The Philippine government has decided to impose a 12 percent tax on digital platforms that are not established in the country. This decision concerns many companies, from Netflix to Google.
The Republic of the Philippines has made a remarkable decision regarding digital content platforms in the country. Within the scope of this decision, many digital platforms, especially Netflix, HBO and Disney, 12 percent They will be subject to tax.
According to the decision taken by the Philippine government, digital service providers in the country established presence It will be necessary. Otherwise, tax will be implemented if these services are used. Like Google, the decision taken search engines Let’s say that it also includes social media platforms.
The aim is to provide resources to the cash register
The main reason why the Philippine government took such a decision is to save the country’s coffers. insert extra money. According to the estimates of the authorities, the money that will enter the treasury with such an arrangement will be within the next 4 years. $1.4 billion levels will be reached.
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Making a statement on the subject, Philippines Ferdinand Marcos Jr. said, “If you are reaping the fruits of an efficient digital economy here, you can also help it grow. you need to contribute.” he said. Finally, he stated that this type of regulation already exists in Turkey and that digital content platforms are not available in our country. get a license Let us remind you that they must have an official presence.
Source :
https://www.bloomberg.com/news/articles/2024-10-02/philippines-imposes-12-value-added-tax-on-netflix-hbo-services?embedded-checkout=true