Summary
- The Philippines will impose a 12% value-added tax on digital services offered by tech giants like Amazon, Netflix, Disney, and Alphabet.
- The new law aims to level the playing field with domestic brick-and-mortar players in the country.
- Only domestic digital service providers are subject to paying the VAT.
- The government plans to collect $1.9 billion from the VAT between 2025 and 2029.