulations specifically required declaration of income from all possible sources right? So that already includes online income.
As to registration of online influencers, I doubt that it is necessary unless they are operating as ac company.
What about you? What is your take on this?
Reference: ABS-CBN News
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