- The Philippines introduced a new VAT return for Non-Resident Digital Service Providers (NRDSPs) with Form No. 2550-DS.
- The Bureau of Internal Revenue (BIR) extended the registration deadline for NRDSPs to 1 July 2025 due to system delays.
- The VAT on Digital Services Portal is now operational, allowing online registration, filing, and payments.
- VAT registration is mandatory for NRDSPs with gross sales over PHP 3,000,000 within 12 months.
- Digital services include online platforms, cloud computing, digital goods, and virtual assets.
- Non-resident providers must register and comply if they exceed the sales threshold.
- The ePortal launch aims to ensure equal tax treatment and enhance VAT compliance in the digital economy.
- NRDSPs should register and familiarize themselves with the ePortal and VAT return process by the new deadline.
Source: fintua.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.
