VAT on digital services expected to raise billions for Manila govt

MANILA (Philippine Daily Inquirer/Asia News Network): The imposition of value-added tax (VAT) on digital service providers can generate billions in revenue that may be beneficial to the country’s socio-economic programs, said the Department of Finance (DOF) on Thursday (July 6).

During the Senate committee on ways and means’ public hearing on Thursday, the DOF expressed its “full support” for Senate Bill No. 250 and House Bill No. 4122 — two measures that seek imposition of value-added tax on digital transactions in the country.