Philippines Imposes 12% VAT on Netflix, Disney Services

Seeking Alpha05:04 ET

The Philippines imposes a 12% value-added tax on foreign digital services such as netflix.

Philippine President Ferdinand Marcos Jr. signed a law on Wednesday imposing a 12% value-added tax on non-resident digital service providers, including netflix, HBO, and disney. This new law is one of the first revenue priority measures passed during Marcos's administration, covering online search engines, media, advertising, platforms, as well as digital markets, commodities, and cloud computing services. In a speech during the signing ceremony, Marcos said, "If you are reaping the benefits of a productive digital economy here, then you should also contribute to its growth." He added

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