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kdl21

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    12% VAT on some digital service providers such as NETFLIX

    in Current Philippines News

    Posted

    The House ways and means panel has approved a bill seeking to impose a 12% Value Added Tax (VAT) on some foreign and local companies providing goods and services via digital and electronic platforms.

     

    Still unnumbered, the substitute bill seeks to amend Section 105-A of the National Internal Revenue with a provision making a non-resident digital service provider such as Netflix, Spotify, Lazada, among others, liable for assessing, collecting, and remitting the VAT on the transactions that go through its platform.

    Also, the bill defines digital service provider as "an entity which provides digital service or goods to a buyer through an online platform for purposes of buying and selling of goods or services or by making transactions for the provision of digital services on behalf of any person."

    Further, digital service providers may also be:

    • a third party that acts as a conduit for goods or services offered by a supplier to a buyer and receives commission therefor;
    • a platform provider for promotion that uses the internet to deliver marketing messages to attract buyers;
    • a host of online auctions conducted through the internet, where the seller sells the product or  service to the person who bids the highest price; 
    • a supplier of digital services to a buyer in exchange for a regular subscription fee over the usage of the said product or service; and
    • a supplier of electronic and online services that can be delivered through an information technology infrastructure, such as the internet.

     

    Link source: 

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    in Job and Offers

    Posted

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    Capture.PNG.2fa5033bc4755f2fcdddbca959f8d24a.PNG

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