Philippines: Entry into force with grace period of Bill Amending and Adding New Sections of the National Internal Revenue Code including 12% VAT on digital services (SB No. 2528)
Description
Entry into force with grace period of Bill Amending and Adding New Sections of the National Internal Revenue Code including 12% VAT on digital services (SB No. 2528)
On 18 October 2024, the Bill Amending and Adding New Sections of the National Internal Revenue Code, including 12% VAT on digital services (SB No. 2528), enters into force. The Bill mandates nonresident digital services providers (DSP) to register f…
Scope
Policy Area
Taxation
Policy Instrument
Indirect taxes
Regulated Economic Activity
online advertising provider, digital payment provider (incl. cryptocurrencies), streaming service provider, platform intermediary: e-commerce, search service provider, infrastructure provider: cloud computing, storage and databases
Implementation Level
national
Government Branch
executive
Government Body
central government
Complete timeline of this policy change
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2024-01-30
under deliberation
2024-07-30
adopted