{"id":261652,"date":"2020-07-15T03:43:56","date_gmt":"2020-07-15T07:43:56","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=261652"},"modified":"2020-07-15T03:43:56","modified_gmt":"2020-07-15T07:43:56","slug":"online-barter-for-personal-transaction-not-illegal-dti-chief","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/07\/15\/online-barter-for-personal-transaction-not-illegal-dti-chief\/","title":{"rendered":"\u2018Online barter\u2019 for personal transaction not illegal: DTI chief"},"content":{"rendered":"<figure id=\"attachment_261654\" aria-describedby=\"caption-attachment-261654\" style=\"width: 415px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/07\/for-photo-editing-new-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-261654\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/07\/for-photo-editing-new-1.jpg\" alt=\"\" width=\"415\" height=\"260\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/07\/for-photo-editing-new-1.jpg 415w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/07\/for-photo-editing-new-1-300x188.jpg 300w\" sizes=\"auto, (max-width: 415px) 100vw, 415px\" \/><\/a><figcaption id=\"caption-attachment-261654\" class=\"wp-caption-text\">Trade Secretary Ramon Lopez has clarified his recent statement that \u2018online barter\u2019 is illegal, saying exchanges of goods for personal transactions, not as business, is allowed. (PNA Photo)<\/figcaption><\/figure>\n<div dir=\"auto\">Trade Secretary Ramon Lopez has clarified his recent statement that \u2018online barter\u2019 is illegal, saying exchanges of goods for personal transactions, not as business, is allowed.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In a text message Wednesday, Lopez said barter trade is only allowed in three areas in the country &#8212; Siasi, Jolo; Sulu and Bonggao, Tawi-Tawi.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cOutside those areas, barter trading across borders is not allowed. This is what I meant as illegal if done in other areas, or if done online and cross border and as a regular business, in (the) course of trade and not registered, not taxed,\u201d he said.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">During the community quarantine period, there is a resurgence of barter trading &#8212; the world\u2019s oldest form of trade by exchanging goods and services with no money involved in the transaction &#8212; but it is now done in social media.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Exchanging their used gadgets for food and vegetable harvest for school supplies are among the transactions in the \u2018online barter\u2019, which are personal transactions.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Lopez said local barter trade is subject to regulation.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">It should be registered and is subject to tax if done in the course of business, he added.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Lopez further said this is also applicable to online transactions.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Barters with annual gross sales of PHP3 million are exempted from paying value-added tax, he said.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cHowever, personal transactions, not in the course of trade and business, are not covered by registration requirements,\u201d he added.<em><strong>\u00a0<\/strong><\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Trade Secretary Ramon Lopez has clarified his recent statement that \u2018online barter\u2019 is illegal, saying exchanges of goods for personal &hellip;<\/p>\n","protected":false},"author":44,"featured_media":261654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-261652","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-kris-crismundo","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/261652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=261652"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/261652\/revisions"}],"predecessor-version":[{"id":261655,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/261652\/revisions\/261655"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/261654"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=261652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=261652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=261652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}