- Senate in the Philippines approves bill introducing VAT for Foreign Digital Service Providers
- Government aims to establish equality between domestic and foreign providers
- House of Representatives and Senate both adopt bill on third and final reading
- Next step is review by Congress Committee and transmission to President
- Timeline for implementation includes preparation by tax authority
- New regulatory framework will reshape digital economy landscape
- Scope includes digital marketplaces, subscription-based platforms, and independent providers
- Providers will be required to charge, collect, and remit VAT to tax authorities
Source: 1stopvat.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.
