Philippines Lower House Passes Bill to Introduce VAT on Digital Transactions

The Philippine House of Representatives Sept. 21 passed Bill No. 7425, to introduce VAT on digital transactions. The bill includes measures to: 1) impose a 12 percent VAT rate; 2) impose VAT on online advertisement services, digital subscription services, and the supply of other electronic and online services delivered through the internet; and 3) require VAT registration for nonresident digital service providers with gross annual revenue over 3 million Philippine pesos (US$59,100). [Philippines, House of Representatives, 09/21/21]

Reference:
View House Bill No. 7425. View Index.