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A tax loophole in e-commerce

September 26, 2022
Source: manilastandard.net manilastandard.net
News Snapshot:
“While there is no doubt that e-commerce will be a key pillar of our economic recovery, there must be fair competition and a well-balanced enabling policy environment that will instill discipline in the online marketplace” According to 2021 data from the Department of Trade and Industry, e-commerce generated US$22.6 billion or P1.1 trillion to the country’s gross domestic product (GDP). This year the target in e-commerce revenues is US24.2 billion or P1.2 trillion which would be 5.5 percent of GDP. The DTI is anticipating exponential growth in the number of e-commerce businesses from 750,000 in 2021 to 1 million by...
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