THE House of Representatives' ways and means committee on Wednesday approved a substitute bill imposing Value Added Tax (VAT) on digital transactions in e-commerce platforms and other services such as Lazada, Shopee, Netflix, and Spotify in a bid to raise revenues amid the pandemic.
The bill substituting House Bills 6765 and 6944 to include digital or electronic transactions in trade, business, or services that would be subjected to 12 percent VAT as an amendment to the National Internal Revenue Code of 1997.
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