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.xs888999.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).
Recto: No exemption for US tech firms from digital tax
- Former DPWH chief denies links to corruption
- Islamic State claims deadly attack on Pakistan rally
- Two dead as strong earthquake jolts Afghanistan
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- Marcos opens Hyundai's shipyard in PH
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- House tackles P881B public works budget amid flood control anomalies
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
