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The Philippine Chamber of Commerce and Industry , the country’s largest business sector group, on Friday welcomed the signing into law of a measure imposing value-added tax on foreign digital service providers .“By imposing VAT on both local and foreign digital services, the government is creating a more competitive environment for local digital service providers and greater incentives for them to innovate and improve their offerings,” PCCI president Enunina Mangio said in a statement.
The PCCI chief said that charging 12% VAT on non-resident digital service providers is seen to level the playing field between local and foreign digital service providers, thereby ensuring fair competition and potentially boosting domestic businesses. Mangio said the revenue generated from VAT can be reinvested in ICT infrastructure, technology and digital initiatives that could benefit local service providers and creative industries.
Foreign Digital Service Providers Value Added Tax
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