Key Takeaways: House Bill 7425 on Taxing Digital Services in the Philippines
Share some Bitpinas love:By Shiela BertilloThe House of Representatives on Tuesday evening approved a bill that would impose a 12% value-added tax (VAT) on digital service providers in the country.House Bill No. 7425 was approved with a voting of 167-6 with one abstention on the third and final reading; the bill is meant to amend sections of the National Internal Revenue Code of 1997 and parallel the level between traditional and digital businesses.The proposed VAT shall also cover electronic or digital sale of services such as online advertisements and provision