President Ferdinand R. Marcos Jr. joins lawmakers after signing the Value-Added Tax (VAT) on Digital Services Law, projected to generate PhP105 billion in government revenue over five years.
PBBM said the proceeds from the newly-signed law would enable the government to allocate more for the construction of around 42,000 classrooms, 6,000 rural health units, and 7,000-kilometer farm-to-market roads.  Marcos also clarified that the law does not impose a new tax but strengthens the authority of the Bureau of Internal Revenue to ensure effective collection of VAT on digital services, aiming to promote fairness and inclusiveness in the nation-building process.

Presidential Communications Office

MARCOS

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The Marcos Junior administration anticipates new revenues worth over a hundred billion pesos from a newly signed law imposing value added tax on foreign digital service providers. - ANC, The World Tonight, October 2, 2024

The Marcos Junior administration anticipates new revenues worth over a hundred billion pesos from a newly signed law imposing value added tax on foreign digital service providers.

The Marcos Junior administration anticipates new revenues worth over a hundred billion pesos from a newly signed law imposing value added tax on foreign digital service providers.

Marcos signs law imposing 12% VAT on foreign digital services | ABS-CBN

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Marcos signs law imposing 12% VAT on foreign digital services

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Published Oct 02, 2024 11:39 PM PHT

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ANC

The World Tonight

Ferdinand Marcos Jr.

Bureau of Internal Revenue

VAT on Digital Services Law

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