House Panel Approves Proposed 12 Percent VAT on Some Digital Transactions
The House Panel Wednesday, approved the bill seeking to give 12 percent VAT in every transaction made on some digital platforms.
The House Committee on Ways and Means has approved the bill seeking a 12 percent value-added tax (VAT) on digital transactions in the country. The bill aimed at raising P1o billion revenue to help the government fight the coronavirus disease (COVID-19).
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Based on the report ABS-CBN, it is also possible to add tax on streaming platforms like Netflix shows and shopping online. Led by Albay Rep. Joey Salceda, it was approved as an amendment to the National Internal Revenue Code of 1997.
“The Committee hereby approves the Unnumbered Substitute Bill on HBs No 6765, 6944, and 4531, integrating the concerns under HR No. 685. The Secretariat is hereby directed to file the appropriate Committee Report,” said Salceda.
It aims to impose a tax on online licensing on software, mobile applications, and the provision of digital content, based on the report. It also includes online advertisements, e-learning, and online courses, as well as subscription and payment processing services.
Salceda added that third parties will also be taxed. Salceda earlier filed a bill seeking to impose VAT on Netflix, Spotify, Facebook, Google, and other global internet companies that do business in the Philippines.
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Kahit ano paikot ikot nyo pa yan at kahit 50% pa ipatong nyo, kanino sapalagay nyo nila kukunin yan edi sa mga pilipino pa rin,,,Sila pa rin ang pahihirapan nyo…baka naman sa susunod eh pati hangin na hinihinga ng tao lagyan nyo n din ng Tax.