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| Photo courtesy of Business World |
Manila, Philippines—A significant milestone for the digital economy was reached as the Implementing Rules and Regulations (IRR) of Republic Act No. 11967, also known as the Internet Transactions Act (ITA), were officially signed and released on May 24, 2024. Spearheaded by the Department of Trade and Industry (DTI), these comprehensive guidelines provide clear regulations for all online businesses, aiming to foster a safer and more trusted e-commerce environment across the Philippines.
The release of the IRR is a crucial step towards implementing the landmark Internet Transactions Act, which was enacted to protect consumers and promote fair business practices in the rapidly expanding digital marketplace. The rules cover a wide array of online transactions, establishing mechanisms for dispute resolution, addressing fraudulent activities, and defining the responsibilities of online merchants, e-commerce platforms, and digital payment systems.
DTI Secretary Alfredo Pascual emphasized the transformative impact of the new regulations. "The issuance of the ITA-IRR marks a new era for e-commerce in the Philippines," Secretary Pascual stated during the signing ceremony. "This is a testament to our commitment to create a robust and secure online ecosystem where consumers can confidently engage in digital transactions, and businesses can thrive with clear and fair rules."
The IRR details provisions for consumer protection, including stricter rules on product returns, refunds, and warranties for online purchases. It also mandates the establishment of an E-Commerce Bureau within the DTI, which will be responsible for resolving consumer complaints and monitoring compliance with the law. This bureau is expected to be a key pillar in ensuring that online transactions are transparent and accountable.
For online businesses, the new rules bring clarity regarding registration requirements, data privacy, and accountability for online selling. While the regulations aim to foster trust, industry players are encouraged to thoroughly review the IRR to ensure full compliance and understand their obligations under the new legal framework. This legislative effort is poised to accelerate the growth of the Philippine digital economy by building greater confidence among online consumers and businesses alike.
