DTI backs VAT on foreign digital services to bolster local creatives

  • 14 hours ago
DTI backs VAT on foreign digital services to bolster local creatives

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Transcript
00:00The Department of Trade and Industry or DTI announced a new 12% value-added tax or VAT
00:05on foreign digital service providers that would encourage fair competition for local platforms.
00:11This law is expected to generate 105 billion pesos in five years with 7.25 billion pesos
00:18anticipated in 2025. It allocates 5% of this revenue to the Malika Inkunoy program
00:24supporting over 7.26 million Filipinos in creative jobs and aiming to make the
00:30Philippines a leading creative hub in Asia by 2030.

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