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
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, This news data comes from:http://www.771bg.com
- Xi slams 'bullying' in speech to regional leaders at summit
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- Trump moves to end US tariff exemption for small packages
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- 500 Internal Server Error
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- N. Korea test-fires two 'new' air defense missiles
