Philippines: Bill plans tax on tech firms to fund COVID-19 fight
A bill has been introduced in the Philippines’ parliament, aiming at taxing big tech firms such as Facebook, Google and Youtube, Netflix and Spotify, to raise funds for the COVID-19 fight.
A worker examines medical face masks in Manila, the Philippines, on May 15 (Photo: Xinhua/VNA)
Hanoi (VNA) – A bill has been introduced in thePhilippines’ parliament, aiming at taxing big tech firms such as Facebook,Google and Youtube, Netflix and Spotify, to raise funds for the COVID-19 fight.
The bill looks to raise 29 billion PHP (571million USD) by imposing a value added tax on digital services provided in thePhilippines, a key growth area for e-commerce transactions as its people areamong the world's heaviest users of social media.
Congressman Joey Salceda, the bill's principalauthor, said the country spent to fight COVID-19 and it needs more to continuefighting it and recover.
He said starting next year, funds raised fromnew taxes would also be used to finance digital programmes such as a nationalbroadband project and digital learning to fill the education gap caused byschool closures.
However, it may take a while before the proposalis scheduled for debate as lawmakers are busy deliberating on an economicstimulus package to jumpstart the Philippine economy, ravaged bypandemic-induced lockdowns.
Last week, neighbouring Indonesia announcedplans for VAT of 10 percent on digital products from July to boost revenuesamid the pandemic./.
The Philippines’ Bureau of Customs (BOC) is rolling out the electronic tracking of containerised cargo (E-TRACC) system in various ports nationwide next month as part of efforts to automate operations and processes towards enhanced trade facilitation and strengthened border protection.
The Philippines' headline inflation further slowed down to 2.2 percent in April, from 2.5 percent in the previous month, the Philippine Statistics Authority (PSA) said on May 5.
The Philippines’ GDP shrunk 0.2 percent in the first three months of 2020, recording the first contraction since the fourth quarter of 1998, announced the Philippine Statistics Authority (PSA) on May 7.
The Malaysian government has decided to extend the travel and business restrictions for four more weeks until June 9 in the context that the Southeast Asian country gradually reopens its economic activities.
The Philippines announced on May 12 an easing of restrictions on economic activities in its capital city of Manila from May 16 while extending a lockdown on the main island of Luzon to stem the coronavirus outbreak.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
A worker examines medical face masks in Manila, the Philippines, on May 15 (Photo: Xinhua/VNA) 
