News Legacy
AdvocatesTV
July 14, 2020
DTI to hunt down people engaged in online barter trade
Updated story in this link: https://www.advocatesomi.com/news/dti-personal-barter-transactions-are-tax-exempt
Trade and Industry (DTI) Secretary Ramon Lopez has warned the public against engaging in online barter trade.
“Bawal po ‘yan dahil labag po yan sa tax law,” Lopez said during Tuesday’s Laging Handa press conference.
He said a team composed of the Philippine National Police (PNP) and the National Bureau of Investigation (NBI) will hunt down people who are into online barter trade.
He emphasized that exchange of goods and services is only allowed in some places in Mindanao like Jolo and Tawi-Tawi because of limited resources.
“But in other places, that’s prohibited,” he said.
Some residents in Metro Manila and other areas in the country have engaged in online barter trade to secure the products they need during the lockdown imposed by the government.
Trade and Industry (DTI) Secretary Ramon Lopez has warned the public against engaging in online barter trade.
“Bawal po ‘yan dahil labag po yan sa tax law,” Lopez said during Tuesday’s Laging Handa press conference.
He said a team composed of the Philippine National Police (PNP) and the National Bureau of Investigation (NBI) will hunt down people who are into online barter trade.
He emphasized that exchange of goods and services is only allowed in some places in Mindanao like Jolo and Tawi-Tawi because of limited resources.
“But in other places, that’s prohibited,” he said.
Some residents in Metro Manila and other areas in the country have engaged in online barter trade to secure the products they need during the lockdown imposed by the government.