A bill taxing transactions with foreign digital service providers (DSPs) has won the approval of the House of Representatives in its third and final reading. The House of Representatives has overwhelmingly approved on third and final reading House Bill (HB) No.4122, which aims to impose a 12 percent value-added tax (VAT) on foreign digital service providers (DSP), such as Netflix and Spotify.
Sources:
Latest Posts in "Philippines"
- Economists Warn Scrapping VAT Could Trigger Fiscal and Economic Crisis
- Cavite Rep Files Bill to Abolish 12% VAT, Proposes Alternative Taxes
- Rep. Barzaga Files Bill to Abolish 12% VAT on All Goods and Services
- Kiko Barzaga Proposes Abolishing 12% VAT for Greater Financial Freedom in the Philippines
- VAT Reduction to 10% Risks Fiscal Deficit, Benefits Wealthy, Warns Philippine Finance Department