President Marcos signs law to impose 12% VAT on digital services, pati damay Codashop o Steam?

According to a recent article by Philstar President Ferdinand Marcos Jr. has signed a law that taxes foreign digital services. Basically, on Republic Act 112023, there will be a 12% value-added tax on digital services provided by resident and non-resident digital service providers. This is regardless of whether they have a physical presence in the Philippines.

What are digital services? Examples include online search engines, e-marketplaces, cloud services, online media, advertising, digital platforms, and digital goods. These are streaming platforms like Netflix or Disney it also covers online shopping like Temu, Amazon, Shopee or lazada and of course gamers it affects Codashop for mobile users, Valorant Points, Tiot points, steam, epic games, and everything that falls under digital services

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