economy – Page 49 – Author Carlo Carrasco

National Tourism Development Plan for 2023-2028 approved by Marcos

May 22, 2023May 16, 2023carlocarrasco

In line with the ambition to establish the Philippines as a tourism powerhouse in Asia in the years to come, the National Tourism Development Plan covering the year 2023 until 2028 has been approved by President Ferdinand “Bongbong” Marcos, Jr., according to a GMA Network news report. Take note that as of May 12, 2023, the Philippines has already counted over two million foreign tourist arrivals.

To put things in perspective, posted below is an excerpt from the GMA news article. Some parts in boldface…

President Ferdinand “Bongbong” Marcos Jr. has approved the National Tourism Development Plan for 2023-2028 which will serve as the blueprint of the Philippines’ tourism industry.

This was announced by Tourism Secretary Christina Frasco at a Palace press briefing following a sectoral meeting with the President on Tuesday morning.

“This NTDP is the result of consultation among the tourism coordinating council as well as our various tourism stakeholders from our regions all over the Philippines. The NTDP shall serve as the blueprint and the development framework for the tourism industry for the duration of the Marcos administration,” she said.

Frasco said this plan focuses on giving the country a chance to become a “tourism powerhouse.”

“These objectives involve not simply the promotion of the Philippines which we will continue domestically and internationally but also, more importantly, addressing the essential issues of tourism development, including the development of infrastructure, connectivity, as well as digitalization, the equalization of tourism, development, and promotion, the enhancement of overall tourism experience as well as the strengthening of tourism governance,” she explained.

Frasco said the plan would also serve as a guide for regions across the Philippines “to spread countrywide development through tourism,” adding that this will also provide jobs to Filipinos.

“Mabibigyan po ng pagkakataon ‘yung ating mga kababayan na magkaroon ng tourism employment sa pamamagitan ng pag-develop natin ng tourism circuits and to continue to push for tourism across our regions and provinces,” she said.

DICT support

Meanwhile, Information and Communications Technology Secretary Ivan John Uy promised that the agency would extend support to DOT on this tourism plan, specifically on connection issues.

He said most tourists are also vloggers who are making content about their experience in tourist spots.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines is on its way to becoming an Asian tourism powerhouse in the years ahead? If you own a business that specifically caters to tourists, were able to make significant gains this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Online lending company raided by police for threatening clients

May 22, 2023May 17, 2023carlocarrasco

Are you a Philippine resident who borrowed money from an online lending company and got threatened by them to push you into paying them back? Another company that lends money got raided by the police over complaints from clients who claimed they were threatened, according to a Manila Bulletin news report. The raided company was located in Pasig City.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news article. Some parts in boldface…

An online lending company in Barangay San Miguel, Pasig City was raided by operatives of the Philippine National Police – Anti-Cybercrime Group (ACG) on Tuesday, May 16, for allegedly threatening and harassing its customers who have failed to pay their loans.

The company was identified as Realm Shifters Business Process Outsourcing Services, located along Mercedes Avenue in Barangay San Miguel.

According to the Philippine Association of Loan Shark Victims Inc. (PALSVI), a non-profit organization dedicated to helping loan shark victims, the company is one of the many businesses operating online lending applications (OLA) that harass and threaten users for not paying their debts.

The PNP-ACG conducted the raid in response to the complaints made to their office from the victims of the OLA.

A warrant to search and seize computer data was served by the police to the company during the operation.

Digital forensic examinations to extract data and evidence from the computers, mobile phones, and other devices of the OLA agents are ongoing.

Other incidents of malpractice made by the company are also under further investigation by the police.

Let me end this piece by asking you readers: What is your reaction to this recent development? How many people in your local community got harassed by an online lending firm recently?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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New SBMA chief Tan emphasizes his priority on the ease of doing business and job creation

May 19, 2023May 16, 2023carlocarrasco

In recent times, Jonathan Tan became the new Chairman of the Subic Bay Metropolitan Authority (SBMA) and through his first public interview, he made clear to the people that he is prioritizing the ease of doing business and creating jobs in the Subic Bay Freeport Zone, according to a Manila Bulletin news report. Previously, Tan served as a mayor of Pandan in Antique.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news article. Some parts in boldface…

Jonathan Tan, the newly appointed Subic Bay Metropolitan Authority (SBMA) chairman and administrator, said he is prioritizing further streamlining in the processing of business permits of investors to ensure ease of doing business and create more jobs at the freeport.

