DTI eyes online barter traders, encourages businesses to register - Android

Department of Trade and Industry has reiterated that online barter trade is illegal, as it’s against the tax law. Instead, online sellers are encouraged...

The post DTI eyes online barter traders, encourages businesses to register appeared first on YugaTech | Philippines Tech News & Reviews.

Department of Trade and Industry has reiterated that online barter trade is illegal, as it’s against the tax law. Instead, online sellers are encouraged to register to both the DTI and the Bureau of Internal Revenue.

While barter trading is allowed in some parts of Mindanao, such as Sulu and Tawi-Tawi, it’s illegal everywhere else in the country. Online trading, like regular transactions, should still pay taxes. The DTI will now look into online barter trade, as Trade Secretary Ramon Lopez said, “Diyan po umaaksyon naman po yung team, yung composite team ng DTI, at ng PNP, NBI.”

Additionally, Lopez discourages consumers from buying from unregistered sellers on social media, and only patronize sellers on major platforms such as Lazada, Shopee, and Zalora. He said, “Huwag po tayong bibili sa mga hindi natin kilala, o nagbebenta lang sa Facebook o Instagram.” By purchasing from DTI registered businesses, the department can help consumers in case the purchased products are defective.

Via ABS-CBN

The post DTI eyes online barter traders, encourages businesses to register appeared first on YugaTech | Philippines Tech News & Reviews.