Business

Salceda continues aggressive push to tax digital transactions

Congress is racing against time to calitalize on the online spending boom amid the coronavirus pandemic.

House Ways and Means committee chair Joey Salceda defended yet again his proposal to impose a 12% value-added tax on online purchases and digital subscriptions.

He said now is the best time to do it despite the tough business environment.

“This is one of the portions of the economy that’s actually rising very fast. And therefore, the earlier that you are able to put them in the regular domain of taxation, it’s far better,” Salceda said.

Salceda wants foreign corporations selling digital services such as Netflix, Spotify and others to pay for VAT to help generate new revenues for the government’s COVID-19 response program.

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