In his first public interview at the Laging Handa Public Briefing as SBMA chief, Tan said he will further streamline business processes at the freeport in compliance with President Ferdinand R. Marcos Jr.’s order to attract more foreign investors and create more jobs at the Subic Bay Freeport zone.

Tan, who served as mayor of Pandan, Antique from 2010 to 2019, reported that he highlighted ease of doing business when he met with Subic investors, locators, and stakeholders during his first Townhall meeting Wednesday since he assumed office last week.

“My priority is ease of doing business to ensure faster processes of business permits,” he said telling around 1,000 SBMA stakeholders. He also vowed to make the Townhall Meeting a regular event to thresh out issues and address them faster.

He also vowed of a participatory governance as SBMA chief, promising to consult all Subic Freeport stakeholders and to treat them as partners.

He also mentioned of efforts to improve existing facilities like port rehabilitation as well as tieups with Department of Tourism and stakeholders with resorts. At present, he said, there are several tourist-related activities in Subic, including, water sports, environmental, and ecotourism.

On smuggling, Tan said he has always emphasized to do his best to minimize if not eliminate smuggling in partnership with the Bureau of Customs.

Let me end this piece by asking you readers: What do you think about this recent development? Do you think that the new SBMA chief and his team will be able to make improvements on the business environment of the Freeport?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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RCBC chief economist says that Philippine economic growth target likely to be hit this year

May 15, 2023May 12, 2023carlocarrasco

In light of the recent news that the Philippine economy grew by 6.4% in the first quarter of 2023, the chief economist of Rizal Commercial Banking Corporation (RCBC) says that the nation’s economic target for this year (for references, click here and here) will likely be hit, according to a Philippine News Agency (PNA) news report.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The government’s 6 to 7 percent economic growth target will likely be met this year despite possible effects of El Niño, an economist said on Friday.

Rizal Commercial Banking Corporation chief economist Michael Ricafort told the Philippine News Agency (PNA) that the 6 to 7 percent gross domestic product (GDP) expansion is possible amid easing year-on-year inflation that could help reduce the drag of higher prices on economic growth.

“Fed (US Federal Reserve) and local policy rates could also be reduced later this year and into 2024 amid easing inflation, and as the economy further reopens towards greater normalcy with no more lockdowns as a policy priority,” he said.

Inflation reached as high as 8.7 percent in January. It has however started to decelerate and settled at 6.6 percent in April.

Ricafort said the possible effects of El Niño later this year and up to 2024 could lead to reduced agricultural output and some pick up in prices, “but would not have a significant drag on GDP growth.” he said.

“[Philippine] economic growth [is] expected to be among the fastest-growing in the region and among major economies around the world amid favorable demographics of the country with more than 110 million Filipinos, majority of Filipinos already at working age, (and) young average age of less than 25 years old, all of which would support GDP growth of at least 6%-7% in the coming years,” he said.

He noted that other possible drivers of growth would be increased consumer spending due to lower individual income tax rates, high overseas Filipino workers’ remittances, further increase in government spending, the continued growth of business process outsourcing, and the resumption of foreign tourism.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines will achieve 2023 economic growth between 6% to 7%?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Nuclear Philippines effort moves forward some more

May 9, 2023May 4, 2023carlocarrasco

The potential future of the Philippines adapting nuclear power that will generate clean and abundant energy for the needs of the people and businesses moved a few more steps forward thanks to two key meetings involving the group of President Ferdinand “Bongbong” Marcos, Jr., and notable energy firms, according to a news article by the Philippine News Agency (PNA). This is the latest in the Marcos administration’s effort to adapt nuclear power for the Philippines (click here and here).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

President Ferdinand R. Marcos Jr. is considering using a “cutting-edge” micro nuclear fuel technology to address the country’s power woes, Malacañang said Tuesday.

