President Ferdinand Marcos Jr. Enacts 12% VAT on Netflix and Other Digital Services
Wednesday, President Ferdinand Marcos Jr. signed into law a significant piece of legislation imposing a 12-percent Value Added Tax (VAT) on foreign digital services including Netflix, Amazon, and other international platforms. Focusing on foreign digital companies that have achieved phenomenal growth in the Philippines, this measure complements a more overall strategy to increase government revenue. By incorporating these global sites …