Germany passed the “Facebook Law” in 2017 to remove certain messages from the Internet. – Getty images
It is considered taxable income to the Ministry of Finance
By metro Puerto Rico
Tuesday, February 16, 2021 at 9:46 pm
Germany passed the “Facebook Law” in 2017 to remove certain messages from the Internet. – Getty images
Secretary of the Treasury Department, Francisco Parés Alicea, today shared a bit of information that left social media users surprised and somewhat thoughtful about the next competition they are entering.
And it is that the secretary explained that the famous “giveaways” created in social networks where influencers or business accounts award prizes to their followers are also taxable on the payroll.
“The famous” giveaways “should be considered taxable income in the prizewinner’s payroll,” Parés Alicea wrote.
The only way to exclude these prizes from the selection is if they are literary, journalistic, scientific, artistic and industrial or professional development prizes awarded in competitions to promote one of these disciplines.
The famous “giveaways” are to be considered taxable income on the prize winner’s payroll. Only the prices below can be excluded. [Ver Sección 1031.01(b)(6)]
Good luck to the winners!
At Hacienda, we are here to serve you. pic.twitter.com/tdH0SstMlm
– Francisco Parés Alicea (@SecHacienda) February 17, 2021
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