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, This news data comes from:http://www.redcanaco.com
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
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).
- La Niña may return but temperatures will remain high, UN says
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- Navotas holds anti-plastic drive
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- US warship heading toward Caribbean Sea
- PH economic losses hit 100B from corruption in flood control projects
- Yemen's Huthis hold funeral for PM killed in Israeli strike
