BIR: Filipino sex workers on OnlyFans must register and pay taxes!

Rapper reports that the BIR says that Philippines-based sex workers on the OnlyFans platform must file their taxes!

BIR: OnlyFans creators must file taxes!

Tax from OnlyFans users!

London-based content subscription service-based platform OnlyFans recently made headlines because of its announcement that it will ban sexually explicit content on its platform this coming October 2021. 

This announcement was met with the backlash that resulted in a major u-turn by the company a week after the first announcement.

OnlyFans currently has over 1.5 Million content creators and has more than 150 Million users worldwide. The platform has paid over USD 5 Billion to creators since its establishment.

Today, August 27, 2021, Rappler reports that Bureau of Internal Revenue (BIR) Deputy Commissioner Marissa Cabreros has said that sex workers selling content on popular platforms like OnlyFans are required to register with the BIR and pay taxes. 

Cabreros also said that "RMC (Revenue Memorandum Circular) 97-2021 clearly refers to all taxpayers, individuals or corporations, receiving income in cash or in-kind using platforms," This memorandum was recently issued by the BIR with the emphasis on influencers and bloggers must pay taxes. Closing one's channel on platforms like YouTube does not absolve one from taxes.

In the same report from Rappler, Cabreros also told tax expert Mon Abrea in a recent online interview that even illegal sources of funds are covered by taxes. BIR can also track payments by asking for data from online platforms.

"The BIR has reiterated several times already that income from all sources is taxable, legal or illegal. As long as there's a flow of income, it shall be subject to tax. That's applicable to all resident citizens. Unless they're abroad, they have to comply," Abrea said in a message to Rappler.

Lastly, the new BIR memorandum has directed regional offices to conduct a "full-blown tax investigation" against social media influencers after the BIR has received reports that certain social media Influencers are not paying their income taxes despite huge earnings from multiple social media platforms.

What do you guys think?

Source: Rappler