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In this current modern era where technology is at its peak, online trends could just blow up at anytime. More influencers are popping up to join in the fray and being one these days is not easy at all. Not everyone can do it but if one does it really well, get ready to earn a big load. Yes, being an influencer nowadays is now officially considered as a profession. In other words, it is now compulsory for these individuals to pay their income tax.
Influencers are those who earn their load through reviews, endorsements and businesses conducted via social media. According to the Income Tax Act 1967, Internet celebrities, online influencers and others from such category who earn RM5,000 a month have to start paying up.
As of now, the Inland Revenue Board (IRB) is inviting influencers to IRB offices to declare the matter and to offer guidance and advice. IRB is also cooperating with non-governmental organisations by using mass media to spread awareness about the matter to the public. They are also visiting schools and universities to spread the news as the popular trend of being an influencer intensifies among the younger age groups.
There is no possible escape from this as IRB will be able to detect those who fail to pay up. The tax form in the form of a receipt, includes every detail when parties do business. There is good news though. Influencers will be allowed to claim for their business expenses and tax refunds wherever applicable. So if you are an influencer reading this, we advise you to head over to IRB to get this sorted.
