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.
Recto: No exemption for US tech firms from digital tax, This news data comes from:http://pn.jyxingfa.com
“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).
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- COA probes Iqbal on spending of P1.7B in one day
- Police officers face more charges in missing cockfight enthusiasts case
- Giovanni Lopez pledges to continue and expand DOTr reforms
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- DBP launches P50M program for education
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- Trump stamps 'dictator chic' on Washington
- Philippines presses call for ceasefire in Gaza
