Pres. Bongbong Marcos Wants Digital Tax Imposed on Online Services
DIGITAL TAX – President Bongbong Marcos pushed for the imposition of taxes on digital services to generate more funds.
Pres. Bongbong Marcos has started his six-year term as the country’s Chief Executive. Last June 30, he took his oath as the country’s 17th president. The inauguration was held at the Philippine National Museum where the Marcoses, his Cabinet members, and several key personalities in the different fields were gathered for the national event.
Several former presidents of the Philippines and key officials from other nations attended the oath-taking of Marcos Jr. He won the 2022 presidential race in a landslide victory after getting 31 million votes. A few days after his inauguration, the 64-year-old President tested positive for COVID-19. He was in isolation for 7 days and he quickly recovered from the disease.
His recent bout against COVID-19 was not the first time that Marcos Jr. battled against the disease. He was one of the high-profile politicians who contracted the disease during the early months of the pandemic.
Recently, Pres. Bongbong Marcos had his first State of the Nation Address (SONA) at Batasang Pambansa. One of the things he mentioned is the implementation of digital tax on services done online.
Prior to SONA, there were already talks about digital tax imposition on services since many people are into availing goods and services online now. To this, several small business owners and sellers are against while other business owners are in favor citing that it will provide a fair ground between online sellers and those who have physical stores.
Based on a report on ABS-CBN News, Pres. Bongbong Marcos said that the government will implement taxes on digital goods and services. According to him, the implementation of digital tax will help the government generate P11.7 billion in 2023.
Marcos Jr. wants the lawmakers to pass the “Internet Transaction Act or E-Commerce Law” that would regulate commercial activities online. As of this writing, there are still no further details about this new tax that the President wants.
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