The House of Representatives has overwhelmingly approved on third and final reading House Bill (HB) No.4122, which aims to impose a 12 percent value-added tax (VAT) on foreign digital service providers (DSP), such as Netflix and Spotify.
The House of Representatives has overwhelmingly approved on third and final reading House Bill No.4122, which aims to impose a 12 percent value-added tax on foreign digital service providers , such as Netflix and Spotify.Deputy Speaker and Davao City 3rd district Rep. Isidro Ungab, who presided over Monday’s session, said 253 House members voted in favor of the bill. Only four voted in the negative, while one abstained.
A proponent of the measure, Albay 2nd district Rep. Joey Salceda, had earlier estimated that around P19 billion in revenues can be raised with this move. The bill intends to impose a 12 percent VAT on the digital sale of services, including video-on-demand subscriptions; online advertisements and supply of other electronic services, which can be delivered through mobile applications; online marketplaces; and webcasts, among others.
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