The Internet Transactions Act (ITA) is on the verge of becoming law as it awaits President Ferdinand “Bongbong” Marcos Jr.’s approval, having been endorsed by the House of Representatives after adopting the Senate’s version, as confirmed by Senator Mark Villar on Tuesday.
Senator Villar revealed this development during the Senate finance committee hearing, where he discussed the Department of Trade and Industry’s budget proposal for the fiscal year 2024.
The House of Representatives officially embraced Senate Bill 1846 on September 27, as per information available on their website. The bill had previously obtained Senate approval on its third and final reading on September 25.
The ITA introduces subsidiary liability for digital platforms or e-marketplaces in case of a failure to fulfill responsibilities as outlined in the legislation, resulting in consumer harm. Additionally, the proposed legislation outlines a code of conduct for all e-commerce businesses, aimed at safeguarding and promoting consumer interests.
Once enacted, Senator Villar believes the ITA will play a crucial role in curbing online scams and ensuring the safety of both consumers and merchants engaged in e-commerce. This initiative aligns with President Marcos’ call, made during his first State of the Nation Address, for Congress to approve comprehensive e-commerce legislation.
