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...
Downward Philippine inflation in the near term would be slightly offset by the new law imposing 12-percent value added tax (VAT) on digital services, Singapore-based United Overseas Bank (UOB) said. In an Oct. 4 report, UOB senior economist Julia Goh and economist Loke Siew Ting noted that there is...
The Department of Finance (DOF) expects to generate P102.12 billion over the next five years from a new law that imposes a 12-percent value-added tax (VAT) on both local and foreign digital service providers (DSPs). According to the DOF, the estimated revenues to be collected from 2025 to 2029 will...
Senior Netflix officials support the bill on 12 percent value-added tax (VAT) for foreign digital service providers, citing it would level the playing field between local and international digital service providers, according to the Department of Finance (DOF). According to a Facebook post on...
(AFP) The House of Representatives and the Senate on Thursday, June 27, has achieved consensus to approve the two chambers’ joint version of a bill that seeks to impose value-added tax (VAT) on non-resident digital service providers, Albay 2nd district...
The Senate is soon to debate on the necessity of subjecting foreign digital service providers (DSP) under the coverage of value-added tax (VAT). This, after Sen. Sherwin Gatchalian, chairman of the Senate Committee on Ways and Means sponsored the committee report for Senate Bill No. 2528...
TACLOBAN CITY – An electric cooperative in Leyte province has ordered all internet providers attaching lines to its poles to secure a permit from them by March 31 or face disconnection. The Leyte III Electric Cooperative (Leyeco III) Board of Directors has issued a resolution mandating them...
Imposing value-added tax (VAT) on non-resident digital service providers (DSPs) would only mean higher subscription payments for consumers, Gabriela Partylist Arlene Brosas said on Thursday, Aug. 18, as she thumbed down the recently approved legislation that taxes digital services and products....
The House Committee Ways and Means on Wednesday, Aug. 17, approved a proposed measure that would impose value-added tax (VAT) on non-resident digital service providers (DSPs), such as Amazon and Google. (Images from Wikipedia) Albay 2nd District Rep. Joey Salceda, committee chairman, said during...
President Duterte has vowed to put an end to Palawan's electricity woes by expropriating the franchises of the underperforming power providers in the province. President Rodrigo Duterte speaks during the joint meeting of the NTF-RTF ELCAC in Region IV-B in Puerto Princesa City, Palawan on Nov. 4,...
The Department of Social Welfare and Development (DSWD) said Friday, Oct. 22, that there is nothing irregular in its engagement with financial service providers (FSPs) for the distribution of the second tranche of Social Amelioration Program (SAP) cash subsidies. Manual SAP payout in San Mateo,...
All the six financial service providers (FSPs) that were tapped in 2020 to undertake digital electronic disbursement of second tranche of emergency cash subsidies under Social Amelioration Program (SAP) through restricted transactional accounts hurdled the Bangko Sentral ng PIlipinas’ (BSP)...