Marcos met with officials of US-based Ultra Safe Nuclear Corporation (USNC), a vertical integrator of nuclear technologies and services in Washington.

In a news release, the Presidential Communications Office said the Marcos administration has made it a top priority to ensure an unhampered supply of energy alongside the promotion and utilization of renewable energy sources.

Francesco Venneri, CEO of Ultra Safe Nuclear Corporation, expressed interest to bringing clean and reliable nuclear energy to the Philippines, which the firm is seriously considering for its first nuclear energy facility in Southeast Asia. Venneri also vowed to help address the series of blackouts that hit several areas of the country.

The Marcos administration earlier swiftly acted on the power crisis in the provinces with the operation of at least three more power stations to provide 24-hour electricity power service.

“We also note that there’s a great deal of discussion about Mindoro having blackouts and that might be an excellent….a good science [solution],” said Venneri.

The micro modular reactor (MMR) energy system is a fourth-generation nuclear energy system that seeks to deliver safe, clean and cost-effective electricity to users, according to USNC officials.

The MMR is being licensed in Canada and the US and considered the first “fission battery” in commercialization.

The company anticipates eventual heavy demand for its MMRs and its nuclear fuel and envisions the Philippines as its nuclear hub in the region.

Earlier, Oregon-based NuScale Power Corporation expressed interest to invest in the Philippines after a meeting with Marcos in Washington.

The PCO said that NuScale, which is known for developing a safe modular, and scalable small nuclear power system, is expected to invest USD6.5 billion to USD7.5 billion (PHP415.5 billion) to provide 462 megawatts to the country by the early 2030s.

It is clear President Marcos is seriously working to solve the nation’s fragile power supply with a focus on nuclear power and related technologies as potential solutions. Compared to nuclear power, solar and wind power are both unreliable. Those two forms of clean energy – which are the favorites of climate change zealots and Leftists – cannot generate the abundant energy that nuclear power could provide.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that nuclear power in the Philippines will be realized in your lifetime? Do you think it will happen during the term of President Marcos?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Muntinlupa City Government releases over P2.5 million zero-interest loans to local entrepreneurs

April 25, 2023April 25, 2023carlocarrasco

Recently in the progressive city of Muntinlupa, the City Government released zero-interest loans to over one hundred and twenty local entrepreneurs amounting to more than P2.5 million, according to a news report by the Manila Bulletin. This is the latest move by the City Government boost the local economy.

To put things in perspective, posted below is the excerpt from the Manila Bulletin news report. Some parts in boldface…

The Muntinlupa City government released P2.58 million worth of loans with zero interest to local entrepreneurs.

A total of 125 entrepreneurs were the beneficiaries of the city government loans released through the Muntinlupa Entrepreneurship Financing Division (MEFD).

“One of the priorities of the local government is focusing on our home-grown entrepreneurs. This is part of our efforts to boost the local economy,” said Mayor Ruffy Biazon.

The beneficiaries, who are composed of micro, small, and medium-sized enterprises, comprised the 148th batch of the long-running program.

Biazon encouraged the beneficiaries to make the most of this opportunity to improve their business and their way of life.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Do you hope to see the City Government release even more zero-interest loans to local entrepreneurs? If you are running a small business in the city, have you availed of the loans from the City Government?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Maynilad explains why water service interruptions happened in Muntinlupa City

March 31, 2023March 30, 2023carlocarrasco

Recently in the progressive city of Muntinlupa, customers of Maynilad experienced the lack of access to water which reflects the ongoing water service interruptions that also affected others in different cities served by the water concessionaire. As such, Maynilad officials joined Muntinlupa City Mayor Ruffy Biazon in an online talk via Facebook to explain why the water service interruptions have been happening, according to a Manila Bulletin news report.

To put things in perspective, posted below is the excerpt from the Manila Bulletin news report. Some parts in boldface…

Maynilad Water Services Inc. explained that the ongoing water service interruptions (WSI) affecting its customers in Muntinlupa and other areas are due to facility maintenance at the Putatan Water Treatment Plants.

The company has been the target of criticism from irate customers in Muntinlupa for its poor water service.

