The Philippine domestic tax authority said on Thursday that the Philippines will impose a 12% value-added tax (VAT) on digital services provided by technology giants such as Amazon, Netflix, Disney, and Alphabet, in order to ensure fair competition with domestic brick-and-mortar retailers. President Ferdinand Marcos signed into law on Wednesday the taxation of non-resident digital service providers such as streaming services and online search engines."This will promote fair competition among companies profiting from Filipino consumers," said Romeo Lumagui, the chief of Thailand's tax bureau, in a statement:"A fair competitive environment can lead to better products and services."