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Philippines: Bill plans tax on tech firms to fund COVID-19 fight

A bill has been introduced in the Philippines’ parliament, aiming at taxing big tech firms such as Facebook, Google and Youtube, Netflix and Spotify, to raise funds for the COVID-19 fight.
Philippines: Bill plans tax on tech firms to fund COVID-19 fight ảnh 1A worker examines medical face masks in Manila, the Philippines, on May 15 (Photo: Xinhua/VNA)

Hanoi (VNA) – A bill has been introduced in thePhilippines’ parliament, aiming at taxing big tech firms such as Facebook,Google and Youtube, Netflix and Spotify, to raise funds for the COVID-19 fight.

The bill looks to raise 29 billion PHP (571million USD) by imposing a value added tax on digital services provided in thePhilippines, a key growth area for e-commerce transactions as its people areamong the world's heaviest users of social media.

Congressman Joey Salceda, the bill's principalauthor, said the country spent to fight COVID-19 and it needs more to continuefighting it and recover.

He said starting next year, funds raised fromnew taxes would also be used to finance digital programmes such as a nationalbroadband project and digital learning to fill the education gap caused byschool closures.

However, it may take a while before the proposalis scheduled for debate as lawmakers are busy deliberating on an economicstimulus package to jumpstart the Philippine economy, ravaged bypandemic-induced lockdowns.

Last week, neighbouring Indonesia announcedplans for VAT of 10 percent on digital products from July to boost revenuesamid the pandemic./.
VNA
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