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., This news data comes from:http://771bg.com
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).
- LPA affects Metro Manila, Mindanao, Visayas
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- France seized by fears of new political crisis
- 'Isang' leaves PAR, storm signals lifted - Pagasa
- NKorea could produce ten to twenty nukes per year — SKorea leader
- House resolution filed to investigate 'funders' of anomalous projects
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Maduro hits ‘illegal’ US troops deployment
- Former PNP chief Torre III offered new government post
