Live Breaking News & Updates on He Chamber Passed On Third Reading House Bill 7425 Seeking To Amend Section 105 Of The National Internal Revenue Code Nirc By Taxing Digital Service Providers That Operate Through Online Platforms Seeks Clarify Imposition Vat Advertisement Services

(File photo) MANILA - The House of Representatives on Tuesday night approved on final reading a proposal imposing a 12 percent value-added tax (VAT) on digital transactions in the country to generate new funding sources for the country's Covid-19 response efforts. With 167 affirmative votes, six negative votes, and one abstention, the Chamber passed on third reading House Bill 7425 seeking to amend Section 105 of the National Internal Revenue Code (NIRC) by taxing digital service providers that operate through online platforms. The bill seeks to clarify the imposition of VAT on online advertisement services, digital services in exchange for a regular subscription fee, and supply of other electronic and online services that can be delivered through the Internet. Albay Rep. Joey Salceda, a principal author of the bill, said foreign corporations selling digital services, such as Netflix, Spotify, and others, will have to pay for and impose VAT on their services. "We have now clar ....

Joey Salceda , National Internal Revenue Code , House Bill , ஜோவீ சால்சேட , தேசிய உள் வருவாய் குறியீடு , வீடு ர சி து , Ile Photo Manila The House Of Representatives On Tuesday Night Approved Final Readinga Proposal Imposinga 12 Percent Value Added Tax Vat Digital Transactions In Country To Generate New Funding Sources For 39s Covid 19 Response Efforts With 167 Affirmative Votes , Ix Negative Votes , Nd One Abstention , He Chamber Passed On Third Reading House Bill 7425 Seeking To Amend Section 105 Of The National Internal Revenue Code Nirc By Taxing Digital Service Providers That Operate Through Online Platforms Seeks Clarify Imposition Vat Advertisement Services , Igital Services In Exchange Fora Regular Subscription Fee , Nd Supply Of Other Electronic And Online Services That Can Be Delivered Through The Internet Albay Rep Joey Salceda , A Principal Author Of The Bill , Aid Foreign Corporations Selling Digital Services , Such As Netflix , And Others , Ill Have To Pay For And Impose Vat On Their Services Quot We Now Clarified That Digital The Goods Traded Through Service Providers Should Generally Be Subject This Is Justa Matter Of Common Tax Sense , Uot He Said Quot If Brick And Mortar Establishments , Hich Are The Hardest Hit By Pandemic , Ave To Pay Vat , He Giants Ofe Commerce Shouldn 39t Be Exempt Quot Digital Services Include Online Licensing Or Software , Pdates And Add Ons , Ebsite Filters And Firewalls , Mobile Applications , Ideo Games And Online , Nd Webcasts And Webinars ,