Salceda on taxing online barter: Gov鈥檛 has better things to do
LEGAZPI CITY—The Department of Trade and Industry (DTI) must have better things to do than tangle with online barter trade, according to the chair of the House committee on ways and means.
Albay Rep. Joey Salceda said he saw nothing wrong with online barter, saying it was legal.
“Barter trade is recognized as a valid transaction by the Civil Code, so, strictly speaking, it is legal,” said Salceda in a statement on Wednesday (July 15).
According to Salceda, he does not see a scenario where tax collection from barter trade would be worth the enforcement and tax administration costs.
“This is a crisis, and DTI probably has much more important things to do, such as guard price movements and provide credit support for businesses, than crack down on something so elemental to human nature and probably harms no one in any meaningful way,” said Salceda.
He said all tax measures come from his committee and it was very difficult to determine which were worth pursuing or not.
Article continues after this advertisement“As chair, my filters are simple: If tax policy promotes or preserves economic growth, taxes the rich much more than it taxes the poor (if it taxes the poor at all), collects more than enough to cover enforcement, and promotes some greater good, then I will pursue it,” he said.
Salceda said enforcing taxes from barter trade was not worth the enforcement effort, especially in this time of crisis, when people are cash-strapped.
