The Bureau of Internal Revenue (BIR) reminds Social Media influencers, YouTubers to pay taxes. The BIR defines social media influencers as those generating income for services as bloggers and video bloggers on social media sites such as YouTube, Facebook, Instagram, Twitter, TikTok, Reddit, and Snapchat.
BIR then released a memorandum regarding taxation of any income received by social media influencers. This was released after the BIR has received numerous reports about huge income derived from social media. This new memo, dated August 16, 2021, is a reminder to all BIR officers and clarifies the proper taxation for social media influencers.
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