This was revealed by the Philippine Institute of Development Studies (PIDS) in its latest book, "Critical Issues in the Philippine Digital Economy" which offers valuable insights into the country's digital economic landscape.
Lawyer Rule Oporto, a tax expert and senior director for business tax services at SGV & Co., has urged businesses engaged in exports and e-commerce to comply with the invoicing requirements as the Bureau of Internal Revenue (BIR) is expanding the coverage of its electronic invoicing system (EIC) implementation.
The new project, which will be based in The Uprise Building-C in Davao City, will provide information technology, call center, and back-office operations services, primarily targeting the export market, particularly Optum Technology, a US subsidiary of UnitedHealth Group Incorporated (UHG).
Manila made a huge leap in its startup ecosystem value this year, growing by 85% to post an impressive $3.5 billion from a value of $2.1 billion, according to the 2023 Global Startup Ecosystem Report (GSER).
NEDA secretary Arsenio Balisacan told participants of the Philippine economic briefing held at the Fullerton Singapore on Thursday, June 15, that the government is promoting PPPs as a mode of financing the Infrastructure Flagship Projects (IFPs) and other high-impact projects in physical, digital, and social infrastructure.
The government is losing substantial revenue as it struggles to impose taxes on digital transactions and non-resident digital service providers amid the digital commerce boom, said a law expert at a webinar organized by state think tank Philippine Institute of Development Studies (PIDS).
A UP Law professor explained that the current tax system was developed for brick-and-mortar or traditional businesses with a physical location and is not applicable for e-commerce firms.
The eGov SuperApp, which underwent a lengthy beta test before its launch, brings most online government services in a single platform, including the eTravel system which travelers need to use when leaving or entering the country.
