- Finance Secretary Ralph Recto met with senior Netflix officials on August 20, 2024, to discuss the pending bill on value-added tax for foreign digital service providers.
- Netflix representatives expressed strong support for the measure, highlighting its potential to create a level playing field between local and international digital service providers and generate additional government revenues.
- Secretary Recto provided clarifications on the bill and assured Netflix of the government’s commitment to supporting the growth of the industry. Netflix expressed eagerness for the bill’s implementation and pledged to collaborate with the government for mutual benefits.
Source Orbitax
Latest Posts in "Philippines"
- Philippines Tax Court Clarifies Rules on Validity of VAT Deficiency Assessments in Recent Decision
- FDA Releases Updated List of 69 VAT-Exempt Medicines Covering Major Diseases
- Accumulated Input VAT: The Dilemma of Domestic Market Enterprises Under the CREATE MORE Act
- FDA Removes Bosentan from VAT-Exempt List, Adds 69 New Medicines for Various Diseases
- Philippine Senate Considers Bill to Lower Standard VAT Rate to 10 Percent, Retain 12 Percent for Some
