Philippines introduces 12% VAT on digital services from Amazon, Netflix, and others

khaleejtimes.com — October 3, 2024 at 06:01 AM UTC

The Philippines will now impose a 12% value-added tax (VAT) on digital services from companies like Amazon, Netflix, Disney, and Alphabet. This change aims to create fair competition with local businesses. President Ferdinand Marcos Jr. signed the law on Wednesday, which applies to non-resident digital service providers. Previously, only local providers paid the VAT. The government expects to collect 105 billion pesos ($1.9 billion) from this tax between 2025 and 2029. Five percent of the revenue will support projects for the creative industries, while educational services will remain exempt.

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Timeline:

[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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[3.0]

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

163d 7h

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[2.9]

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

163d 21h

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[3.0]

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

163d 23h

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[3.2]

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

164d 1h

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