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BIR says VAT on foreign DSPs is not a new tax

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Transcript
00:00The Bureau of Internal Revenue or BIR stated that the VAT on digital services from foreign entities is not a new tax.
00:08BIR Commissioner Romeo Lumagi Jr. explained that the new law fosters fair competition
00:14by ensuring both local and foreign companies doing business in the country are subject to the same VAT.
00:21The law mandates that foreign digital service providers with gross sales or receipts exceeding 3 million pesos in the past year
00:29must register for VAT.

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