REVENUE MEMORANDUM CIRCULAR NO. 97-2021: Taxing the Income of Social Media Influencers BIR issued last August 16, 2021, the Revenue Memorandum Circular No. 97-2021 , which clarifies the taxation of income received by Social Media Influencers. This is to promote the regularity of the business by doing Social Media Influencer Marketing scheme. In previous years, companies would hire celebrities to appear in a TV commercial or to pose on a billboard just to market their products and to reach a wider audience. With social media influencer marketing, a brand or company can now easily promote its products or business through sponsored posts or by partnering with influencers and placing ads on any content of its choice, preferably on the channel of influencers with a significant number of followers, among others. Influencer marketing has thus become a vital part of the marketing strategies of these companies and the new norm for digital marketing , being one of the most effective ways no...
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