To raise money for government projects, the Philippines will extend a 12% tax on digital services to international companies—streaming services, e-commerce sites, search engines, and more.

This law could support the development of local streaming platforms as global companies like Netflix and regional provider Viu aim to grow their presence in the Philippines, which has a population exc

Philippine president signed a law imposing VAT on non-resident digital service providers such as Netflix, Google and Amazon to raise revenue.

According to SPOT.ph, the government is looking at around P102 billion in revenue because of the new law. Five percent of it will be allotted to support the creative industry in the Philippines. Additionally, the rest of the revenue will be distributed to build public infrastructures such as classrooms and health centers.

Philippine President Ferdinand Marcos Jr. on Wednesday signed a law imposing a 12% value-added tax on non-resident digital service providers including Netflix, HBO and Disney.Most Read from BloombergA 7,

The Philippines will impose a 12 per cent value-added tax (VAT) on digital services offered by tech giants such as Amazon, Netflix, Disney, and Alphabet in a

The Philippines will impose a 12% value-added tax (VAT) on digital services offered by tech giants such as Amazon, Netflix, Disney, and Alphabet, in a move..