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://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).
Recto: No exemption for US tech firms from digital tax
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Discaya says her family owns nine companies
- PH to host seafarers’ welfare forum
- Marikina City chief of police relieved
- Putin facing mounting pressure from the West
- President Marcos to attend 80th UN General Assembly in New York
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- SEARCH WARRANT
- Trump health misinformation swirls despite denial
- Venezuela builds up border security over US warships
