The Internet Transactions Act of 2023, approved on December 5, 2023, makes cross-border electronic marketplaces and suppliers liable for their internet transactions in the Philippines. The rules will be implemented from March 19, 2024, with an 18-month transition period. The act covers B2B and B2C transactions, requiring specific information from e-marketplaces, e-retailers, and online merchants. Fonoa offers Fonoa Tax to automatically determine the correct tax treatment for sales transactions worldwide.
Source Fonoa
Click on the logo to visit the website
- Join the Linkedin Group on VAT/GST and E-Commerce HERE
Latest Posts in "Philippines"
- Philippines Faces Potential Tariffs as Trump Targets Countries with Digital Taxes
- Philippines Announces VAT Exemption on Medicines to Lower Healthcare Costs and Improve Access
- Philippines President Approves VAT Refund Program to Boost Tourism by 2024
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Outsourcing Services Case
- Philippine Court Denies VAT Refund for Singapore Firm Due to Insufficient Documentation
