MANILA, Philippines — Finance Secretary Ralph Recto said the government has neither discussed nor considered granting exemptions for United States technology firms from the Philippines’ newly implemented digital services tax, despite threats of retaliatory tariffs from President Donald Trump.
“We don’t even know how serious they are on any of that. There have been no communications to us. So there’s nothing to communicate,” Recto told reporters on the sidelines of the Senate hearingon Tuesday, stressing that exemptions for American companies are not yet on the table.
Recto: No exemption for US tech firms from digital tax
Trump recently warned that countries imposing digital taxes on US technology firms would face “substantial additional tariffs” on exports to the US, along with possible export restrictions on “highly protected technology and chips.”
Recto: No exemption for US tech firms from digital tax, This news data comes from:http://um-rq-mbkx-stdb.052298.com
The Philippines began enforcing its digital tax law in June, which subjects nonresident digital service providers such as Netflix, Amazon, and Google to the country’s 12-percent value-added tax (VAT).
- May 12 poll results accurate, credible - OCTA Research
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- P270M rock shed useless – Marcos
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- Social pension eyed for indigent seniors
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Thailand ruling party moves to dissolve parliament
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- Australia's 'mushroom murderer' handed life in prison with parole
