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...
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...
