Internet transactions bill approved unanimously by House committee

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Photo from Canva

By Businessworld

The proposed Internet Transactions Act, which seeks to establish an electronic commerce (e-commerce) bureau, was unanimously approved by the House Trade Committee last Wednesday.

The committee had consolidated several bills before voting for the version it approved, invoking section 48 of the rules of the House of Representatives, which allows records of past proceedings to be made part of the committee’s own records.

The bill is one of the 19 priority bills cited by President Ferdinand R. Marcos, Jr. during his first address to Congress, in which he underscored the need for “a law (establishing) effective regulation of commercial activities through the internet or electronic means to ensure that consumer rights and data privacy are protected, innovation is encouraged, fair advertising practices and competition are promoted, online transactions are secure, intellectual property rights are respected, and where product standards and safety are observed.”

“As we all know, online, retail and e-commerce services are now a mainstay of our daily lives. The exponential rise and consequent prevalence of online purchases are largely due to the COVID-19 pandemic lockdowns that have constrained the everyday consumer to stay at home,” Batangas Rep. Mario Vittorio A. Mariňo, who chairs the committee, told the hearing.

“The growth of e-commerce transactions, however, resulted in the apparent need for government regulation,” he added.

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