THE Philippine government's plan to impose a 12 percent value-added tax (VAT) on digital transactions points to the growing importance and value of the digital economy. Once in effect, this tax on digital services is expected to generate P11.7 billion in government revenue. Not everyone is happy about it, for sure, but considering the trends surrounding digital media it's not surprising how much focus is shifting to that other reality.
According to Deloitte's 2023 Digital Media Trends, millennials and Gen Zs are driving the shift to an increasingly blended reality of the physical and digital. The way these younger cohorts are consuming digital media and interacting in this space is making it just as important as the physical world.
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