Recently, Maynilad announced that its “customers in portions of Bacoor City, Cavite City, Imus City, Las Piñas City, Muntinlupa City, Parañaque City, Noveleta, Cavite and Rosario, Cavite will have water service interruption daily starting March 24, 2023 until April 1, 2023.”

“Maynilad will be conducting intensified cleaning of the plants’ filters following the prolonged entry of highly turbid water. This activity will allow the plants to return to normal operations now that turbidity is expected to go down with the end of Amihan season,” it said.

To discuss the problem, the Muntinlupa City government’s Public Information Office invited Maynilad representatives to an online talk on Facebook on March 30.

Mayor Ruffy Biazon and PIO chief Mimi Gonzales invited Maynilad’s Greg Antonio, head of the Water Production Department, and Harold Lopez, head of the Muntinlupa-Las Pinas Business Area.

On the daily water service interruptions, Antonio said this is due to the Amihan season that is causing high water turbidity.

“Same pa rin po yung reason natin. Yung sinasabi nating turbidity or paglabo ng tubig (We still have the same reason. This is due to turbidity or water getting cloudy),” said Antonio.

He said Maynilad has installed silt barriers and membranes at the Putatan Water Treatment Plant.

But he said the turbidity this year is “one for the books.” He said the turbidity in Laguna Lake, the water source for Maynilad’s Putatan plant, is 28 days longer this year compared to previous years.

He said Maynilad has seen that turbidity in Laguna Lake has reached 40 sq. km., which was the maximum area reached by its sampling boat.

However, Antonio said Maynilad has no concrete explanation about the high water turbidity in Laguna Lake.

“Sa ngayon wala pa po kaming concrete basis dun sa cause ng paglabo pero yung evidence lang po nung visual. Yun lang po ang nakikita namin (At present we have no concrete basis on what is causing the water to get cloudy but we only have the visual evidence. That is what we are seeing),” he said.

Maynilad is currently constructing its third water treatment plant in Muntinlupa in Barangay Poblacion.

Antonio said by November this year, the Poblacion plant will operate one-third of its capacity or 50 million liters per day. He said the two water treatment plants in Barangay Putatan are “just enough” to meet the water demand of Maynilad customers.

He said the two Putatan Water Treatment Plants can produce 280 million liters of water per day.

The Poblacion plant, which will have a full capacity of 150 million liters of water per day, will provide water if Maynilad does maintenance work at the Putatan Water Treatment Plants.

Antonio said with the operation of the Poblacion plant by November, there will be no water service interruptions.

“Eto po yung kinakailangan natin to ensure 24 hours provision ng supply po (This is what we need to ensure 24 hours provision of supply),” he said.

Some customers in Muntinlupa have complained why Maynilad has set the supply of water at midnight.

Lopez said that at present, Maynilad’s water production is limited, prompting the company to allocate water supply. He said the allocation depends on the elevation of the area, distance, and demand.

He said the Southville 3 housing project in Barangay Poblacion is the highest and farthest water service area of Maynilad in Muntinlupa.

On the different hours being implemented by Maynilad for its water service interruptions, Lopez said it depends on the water production.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Were you satisfied with the explanations of Maynilad?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Maynilad announces strategy to augment summer water supply

March 30, 2023March 27, 2023carlocarrasco

Are you having any problems with your water supply from Maynilad? The water concessionaire announced new moves to augment water supply for the summer season, according to a BusinessWorld news article.

To put things in perspective, posted below is an excerpt from the BusinessWorld news article. Some parts in boldface…

MAYNILAD Water Services, Inc. has started to implement supply augmentation measures to meet the expected surge in demand this summer, a company official said.

“The water level at Angat Dam is still at a healthy level but given the expected El Niño by the latter half of 2023, Maynilad is concerned that there will be less rainfall to replenish the Angat and Ipo dams,” Maynilad Spokesperson Jennifer C. Rufo told BusinessWorld in a Viber message on Sunday.

Maynilad’s supply augmentation measures include the reactivation of deep wells and the commissioning of modular treatment plants. But these measures are only expected to mitigate the impact of a supply shortage if the dams’ water level continues to decline.

