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Posts tagged as “President Bong Bong Marcos”

Marcos signs law imposing 12% VAT on Netflix, Spotify, other digital services   

October 2, 2024

JM Chavaria, writing for Yugatech;

In a move aimed at bolstering government revenue, the Philippines has introduced a 12% value-added tax (VAT) on digital services offered by foreign firms. This includes popular platforms like Netflix, Spotify, YouTube, and Amazon, among other digital service providers (DSPs) — which have previously enjoyed tax exemptions.

Duey Guison, of Unbox.ph explains “Republic Act 112023, all services provided by resident and non-resident digital service providers regardless if they have a physical presence in the Philippines are subject to an additional 12% VAT. The law also adds a new provision to the Tax Code, where ‘”digital services delivered by foreign digital service providers are considered performed or rendered in the Philippines if the digital services are consumed in the Philippines.’”

The law does not only cover streaming service but basically “most” online service like ecommerce, digital platform or online merchant that caters to the Philippine market even if the company does not have any physical store or office in the Philippines.

In a press release, “Senate President Francis “Chiz” G. Escudero said the bill imposing a 12-percent value-added tax (VAT) on digital transactions will level the playing field for local and foreign digital service providers (DSPs), streamline tax administration and shore up government coffers by at least P80 billion in revenues.”

“Digital service is defined as any service supplied over the internet or other electronic network with the use of information technology and where the supply of the service is essentially automated. These include online search engines, online marketplace or e-marketplace, cloud service, online media and advertising, online platform, or digital goods.”

The law basically covers every companies doing online transaction.

President Bong Bong Marcos Jr. posted a message of “reconciliation” on the 37th anniversary of EDSA Revolution

February 25, 2023

On the 37th Anniversary of EDSA revolution a.k.a. People Power Revolution, President Ferdinand “Bong Bong” Marcos Jr. posted a message on his personal social media account, offering a “hand of reconciliation.”

He said;

As we look back to a time in our history that divided the Filipino people, I am one with the nation in remembering those times of tribulation and how we came out of them united and stronger as a nation.

I once again offer my hand of reconciliation to those with different political persuasions to come together as one in forging a better society — one that will pursue progress and peace and a better life for all Filipinos.

The 1986 Edsa People Power Revolution is known around the world as a bloodless revolution where millions of Filipinos gathered along the main arteries of Metro Manila which led to the ouster of former President Ferdinand Marcos Sr. due to fact that the Philippines have been under martial law for 14 years and the poverty rate rose from 41% in the 1960s to 59% right before he was removed from power.

During the 14 years of being under Martial Law, there have been 3,257 known extrajudicial killings, 35,000 documented tortures, 77 forced disappearances, and 70,000 incarcerations.

It was the assassination of Benigno Aquino Jr. that triggered the uprising of the Filipino and led to the 1986 Edsa People Power Revolution and the rest as they say is history.

For more reading regarding 1986 Edsa People Power Revolution, you can go here, here and here.