31 May 2024
During May 2024, the Philippines Senate voted in favour in a second reading of Bill No. 2528 imposing VAT on foreign providers of digital services to consumers. This means that the bill can now be debated and amended before a further vote is taken as to whether to move the bill on to the next stage in the authorisation process.
Currently, foreign businesses providing digital services to consumers in the Philippines do not have to charge VAT on their sales. However, to remove the unfair advantage this gives to non-resident companies over resident providers, the Philippines government are proposing that VAT at 12% will be applied to these types of transactions.
This will be applied to a range of electronic services including online advertisement services, streaming games, music, apps, films, e-books, e-journals, and internet services.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
We help you simplify today’s complexities and address tomorrow’s challenges. The values we represent, and our consistent advice, mean you can trust Fiscal Solutions to do the right thing – for you and your organisation.
LATEST NEWS
Foreign providers liable to register and collect VAT...
During September 2024, the Federal Democratic Republic of Ethiopia introduced VAT on the sale of digital services by non-resident providers to local consumers...
SEE MORE
LATEST NEWS
Update: Foreign providers selling digital services B2C...
From 1 October 2024, the Peruvian tax authority will introduce VAT at 18% on the sale of digital services by non-resident providers to local consumers. Peru...
SEE MORE
LATEST NEWS
UK to launch public consultation on electronic...
During September the UK unveiled a package of reforms that includes launching a consultation on how HMRC can support the introduction of electronic invoicing...
SEE MORE