digital-economy | ABS-CBN News

PH digital economy at P2.1-T in 2022, is 9.4 pct of GDP

ABS-CBN News
Posted at Apr 27 01:35 PM

The country's digital economy, valued at P2.08 trillion, contributed 9.4 percent of the Philippines' total gross domestic product (GDP) growth in 2022, according to the data from the state statistics bureau Read more »

PH 'fastest growing' digital economy in SE Asia: study

ABS-CBN News
Posted at Nov 24 03:06 PM

The report described the Philippines as the 'second fastest growing digital economy' in Southeast Asia, next to Vietnam. Read more »

Online sellers, influencers need to pay taxes: BIR

Jekki Pascual, ABS-CBN News
Posted at Nov 04 07:08 PM

BIR Commissioner Lilia Guillermo reiterated that all sellers must pay taxes, including those in the digital economy. Read more »

Cap sought on bank fees for digital fund transfers

ABS-CBN News
Posted at Aug 13 12:49 AM

Small businesses and digital economy workers in the Philippines back a proposal for a cap on bank fees for digital fund transfers. Read more »

Small businesses, digital nomads back capping bank transfer fees

Warren De Guzman, ABS-CBN News
Updated as of Aug 17 08:03 PM

Bank transfer fees should be regulated since these are biting into the income of small business owners and digital workers, groups said. Read more »

Volume of digital payments hit 20 percent in 2020: BSP

Jessica Fenol, ABS-CBN News
Posted at Oct 08 12:03 PM

The volume of digital payments in 2020 reached 20 percent, hitting the Bangko Sentral ng Pilipinas' target for the year, the central bank said. Read more »

Sectoral leaders: Digital shift, vaccines for economic frontliners key to reviving economy

Job Manahan, ABS-CBN News
Updated as of May 01 08:29 PM

MANILA — Members of the government's task force on job creation on Saturday said digital technology and COVID-19 vaccination are key in reviving the pandemic-battered economy. Read more »

E-commerce seen driving PH internet economy to $28 billion by 2025: Google

ABS-CBN News
Posted at Nov 27 05:19 PM

The booming e-commerce industry is seen to propel the Philippine internet economy, projecting to grow 4 times more to $28 billion by 2025, a Google official told ANC's Market Edge on Friday.   Read more »

Firms told: 'Build robust online presence' to thrive in future economy

Jessica Fenol, ABS-CBN News
Posted at Oct 07 08:43 AM

The coronavirus pandemic fast-tracked the growth of the digital economy in Southeast Asia by at least 5 years, a Facebook Philippines official said, as he encouraged firms to understand consumer behavior in the changing e-commerce environment.   Read more »

PH lags in use of digital tech compared to neighbors: World Bank, NEDA study

ABS-CBN News
Posted at Oct 05 05:21 PM

The study said the Philippines remains behind Singapore, Malaysia, Thailand, and even Brunei in the use of digital technologies by businesses, the government, and citizens. Read more »

Plants and sushi bake: Filipinos bet on low-budget 'rakets' to survive pandemic

Jessica Fenol, ABS-CBN News
Posted at Jul 27 03:39 PM

Many Filipinos who permanently or temporarily lost their jobs quickly pivot to home-based, online and low-budget businesses to earn a living during the pandemic and resulting lockdowns.    Read more »

Going digital only way to boost PH economy: budget chief

Arianne Merez, ABS-CBN News
Posted at Jul 15 03:03 PM

Digitalization is among the priorities of the government under its proposed P4.3 trillion spending plan for next year, Budget Secretary Wendel Avisado said. Read more »

Taxman after Netflix, Amazon, not small online sellers: BIR

ABS-CBN News
Updated as of Jun 17 10:00 AM

The Philippines' effort to tax digital services will focus on the likes of Netflix, Amazon and Alibaba, not small online sellers, a revenue official said Wednesday.  Read more »

Digital tax during pandemic to discourage online shift: Marcos

Katrina Domingo, ABS-CBN News
Posted at Jun 01 12:40 PM

Taxing digital services will discourage people from going online at a time when small businesses reeling from the COVID-19 pandemic seek refuge in e-commerce, the head of the Senate economic affairs committee said Monday. Read more »