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PRESIDENT Ferdinand Marcos Jr. has signed into law the imposition of a 12 percent value-added tax on foreign digital service providers , a priority measure of his administration.Marcos signed Republic Act 12023, or the VAT on Digital Services Law, during a ceremonial signing held in Malacañang on Wednesday, October 2, 2024.The measure covers digital media, digital music, digital video, video-on demand, and digital advertising.
The law does not cover educational and public interest services, including online courses, webinars, and other digital educational offerings to keep education affordable and accessible to all Filipinos.The National Government expects to collect P105 billion in taxes in the next five years from the effective date of the law.“This is enough to build 42,000 classrooms, more than 6,000 rural health units, 7,000 kilometers of farm-to-market roads.
12 Percent VAT Foreign Digital Service Providers Digital Service Providers Bongbong Marcos
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