The latest available data from the Metropolitan Waterworks and Sewerage System (MWSS) showed that Angat dam is currently at 204.96 meters, higher than the normal operating level of 192 meters, but lower than 212 meters, which is considered the ideal level to provide an adequate safety margin for supply during dry months.

Angat Dam is the main source of water for Metro Manila, accounting for about 90% of the capital’s potable water.

The west-zone water concessionaire said that it is building a new treatment plant that would bring additional supply starting this year, addressing the possible water supply deficit as population growth continues amid a lack of new water sources.

“Maynilad is now building a new water treatment plant in Muntinlupa, which will yield an additional supply of 150 million liters per day (MLD),” Ms. Rufo said, adding that the facility will produce an initial 50 MLD by year-end. She was referring to the Poblacion water treatment plant in Muntinlupa City.

“For the next five years, we plan to build five new water treatment plants, including some that will source raw water from our sewage treatment plants,” she said.

Ms. Rufo said these new water treatment plants will source supply either from new water or used water that will be treated and made potable again. Maynilad is also planning to source raw water from Kaliwa Dam, which is currently being facilitated by the MWSS.

As of February, MWSS said that the construction of Kaliwa Dam, a crucial dam project that will augment water supply in Metro Manila, is 22% complete. The dam is expected to be completed by the end of 2026, with water supply expected starting in 2027.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think Maynilad’s moves will improve the situation this summer season?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Department of Tourism (DOT) unveils ambitious plan to establish Philippines as a major tourism player in Asia within five years

March 22, 2023March 17, 2023carlocarrasco

Tourism in the Philippines looks bright right now. Recently, the MUEG Bank Ltd. Of Japan expressed that the tourism sector of the Philippines could double this year with the return of Chinese tourists as the factor. For its part, the Department of Tourism (DOT) announced the scrapping of mask wearing and proof of vaccination as requirements in the nation’s tourism enterprises.

Recently, the DOT announced its ambitious plan to transform the nation into a major player in international tourism (specifically within Asia) in the next five years, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Philippines targets to become a tourism powerhouse in Asia in the next five years, Tourism Secretary Christina Frasco said Wednesday.

At the unveiling of the 2023-2028 National Tourism Development Plan (NTDP) during a tourism stakeholders’ summit in Manila, the Department of Tourism (DOT) vowed to “establish a Philippine tourism industry anchored on Filipino culture, heritage and identity, which aims to be sustainable, resilient and competitive in order to transform the Philippines into a tourism powerhouse in Asia.”

The roadmap identified seven measures to achieve this goal, with improving tourism infrastructure and accessibility as one of the priorities.

“The overall target is the transformation of the tourism industry of the Philippines, which is why we have embarked on the objective of not just focusing on the promotion of tourism but more importantly on the development of industry from the ground up focusing not just on our key destinations, but also on our emerging and lesser known destinations,” Frasco said.

“We can only truly transform the Philippine tourism industry if we address the prevailing challenges that we face continually across our regions,” she added.

On connectivity, Frasco said DOT is working with the Department of Transportation to negotiate more routes for air and sea travel.

Under the NTDP, Frasco said DOT would focus on digitalization; enhancement of the overall tourist experience by incentivizing sustainable travel and improving safety and security in destinations, among others.

The agency would also tap local government units in developing more tourist sites and linking emerging ones to key destinations.

She said the government will increase investments in creating “high-value” tourism experiences and announced the May 2023 launch of the Philippine Experience.

The program, which aims to highlight heritage and culture unique to every region in the country, will be piloted in Davao, Ilocos Region, Bicol and Calabarzon.

The program, she said, would include a three to five-day tour packages allowing tourists to experience both well-known and lesser-known destinations in said regions.

Frasco presented the salient points of the NTDP before the country’s top tourism players. The roadmap was first previewed during the Tourism Coordinating Council (TCC) meeting convened in February and would be submitted to President Ferdinand R. Marcos Jr. for approval within the month.

“This NTDP will serve as a blueprint for the strategies on how the Department of Tourism intends to continue and to grow the impact of tourism upon our economy in the next few years. This will be the guidebook of the industry where we put in place mechanisms for sustainability for many many years to come,” Frasco said.

