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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

Global market update.22:42 ET

Philippines Imposes 12% Value-Added Tax on Netflix, HBO Services

BNN Bloomberg22:15 ET

Form 144 | Netflix(NFLX.US) Officer Proposes to Sell 31.98 Million in Common Stocks

SEC FILLINGS DISCLOSED/ Oct 1, $Netflix(NFLX.US)$ Officer HASTINGS REED intends to sell 45,290 shares of its common stock on Oct 1, with a total market value of approximately $31.98 million.

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