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MANILA - A measure imposing a 12-percent value-added tax (VAT) on foreign digital service providers (DSPs) hurdled committee level at the House of Representatives. During a hearing on Wednesday, the House Committee on Ways and Means approved House Bill No. 372, which seeks to level the playing field between traditional and digital businesses by clarifying the imposition of VAT on DSPs. Digital services include online licensing or software, updates and add-ons, website filters and firewalls, mobile applications, video games and online games, and webcasts and webinars. It also includes the provision of digital content, such as music, files, images, text, and information; online advertising spaces; electronic marketplaces; search engine services; social networks; database and hosting; and online training. "The measure also aims to strengthen tax compliance through simplified invoicing and registration requirements for VAT-registered nonresident DSPs," Albay Rep. Joey Salceda, au ....
(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 ....
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