12% VAT sa online shopping, streaming at iba pa na hatid sa PHL ng foreign companies, pirmado na | 24 Oras

2 days ago

Pirmado na bilang batas ang pagpataw ng 12% VAT o buwis sa mga digital service tulad ng online shopping at online videos. Tataas naman kaya ang singil para riyan?

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Transcript

00:00The 12% VAT of WIS is now legal in digital services like online shopping and online videos.

00:10Will that increase the single-payer rate?

00:13This is Ivan Mayrina.

00:18Because it's cheap and safe, Patrick is often adding to his favorite online shopping platform.

00:24This is Mang Ramon.

00:26Watching online is his favorite hobby.

00:28Because it's only P150 per month, there are a lot of movies to choose from.

00:33But how about their single-payer rate in online services now that WIS will be abolished?

00:38The law for that was passed by President Bongbong Marcos earlier

00:42under the VAT on digital services law

00:44passed by Senator Pia Cayetano, Senator Wynne Gatchalian, and Congressman Joey Salceda.

00:49The 12% value-added tax on digital services providers based abroad will also be abolished.

00:56Aside from online streaming and digital goods,

00:58there are also search engines, online marketplaces, and cloud services.

01:03The President clarified that this is not a new WIS.

01:06It's been around for a long time in local digital and online services.

01:09It's just a mechanism for foreign companies to sell their online business.

01:26According to one study, half of the internet users in the Philippines buy online once a week

01:32while three out of every ten Filipino internet users pay for TV and movie streaming.

01:37Almost all of the Filipino internet users who watch online videos, even if it's free,

01:42are making a profit because of WIS.

01:45That's why the government is confident that WIS will reach P100 billion in the next five years because of the law.

01:52This is enough to build 42,000 classrooms.

01:55More than 6,000 rural health units.

01:587,000 kilometers of farm-to-market roads.

02:01Many Filipinos enjoy online, on-demand audio and video streaming platforms.

02:07With the addition of the law, 12% VAT will be imposed on these platforms.

02:11What effect will this have on our monthly subscriptions?

02:14As to whether there will be a price increase, it doesn't necessarily follow.

02:19It's a business decision by the service providers.

02:22So there can be a price increase, but again, I think it would be minimal.

02:28It's not 12% automatically.

02:30For us, it's a big deal.

02:31If they put VAT, it will be an additional expense.

02:35I hope the VAT is not too high.

02:39All that will be collected will be returned to us in terms of government services and social welfare services.

02:465% of the WIS that will be circulated in the next five years

02:49will be covered by the law that will go to the creative industries.

02:52Not to the education services like online courses and webinars.

02:57Those who do not comply with the law may be blocked by the BIR so that they can no longer operate.

03:02For GMA Integrated News, Ivan Mayrena, Katutok, 24 Horas.

12% VAT sa online shopping, streaming at iba pa na hatid sa PHL ng foreign companies, pirmado na | 24 Oras

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