The Department of Finance is already working with the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) to draft implementing rules and regulations for a measure that would impose a tax on digital services provided by foreigners. However, the measure has not yet been signed into law by President Ferdinand Marcos Jr.
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Finance Minister Ralph Recto on Wednesday (August 7) expressed confidence that Marcos will soon sign the revenue-generating measure.
“Alam calls magiging batas 'to at pipirmahan ng Pangulo' 'to… Sinusuportahan namin ito,'” Recto said at a forum in Manila.
The bill passed by Congress imposes a 12% sales tax on digital transactions by non-resident digital service providers such as Netflix, HBO and Disney.
