US-based tech giants are worried that the 12-percent value-added tax (VAT) to be collected from digital services providers (DSPs), plus more stringent rules on internet transactions under two new Philippine laws, could make it harder for global firms to operate here. "While this law imposing VAT on...
The Department of Trade and Industry (DTI) stated that the imposition of value-added tax (VAT) on digital service providers (DSPs) will promote healthy competition in the local market. In a statement on Wednesday, Oct. 16, DTI Secretary Cristina A. Roque said that this measure levels the playing...
Senate President Francis “Chiz” Escudero expressed confidence that the bill imposing a 12-percent value-added tax (VAT) on digital transactions would shore up government coffers by at least P80 billion in revenues. Escudero said that this would level the playing field for local and foreign...
Senator Sherwin Gatchalian on Monday, July 10 said the Senate is eyeing the passage of the bill imposing a 12 percent value added tax (VAT) on digital transactions before the end of the year. Sen. Sherwin Gatchalian (Senate PRIB Photo) ...
Senator Manuel “Lito” Lapid has filed a measure seeking to mandate government offices to adopt digital systems to expedite transactions and enable them to pay and receive digital currency. The proposed “Use of Digital Payments Act” is part of the initial bills filed by the senator in the...
The Anti-Red Tape Authority (ARTA) has expressed support for Senate Bill (SB) 1764 or the proposed Use of Digital Payments Act that allows the digital collection of taxes and fees, payments, and other disbursements. File photo SB 1764 mandates the use of digital payment in the collection of taxes,...
The global pandemic has significantly changed the way retailers promote and sell their products. With more Filipinos using digital platforms and transitioning to cashless transactions, businesses need to quickly adapt in order to gain and maintain customer loyalty. As the Philippine...
