MANILA, Oct 02 (AFP): Philippine President Ferdinand Marcos on Wednesday signed into law a measure that imposes a 12 per cent value-added tax on foreign-based firms providing digital services in the country.
The tax applies to a vast range of products and services including search engines, software licensing, mobile apps, online games, webinars, music, advertising, warehousing and cloud services, website hosting, and electronic marketplaces.
"Whether you are a small tech start-up or a global tech giant based halfway around the world, if you are making money here in the Philippines, you are part of our community," Marcos said in a speech at a signing ceremony attended by legislators.
"Local businesses and international digital platforms now compete on equal terms. We no longer will be playing by different sets of rules."
Philippines to tax foreign-based digital service providers
FE Team | Published: October 03, 2024 00:06:19
Philippines to tax foreign-based digital service providers
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