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The newly imposed 12% value-added tax on digital services provided by non-resident or foreign entities is expected to generate over a hundred billion pesos in revenues for the government in the next five years, the Department of Finance said Wednesday.In a statement, the DOF said that, with the VAT on foreign digital service providers in place, it expects to collect P102.12 billion from 2025 to 2029.In 2025 alone, at 50% compliance, the Finance Department is estimating revenues amounting to P7.
We are just merely correcting the current system that creates an unfair advantage to foreign digital service providers and weakens the country’s tax base, forgoing much-needed revenues that could have been used to fund crucial public services, infrastructure, and other socio-economic programs,” said Recto.“By doing this, we foster fairness, competition, and inclusion in our tax system and marketplace.
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