DOF starts push for new VAT on digital service providers | Inquirer News

DOF starts push for new VAT on digital service providers

/ 05:12 AM July 07, 2023

The Department of Finance (DOF) on Thursday made its push to impose value-added tax (VAT) on digital service providers at a hearing of the Senate committee on ways and means on measures imposing the new taxes.

DOF Undersecretary Dakila Elteen Napao said the new VAT will be imposed on digital service providers, including online licensing software, website filters and firewalls, mobile applications, video games, webcasts and webinars, digital music, files, images, text and information, an electronic marketplace, search engine services, social networks, cloud storage services, online newspapers, journal subscriptions and payment processing services, among others.

“Assuming that there will only be 70 percent compliance among those digital service providers… in 2024 alone, there will be a P17.64 billion additional collection,” said Napao. —CHARIE ABARCA

ADVERTISEMENT

RELATED STORY:

DOF: VAT on digital services to raise billions for gov’t

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: digital services, DoF, Finance, Tax

Your subscription could not be saved. Please try again.
Your subscription has been successful.

News that matters

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.