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
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.”, This news data comes from:http://aichuwei.com
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).
Recto: No exemption for US tech firms from digital tax
- Trump moves to cut more foreign aid, risking shutdown
- LTO summons driver who berated MMDA enforcer
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- North Korea test-fires two 'new' air defense missiles
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Gloria Arroyo files bill to empower Office of the Vice President
- ‘Large shark’ kills man off Sydney beach
- Marcos orders lifestyle checks on all government officials amid flood control probe
- 'Strangest' dinosaur covered in spiked armory – scientists
