Philippines imposes 12% VAT on foreign digital services to boost local competition

gmanetwork.com — October 4, 2024 at 12:00 PM UTC

The Philippine government has enacted a law imposing a 12% value-added tax on foreign digital service providers. This measure aims to create a competitive environment for local businesses by leveling the playing field. The law, signed by President Ferdinand Marcos Jr., is expected to generate approximately P102.12 billion from 2025 to 2029. It aligns the Philippines with other countries that have implemented similar digital taxes. The new law defines digital services as those supplied over the internet, including online marketplaces, cloud services, and digital advertising. This move is intended to encourage local providers to formalize their businesses and enhance consumer trust.

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[3.5]

Philippines imposes 12% VAT on foreign digital services to boost local competition (gmanetwork.com)

161d 18h

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[3.5]

Philippines introduces 12% VAT on digital services from Amazon, Netflix, and others (khaleejtimes.com)

163d 0h

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[3.3]

BIR clarifies VAT on foreign digital services is not a new tax (gmanetwork.com)

163d 2h

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[3.3]

Philippines to impose 12% VAT on digital services from foreign firms (hindustantimes.com)

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Philippines imposes 12% VAT on foreign digital service providers to raise P105 billion (newsinfo.inquirer.net)

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Philippines imposes 12% tax on streaming services like Netflix and HBO (firstpost.com)

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Philippines imposes 12 percent VAT on foreign digital services providers (inquirer.net)

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Philippines imposes 12% VAT on digital services from foreign providers (inquirer.net)

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