{"id":19956,"date":"2024-07-30T03:02:41","date_gmt":"2024-07-30T03:02:41","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/"},"modified":"2024-07-30T03:02:41","modified_gmt":"2024-07-30T03:02:41","slug":"senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/","title":{"rendered":"Senate ratifies bicam report on 12% VAT on foreign digital service providers"},"content":{"rendered":"
\n

\n

THE SENATE on Monday adopted the bicameral conference committee report on a bill imposing a 12% value-added tax (VAT) on digital service providers without a physical presence in the Philippines such as e-commerce giants Amazon, Shein and Taobao.<\/p>\n

The reconciled version of the bill reinforces the Bureau of Internal Revenue\u2019s (BIR) power to \u201cimpose and collect VAT on digital services and transactions,\u201d Senator Sherwin T. Gatchalian said in a speech before the Senate adopted the report.<\/p>\n

The joint explanation of the bicameral conference committee said both Houses of Congress agreed to use the Senate version as \u201cthe working draft.\u201d<\/p>\n

The committee allowed the Department of Finance (DoF) to set withholding tax rates for companies falling under the P3-million VAT threshold under the Tax Reform for Acceleration and Inclusion (TRAIN) law to protect small online businesses.<\/p>\n

Under the measure, nonresident digital service providers and electronic marketplaces must register with the BIR for the remittance of VAT on their services. This will include online marketplaces like Amazon, Shein, Rakuten, Taobao, AliExpress and Temu. <\/span><\/p>\n

Digital services refer to those provided over the internet or other electronic networks using information technology. These include online search engines, online marketplaces, cloud services, online media and advertising, online platforms and digital goods.<\/p>\n

Currently, digital services provided by companies abroad are not subject to VAT, and lawmakers have said this hurts domestic rivals.<\/p>\n

\u201cWe are committed to paving the way for a level playing field. We believe in the importance of creating an environment where our digital service providers, whether they are nonresident or local, operate under fair and square tax policies,\u201d Mr. Gatchalian said.<\/p>\n

Under the bill,\u00a0 <\/span>5% of the revenues from digital service VAT \u2014 or about P900 million \u2014 will be used to support the digital creative industry. \u2014 KATA<\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

THE SENATE on Monday adopted the bicameral conference committee report on a bill imposing a 12% value-added tax (VAT) on digital service providers without a physical presence in the Philippines such as e-commerce giants Amazon, Shein and Taobao. The reconciled version of the bill reinforces the Bureau of Internal Revenue\u2019s (BIR) power to \u201cimpose and [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[4876,5659,9720,14644,718,3580,17142,18968,2544,4117,14852],"class_list":["post-19956","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-report","tag-5659","tag-bicam","tag-bworldonline","tag-digital","tag-foreign","tag-providers","tag-ratifies","tag-senate","tag-service","tag-vat"],"yoast_head":"\nSenate ratifies bicam report on 12% VAT on foreign digital service providers - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senate ratifies bicam report on 12% VAT on foreign digital service providers - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"THE SENATE on Monday adopted the bicameral conference committee report on a bill imposing a 12% value-added tax (VAT) on digital service providers without a physical presence in the Philippines such as e-commerce giants Amazon, Shein and Taobao. The reconciled version of the bill reinforces the Bureau of Internal Revenue\u2019s (BIR) power to \u201cimpose and [\u2026]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/\" \/>\n<meta property=\"og:site_name\" content=\"Energy Buzz\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-30T03:02:41+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/person\\\/344f8dbaaecf75e51367eef93f492892\"},\"headline\":\"Senate ratifies bicam report on 12% VAT on foreign digital service providers\",\"datePublished\":\"2024-07-30T03:02:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\\\/\"},\"wordCount\":303,\"publisher\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\"},\"keywords\":[\"\u2018report\",\"12,\",\"bicam\u2019\",\"bworldonline\",\"digital\",\"foreign\",\"providers:\",\"ratifies\",\"senate\",\"service\",\"vat\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\\\/\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\\\/\",\"name\":\"Senate ratifies bicam report on 12% VAT on foreign digital service providers - Energy Buzz\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#website\"},\"datePublished\":\"2024-07-30T03:02:41+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/energybuzz.ph\\\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Senate ratifies bicam report on 12% VAT on foreign digital service providers\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#website\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/\",\"name\":\"Energy Buzz\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/energybuzz.ph\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\",\"name\":\"Energy Buzz\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/EnergyBuzzLogo.png\",\"contentUrl\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/EnergyBuzzLogo.png\",\"width\":1315,\"height\":656,\"caption\":\"Energy Buzz\"},\"image\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/person\\\/344f8dbaaecf75e51367eef93f492892\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Senate ratifies bicam report on 12% VAT on foreign digital service providers - Energy Buzz","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/","og_locale":"en_US","og_type":"article","og_title":"Senate ratifies bicam report on 12% VAT on foreign digital service providers - Energy Buzz","og_description":"THE SENATE on Monday adopted the bicameral conference committee report on a bill imposing a 12% value-added tax (VAT) on digital service providers without a physical presence in the Philippines such as e-commerce giants Amazon, Shein and Taobao. The reconciled version of the bill reinforces the Bureau of Internal Revenue\u2019s (BIR) power to \u201cimpose and [\u2026]","og_url":"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/","og_site_name":"Energy Buzz","article_published_time":"2024-07-30T03:02:41+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/#article","isPartOf":{"@id":"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/"},"author":{"name":"admin","@id":"https:\/\/energybuzz.ph\/#\/schema\/person\/344f8dbaaecf75e51367eef93f492892"},"headline":"Senate ratifies bicam report on 12% VAT on foreign digital service providers","datePublished":"2024-07-30T03:02:41+00:00","mainEntityOfPage":{"@id":"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/"},"wordCount":303,"publisher":{"@id":"https:\/\/energybuzz.ph\/#organization"},"keywords":["\u2018report","12,","bicam\u2019","bworldonline","digital","foreign","providers:","ratifies","senate","service","vat"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/","url":"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/","name":"Senate ratifies bicam report on 12% VAT on foreign digital service providers - Energy Buzz","isPartOf":{"@id":"https:\/\/energybuzz.ph\/#website"},"datePublished":"2024-07-30T03:02:41+00:00","breadcrumb":{"@id":"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/energybuzz.ph\/senate-ratifies-bicam-report-on-12-vat-on-foreign-digital-service-providers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/energybuzz.ph\/staging\/6915\/"},{"@type":"ListItem","position":2,"name":"Senate ratifies bicam report on 12% VAT on foreign digital service providers"}]},{"@type":"WebSite","@id":"https:\/\/energybuzz.ph\/#website","url":"https:\/\/energybuzz.ph\/","name":"Energy Buzz","description":"","publisher":{"@id":"https:\/\/energybuzz.ph\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/energybuzz.ph\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/energybuzz.ph\/#organization","name":"Energy Buzz","url":"https:\/\/energybuzz.ph\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/energybuzz.ph\/#\/schema\/logo\/image\/","url":"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2023\/09\/EnergyBuzzLogo.png","contentUrl":"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2023\/09\/EnergyBuzzLogo.png","width":1315,"height":656,"caption":"Energy Buzz"},"image":{"@id":"https:\/\/energybuzz.ph\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/energybuzz.ph\/#\/schema\/person\/344f8dbaaecf75e51367eef93f492892","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/energybuzz.ph\/staging\/6915\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts\/19956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/comments?post=19956"}],"version-history":[{"count":0,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts\/19956\/revisions"}],"wp:attachment":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/media?parent=19956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/categories?post=19956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/tags?post=19956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}