"We need to have a pool actually of manpower so that we can have this vibrant digital economy," Edillon noted. This would include the imposition of a value-added tax on digital service providers, which would generate an initial revenue impact of about P11.7 billion in 2023. There is still potential for more digital transformation initiatives, and the Covid-19 pandemic has only emphasized how important they are. The Philippines' digital economy has a lot of room to grow because of its youthful and tech-savvy population, the firm added. "So it gets from agriculture, and then also, you know, sends it over to the service sector.

Source: Manila Times August 02, 2022 04:52 UTC