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BIR says it’s up to foreign DSPs to raise prices after VAT law signing

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Transcript
00:00After President Ferdinand Marcos Jr. signed Republic Act No. 12023, imposing a 12% value-added tax or VAT on foreign digital services providers or DSPs like Netflix and Spotify,
00:15it is now up to these companies to decide whether to raise their product prices.
00:20BIR Commissioner Romeo Lomagui Jr. stated that any price increase is a business decision by the providers, not a certainty.
00:29The law requires quarterly taxes from foreign DSPs, including video streaming platforms, mobile applications, and social networks.

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