With the onset of economic recession and a record-high jobless rate, Gatchalian believes imposing taxes on the digital economy would only add an unnecessary burden to ordinary Filipinos who are trying to make ends meet to feed their families who are hit hard by the impact of strict quarantine measures.
The Vice Chairman of the Senate Committee on Economic Affairs also warned that premature taxation on online sellers at the height of economic turmoil would impede the growth of the country’s growing digital economy. The Philippines has not yet generated unicorns – a tech startup company that reaches a valuation of $1 billion – nor has our economy reflected the dynamism the Indonesian and Vietnamese eCommerce markets have reached, at 2.9 percent and 4 percent of GDP, respectively.
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