Soon we will be paying more for digital services, even internet identifier like domain names can be included, and that's a definitive VAT. In PH it's equivalent to 12%. Although, we still have to see invoice for domain names registration and renewal fees being added with VAT. You should be getting reminders from your local and international service providers to key-in your tax details, if you haven't yet done so. We must say, this is especially for those who had to directly acquire digital services with the source and not through local resellers. If you've been dealing with local resellers, your digital services may probably have been subjected with, and had added, VAT included in your payment ever since. You should be, but you have to check it. For online local retailers, you may have been VAT registered and paying your taxes with or without that digital tax. Don't take this as an advice and ascertain it with your accountant to be sure.
From time immemorial to pre-digital regulations businesspeople and their employees have been attending to a lot of business-related policies and requirements imposed either by government where they have operational presence, commitment to acceptable practices and their own industry which includes
- human resources,
- labor,
- customers,
- food,
- nutrition,
- medicine,
- insurance,
- environment,
- workplace,
- sanitation,
- fire,
- electric,
- accreditation,
- licenses,
- securitization,
- trades,
- taxes,
- audit.
Not every business have to deal with all of the above at once. Only those where their business have to do with any or some of them. However every business have to pay taxes and deal with employees, labor, accreditation, licenses including but not limited to safety procedures. In this case the decision makers are mostly businesspeople and they get better with some help for validation from their qualified experts.
The present and beyond digital regulations include both pre-digital and everything that has something to do with technology including
- infrastructure,
- communication,
- data,
- security,
- privacy.
Business decision makers could exclusively operate and it was a lot faster to get things done during pre-digital. There was nobody to take responsibility on everything but them alone or some delegated ones with subordinates.
While decisions can be made to be more straightforward and are single-handedly designed by businesspeople, the pre-digital and present requirements have made decisions to be dealt with by both business and technical leaders.
While it's obvious where the coffer is, with pre-digital and present regulations being addressed in a coherent manner as possible, the difference and frequency how and when requirements are defined and submitted for conformance purposes vary accordingly for business and technology people.
In short it is not the only thing being done by the stakeholders. Besides, when we say business, it is about profit and technology must make lives a lot easier for everyone and the enterprise first and foremost.
Business and technical decision makers have to work together. Technology cannot be an excuse to many for not being able to deliver production and customers' expectations. It cannot be that problems are perpetrated, created time and again and even resolutions are impulsive and inconclusive while technology itself is regularly and continuously gets to be improved. Check out how iclassed can make business conformance an effortless but deliberate initiative.
Blockchains appears to have more room for improvement and ordinary people will either adapt to its promising liberal features or just ignore it due to its inherent design flaws and limitation which is only handy for the tenacious geeks. We will find out.
Have you ever wondered if your local telco or ISP has allowed its transit a traffic bursts? This may tell customers or even regulators something else about network congestion, erratic and slow connection, and why customers complained a lot about their poorly managed and sluggish internet experience.
Comments