Senator Pia Cayetano: “As the country moves towards more digitalization, so too must our tax regime.” SENATOR PIA CAYETANO — The senator has filed a Senate bill seeking to impose value-added tax (VAT) on online transactions amidst the Philippines’ shift to digitalization and online commerce (e-commerce). Senator Pia has filed Senate Bill 250 or “An … Read more
The government will borrow additional money if fuel tax is suspended, according to DOF. DOF — The Department of Finance said that the government would need to borrow additional money from creditors should the taxes on petroleum products are suspended. According to Finance Secretary Carlos G. Dominguez III, suspending fuel excise taxes will only provide … Read more
House approved on final reading the bill imposing VAT on digital transactions. On Tuesday, the House of Representatives approved on final reading the bill imposing value-added tax (VAT) on digital transactions — including streaming platforms such as Spotify and Netflix. With 167 affirmative, 1 abstained, and 6 negative votes, House Bill 7425 was approved on … Read more