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BIR, Landbank to create VAT portal for foreign digital services providers

BIR, Landbank to create VAT portal for foreign digital services providers

Provided by Philippine Daily Inquirer.

BIR, Landbank to create VAT portal for foreign digital services providers
Signing of the partnership agreement between BIR and Landbank to develop VAT portal for digital service providers (Photo from Landbank)



MANILA, Philippines — The Bureau of Internal Revenue (BIR) has partnered with Land Bank of the Philippines to develop a portal for digital services providers located outside the Philippines to help them conveniently file and pay their value-added tax (VAT) obligations.

BIR Commissioner Romeo Lumagui Jr. and LandBank president and CEO Lynette Ortiz formalized the partnership through a memorandum of agreement signed on July 8.

The collaboration is in line with Republic Act No. 12023, which mandates the imposition of VAT on foreign digital service providers like Netflix, Amazon, Disney, Google and Alphabet for services consumed within the country.

READ: Marcos signs law imposing 12% VAT on digital services from offshore firms

Landbank said it would serve as the solution provider for the portal’s development and maintenance, while BIR will oversee implementation and policy compliance. /dda

 

 

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