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://yamato-syokunin.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.
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).
- Japan prince comes of age as succession crisis looms
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Pump prices go up
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Bonoan resigns, Dizon named DPWH chief
- Wildfire tears through California gold rush town
- Fire breaks out in Manila residential area
- MMDA inks deal with DBM for G-3 program
- Israel military says controls 40 percent of Gaza City
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