‘Rosy prospects’ – Frasco noted that, even prior to the finalization of NTDP, the DOT has closely collaborated with tourism stakeholders in carrying out the President’s vision through its various plans and programs, citing the most recent awards and nominations received by the Philippines and its tourism destinations.

The DOT has yet to reveal arrival targets for the next five years but earlier said it seeks to reach 4.8 million in foreign visitors by end of 2023.

This follows the positive momentum set in 2022, which successfully closed with 2.65 million visitors that translates to PHP214 billion or roughly USD4 billion in estimated revenues.

“The momentum for recovery and growth has begun. We’ve eased restrictions. We’ve continued to aggressively promote our destinations through the DOT’s constant and unyielding presence in various exhibits in the Philippines and all over the world. And people are traveling now, and are traveling with a vengeance,” Frasco said.

“By promoting the Philippines through the biggest international tourism and trade fairs across Asia and Europe, we are re-introducing the Philippines to the world, and bringing no less than the best of the best of the country and the Filipino people,” she added

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the DOT and all the strategic partners will be able to fulfill all the adjustments needed to transform the Philippines into a major tourist destination? What would you suggest to the DOT to make the tourism experience in the country more efficient and more interesting? Do you think it is time for the DOT to start recognizing local conventions or special events (examples: ToyCon, Trans Sport Show) and start encouraging foreign tourists to attend them?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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BIR targeting online sellers

March 20, 2023March 13, 2023carlocarrasco

If you have been engaging on selling items or services online, you should be aware that the Philippines’ authority on taxation the Bureau of Internal Revenue (BIR) is constantly watching you and it is seeking ways to tax you, according to a BusinessWorld news report. Already the BIR has been communicating with the e-commerce platforms.

To put things in perspective, posted below is an excerpt from the BusinessWorld news article. Some parts in boldface…

THE BUREAU of Internal Revenue (BIR) is looking to collect taxes from online sellers on e-commerce platforms more efficiently.

BIR Commissioner Romeo D. Lumagui said it is difficult to monitor taxes on individual online sellers on e-commerce platforms.

“We’re in constant communication with the platforms, because it’s a challenge to monitor. We’re thinking of ways to approach it because if we look at individual online sellers, it’s a bit difficult. It’s a challenge,” he told reporters on Thursday evening.

Mr. Lumagui said the BIR is prioritizing ways to better collect taxes from online sellers and other new platforms this year.

The pandemic forced many entrepreneurs to shift to online selling using e-commerce platforms like Shopee and Lazada, as well as social media platforms such as Facebook, Instagram and Tiktok.

As of 2022, the Department of Trade and Industry (DTI) estimated there are around two million entities doing business as online sellers.

In 2021, the digital economy contributed 9.6% to the country’s gross domestic product (GDP), or about P1.87 trillion. DigiPinas, the multi-sectoral initiative led by UBX Philippines Corp., earlier said the Philippine digital economy can grow to as much as $150 billion or about P8.3 trillion in the next decade.

Meanwhile, Mr. Lumagui said the BIR will tap social media influencers to help educate the public on the importance of paying taxes.

“They have reach and I think that one way of making people comply with tax obligations is to educate the people since tax is a very complicated topic not easy to understand,” he said, adding the BIR will schedule a dialogue with them.

Mr. Lumagui said the BIR will continue its efforts to collect taxes from social media influencers, since they’re earning income. He noted there are already some who are undergoing tax audits.

“What we want is to dialogue with them that these are your obligations as social media influencers, you’re earning from whatever you’re doing, so this is your responsibility as income earners,” he said.

The BIR said it collected around P44.6 billion worth of tax from online content creators and retail sales at the end of 2021.

Let me end this piece by asking you readers: What is your reaction to this recent development? If you have been selling products or services online for the last twelve months, do you think the BIR’s move with taxing your business will negatively affect Philippine e-commerce as a whole? Have you set aside enough money for potential taxation by the BIR? What is the one thing about online selling that made you stay away from selling through physical establishments like a store?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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