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.
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://ewucxjs.ycyzqzxyh.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).
- NBI starts own inquiry of DPWH contracts
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- Putin lands in Tianjin for summit hosted by China
- Marcos soon to create commission to probe flood control projects
- La Niña may return but temperatures will remain high, UN says
- Portugal mourns after Lisbon streetcar accident kills 15
- Private groups back DHSUD chief's anti-corruption policy
- SpaceX cancels Starship megarocket launch
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
