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://redcanaco.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).
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Malabon averts crisis with garbage deal
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
- India will not 'bow down,' trade minister says after US tariffs
- 9 dead in Ecuador after bus plunges into ravine
- Prompt release of educational aids sought
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Trump health misinformation swirls despite denial
- Marcos names acting Ombudsman
