Department of Trade and Industry (DTI) Secretary Ramon Lopez recently warned the public to not engage in ‘online barter trade’. It may be recalled that some netizens resorted to online barter to exchange their things at home for something they really need.
Lopez stresses that it is ‘unusual’ for urban communities to resort to ‘barter trade’. He also added that the practice is only allowed in ‘limited’ places in Mindanao, particularly in Sulu and Tawi-Tawi, as allowed by Executive Order 64 signed by President Rodrigo Duterte.
Moreover, authorities will be investigating the modern-day barter trade, saying that it is illegal as transactions are not subject to taxes.
“Sa ibang lugar, hindi po allowed ‘yung barter trade. Kailangan regular transactions tayo diyan at dapat may tax na binabayaran. Ipapahanap natin ‘yun dahil ilegal po ‘yung activity,” states Trade Secretary Ramon Lopez, in an article by CNN Philippines. Lopez added that a team composed of personnel from the Department of Trade and Industry and the Philippine National Police may be deployed.
