The Philippines has imposed a new value-added tax (VAT) rate on foreign digital services, requiring non-resident foreign digital service providers to register for VAT and comply with the new regulations. This move aims to level the playing field for local businesses and generate additional revenue for the government. The new VAT rate is set at 12% and will apply to a wide range of digital services provided by foreign companies to customers in the Philippines.
Source: aseanbriefing.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
