• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Philippines lower house approves VAT for big tech firms

September 22, 2021 by David Barret Leave a Comment

September 22, 2021

MANILA (Reuters) – The Philippines’ lower house of Congress has approved a bill imposing taxes on tech giants like Facebook, Alphabet’s Google and Youtube, and Netflix.

Voting 167-6-1, lawmakers late on Tuesday approved on third and final reading a bill imposing a 12% value-added tax (VAT) on digital transactions in the Philippines.

It will require foreign-based digital service providers to assess, collect and remit VAT on the transactions that go through their platform.

In July 2020, a lower house committee approved the bill, which will tax firms that provide digital service or goods through an online platform. A similar bill has been submitted to the Senate.

The bill aims to raise 29 billion pesos ($579 million) to help fund government measures to fight the coronavirus.

The Philippines is a growing market for big tech firms, withFilipinos among the heaviest social media users in the world.

Alphabet, Facebook, Netflix, Spotify and Alibaba’s Lazada did not immediately respond to requests for comment.

It follows similar moves by other Southeast Asian countries to generate revenues from popular digital services.

Last year, Indonesia imposed a 10% VAT on sales by technology firms. Early this month, Thailand started collecting VAT from foreign tech companies.

(Reporting by Neil Jerome Morales; Editing by Martin Petty)

Source Link Philippines lower house approves VAT for big tech firms

David Barret
David Barret

Related posts:

  1. Pope, in Slovakia, warns European countries against being self-centred
  2. Biden to nominate NYC official for key Commerce trade post
  3. Australia’s Victoria reports easing in COVID-19 cases
  4. Fortescue sets up new mining pact with Aboriginal group

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Xerces Blue Butterfly: America’s First Human-Caused Insect Extinction
  • Comet 3I/ATLAS Is About To Pass Near Mars – Our Robotic Explorers Are Ready For Our Closest View Yet
  • World’s Only Population Of Black Tigers Lives In A Single Reserve In India
  • Should We Worry About The Latest COVID-19 Variants?
  • Record-Breaking Rogue Planet Seen Growing At A Rate Of 6 Billion Tonnes Per Second
  • The Universe May End With A Big Crunch – And There’s Just 20 Billion Years To Go
  • Interstellar Comet 3I/ATLAS Found To Have “Extreme Abundance Ratio” Of Iron And Nickel
  • The Fundamental Forces Of The Universe Are Getting Weaker, New Paper Suggests
  • At Least 541 Million Years Old, These Might Be The First Animals To Evolve On Planet Earth
  • We May Finally Know Why Women Live Longer Than Men
  • Jane Goodall, Pioneering Scientist Who First Discovered Tool-Use In Chimps, Dies At 91
  • Trump Orders Release Of Classified Files On The Mysterious Disappearance Of Amelia Earhart
  • Proof Of Complex Organic Molecules In Enceladus’s Ocean: “You Have Everything You Need To Form Life”
  • Long COVID Risk In Kids Found To Double After Their Second COVID-19 Infection
  • “One Of The Most Extreme Environmental Events On Earth” Unfolded 6.2 Million Years Ago
  • GW190521 May Be Evidence Of Another Universe “Connected To Our Universe Through A Throat”, Scientists Claim
  • Physicists Find A Way Around Heisenberg’s Uncertainty Principle, One Of The Most Frustrating Concepts In Physics
  • AI-Generated Genomes Used To Produce Functional, Bacteria-Killing Viruses In World First
  • Meet The Pocket Sharks: They’re Rare, They’re Tiny, And They’re Something Of A Mystery
  • The Great Comet Of 1997 Was Visible To The Naked Eye For A Record 569 Days
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version