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://www.erlvyiwan.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).
- DPWH to revisit budget, to complete revisions within 2 weeks
- Trump says he'll keep extending TikTok shutdown deadline
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- PH to see ‘blood moon’ Sept. 7-8
- Portugal mourns after Lisbon streetcar accident kills 15
- National Guard troops begin carrying weapons in US capital
- Housing secretary declares 'zero-tolerance' policy on corruption
- Motorist in San Juan traffic spat faces sanction
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Giovanni Lopez pledges to continue and expand DOTr reforms
