Incentive, not taxes: Gatchalian urges DTI to extend financial assistance to online sellers

Image from Sen. Gatchalian's Facebook
  • Gatchalian urges DTI to provide online sellers with assistance, not taxes
  • This is to assist Filipinos who lost their jobs and want to start an online business
  • Earlier, Gatchalian criticized the government’s plan to impose taxes on online entrepreneurs

Instead of adding to their burden, the government should instead help budding online entrepreneurs during the current global coronavirus pandemic, said Senator Gatchalian in a press release on Monday, June 22.

The lawmaker said online business should be covered by the microfinancing program of the Small Business Corporation (SB Corp.) “to assist them in growing their business to recover from the economic effects of the pandemic”.

Image from Sen. Gatchalian’s Facebook

SB Corp. has set aside P1-B Enterprise Rehabilitation Financing facility under the Pondo sa Pagbabago at Pag-asenso (Covid19 P3-ERF) to support small businesses affected by the crisis. Its microfinancing program offers a maximum of only 2.5% interest per month and does not require collateral.

Gatchalian urges DTI to provide financial capital to Filipinos who lost their jobs and willing to start online business to tackle poverty.

DTI warns online sellers: “PM is NOT the key”

“Sa ganitong panahon ng pandemya, mas magandang nasa tahanan lang sila at nag-nenegosyo. Nabibigyan pa nila ng trabaho ang mga delivery service riders,” said Gatchalian, the Vice Chairman of the Senate Committee on Economic Affairs. [During this pandemic, it would be safer for the people to stay at home and earn. At the same time, they can also provide jobs for deliverys service riders.]

Image from The Hindu

Earlier, Gatchalian criticized the government’s plan to impose taxes on online entrepreneurs as ‘ill-tmed and insensitve’. He also disagrees with registering these businesses with the Bureau of Internal Revenue (BIR) as the current system requires for applicant’s physical presence.

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