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VAT on digital services to level playing field
Commissioner Romeo Lumagui Jr. said Friday he supports the goal of Republic Act No. 12023 to level the playing field between brick-and-mortar companies and digital service providers, whether or not the latter have offices in the Philippines.
EXPLAINER: What are the digital services affected by VAT on non-resident DSPs?
The newly signed Republic Act (RA) 12023 aims to impose a 12% Value Added Tax (VAT) on non-resident digital service providers (DSPs) in order to generate additional revenue for the government. The 12% VAT will be imposed on electronic or online sale of services,
Digital services now subject to VAT
Digital platforms offered by foreign companies such as Netflix are now subject to 12 percent value-added tax under a new law signed by President Marcos yesterday.
Explainer: VAT on Digital Services Law
PRESIDENT Ferdinand Marcos Jr. has signed a law imposing a 12 percent value-added tax (VAT) on foreign digital service providers (DSPs), marking a significant c
Philippines Enforces 12% VAT on Digital Services from Foreign Tech Giants
The Philippines has imposed a 12% VAT tax on digital services provided by tech giants. The article discusses the implications of the tax for consumers and businesses, as well as the challenges and opportunities it presents.
Marcos signs law imposing 12% VAT on foreign digital services
President Ferdinand Marcos Jr. has signed into law a measure that taxes foreign digital services, which includes overseas-based e-commerce firms and popular streaming platforms such as Netflix, HBO and Disney.
Philippines levies 12% VAT tax on digital services by tech giants
The Philippines will impose a 12% value-added tax (VAT) on digital services offered by tech giants such as Amazon, Netflix, Disney, and Alphabet, in a move that will level the playing field with domestic brick and mortar players,
Filipino consumers face higher streaming prices with VAT on foreign digital services – tax expert
Companies such as Netflix will likely pass the burden of the 12% VAT to consumers by hiking prices, says Mon Abrera, founding chairman and chief executive officer of the Asian Consulting Group
VAT on foreign online services promotes equitable digital economy: DTI
Secretary Ma. Cristina Roque said the newly signed Republic Act (RA) 12023, imposing a 12 percent value-added tax (VAT) on online services from foreign providers promotes an equitable digital economy in the country.
Marcos signs law imposing 12% VAT on digital services from offshore firms
President Ferdinand Marcos Jr. on Wednesday signed into law the Value-added tax (VAT) on Digital Services, which will impose a 12 percent VAT on digital services provided
BusinessMirror
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‘VAT on digital services levels the playing field, a boon to local retailers’
This levels the playing field for our local MSMEs by removing the unfair advantage previously enjoyed by foreign digital service providers,” DTI Acting Secretary Cristina A. Roque said in a statement ...
pna
1d
Marcos signs VAT on foreign digital services law
President Ferdinand R. Marcos Jr. signed into law on Wednesday a measure imposing a value-added tax (VAT) on foreign digital ...
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