DTI eyes release of Internet Transactions Act’s IRR this month
MANILA, Philippines — The Department of Trade and Industry (DTI) is set to release the implementing rules and regulations (IRR) for the Internet Transactions Act this month, paving the way for the implementation of a law that will provide greater protection to consumers and businesses in the online space.
Trade Undersecretary Mary Jean T. Pacheco, the government agency’s e-commerce lead, gave this timeline to reporters Thursday.
“We just wanted to make sure that we considered all the comments (from) the public,” Pacheco said on the sidelines of the logistics forum in Makati organized by logistics and courier firm Ninja Van.
READ: Country’s total e-commerce value may reach $24B in two years
The trade official said they received several inputs from stakeholders and needed time to consider their inclusion in the IRR that was initially set for release back in March.
Also, Pacheco said they further clarified in the IRR the definitions of what transactions will be considered consumer-to-consumer, which are exempted under the law.
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Other areas which they are working on include the planned online business database, blacklisting guidelines, and the establishment of an e-commerce trust mark.
Article continues after this advertisementREAD: President signs PPP Code, Internet Transactions Act into law
President Ferdinand R. Marcos Jr. signed the law in December of 2023, months after it had been identified as part of the Marcos administration’s priority legislative measures during his State of the Nation Address.
The Internet Transactions Act is aimed at promoting e-commerce transactions by providing a more regulated and safer digital space for both consumers and enterprises.
READ: The Internet Transactions Act of 2023
It mandates the creation of an e-commerce bureau, which will be under the DTI, that will then create an online business registry that will provide government and consumers access to information about businesses selling online.
According to a 2023 study done by Google, Temasek, and Bain & Company, the Philippines’ internet economy was valued at $7.5 billion in 2020, which is projected to grow about five times to $35 billion by 2025.
The same study reported that e-commerce, food delivery, and video-on-demand were the top three growth drivers of the Southeast Asian country’s internet economy.
