THE value-added tax (VAT) on digital media and advertising is projected to bring the government P102.12 billion in revenue by 2029, a Department of Finance (DoF) official said.
“We hope that… a lot of the DSPs (Digital Service Providers) will comply, so that we really reap the benefits of this measure,” DoF director and Organization for Economic Co-operation and Development Representative Euvimil Nina R. Asuncion told reporters on the sidelines of an event on Wednesday.
Republic Act No. 12023, which imposes a 12% value-added tax on digital services providers, both resident and non-resident, was signed into law in October.
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