Are you into online barter trade?
warned Filipinos against engaging in the “online barter trade” amid the novel coronavirus pandemic because it is not taxed.Marketing firm iPrice Group found a resurgence of the age-old practice within social media communities, wherein a surprising 407% search volume was found in Google for the term from April to May.
Similar to online selling, this was seen as an alternative option for Filipinos whose livelihood were affected during the duration of the strict lockdown, which was part of the national government’s measures to supposedly curb the spread of COVID-19.said that such activity is illegal because it is not taxed.
Lopez cited the provinces of Sulu, Tawi-Tawi and Jolo in Mindanao as the only places where barter is allowed and legal. “Mayroon po tayong mga na-allow na barter trade according to the EO issued by the President. Very limited po iyan sa Sulu—Jolo, at Tawi-Tawi. Pero po sa ibang lugar ay hindi po allowed iyong barter trade. At saka kailangan ho, ano pa, iyong regular transaction tayo diyan at saka dapat ho ay may tax na binabayaran,” heLopez explained that barter is allowed in selected places in Mindanao because of the “nature” of their livelihood, particularly those near the coastal waters.
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