Couple/Vloggers Nicanor and Inday formed their YouTube Channel "Ja-Mell". Due to their fanbase of over 12 Million subscribers, they were able tomonetize the millions of viewws on their content from Google LLC which owns YouTube. They recently deleted their YT account in view of the purportedRMC issued by the BIR taxing social media influencers. Which is FALSE assuming they are separately paid by YT?O Ja-Mell is required to register with the BIR because they are considered as in practice of their professionO Ja-Mell is not required to register with the BIR even if they earn money if vlogging is a hobby only and not intended for profitO Ja-Mell can claim as business expenses/deductions the filming expenses and other expenses related to their "vlogging"O Ja-Mell is liable to business tax depending on whether they breached the VAT threshold

Purpose of circular: RMC No. 97-2021 BIR observed that many social media influencers despite of…

Answered: Couple/Vloggers Nicanor and Inday…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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