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://705-888.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
- Labubu fans flock to stores after launch of mini dolls
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- Trump moves to cut more foreign aid, risking shutdown
- COA launches sweeping audit of flood control projects
- Mass housing developers laud Pag-IBIG Fund
- Comelec probes 15 govt contractors over 2022 election donations
- Puno seeks probe of anomalous projects ‘funders’
- Argentina hunts Nazi-looted painting revealed in property ad
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- No winner in Ultra, Megalotto draws for Sept 5
