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://fbh-rou-ei-yjaf.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).
- Trump tells Europe to put economic pressure on China over Ukraine
- Palace hits Discayas over ‘misinformation’ on PH film center project
- Go files housing development bill
- Argentina hunts Nazi-looted painting revealed in property ad
- Indonesia's delayed new capital risks 'white elephant' status
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- AboitizPower pushes growth with clean, renewable energy
- Cambodia MPs pass law allowing stripping of citizenship
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Villanueva: Regularize contractual govt workers
