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.052298.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.”
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).
- Maduro calls for dialogue hours after Trump’s threat
- Mandela grandson says he will join Gaza aid boat
- Drones take on Everest's garbage
- Konektadong Pinoy Bill has lapsed into law — Palace
- Harold Cabreros takes post as new OCD chief
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Marcos inspects rock shed project in Benguet
- Chinese bridge collapse kills at least 12 construction workers
- DBP launches P50M program for education
- Plea written in blood saves Chinese woman trapped in locked room
