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
“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://bakkiw.gyglfs.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.”
Recto: No exemption for US tech firms from digital tax
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).
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- DOJ indicts Abra Mining for fraudulent trading
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- France seized by fears of new political crisis
- ‘God’s Influencer’ to become first millennial saint
- Israeli protesters call for hostage deal ahead of cabinet meeting
- Israel ups pressure on Gaza City as Trump talks post-war plan
