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.
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://jyxingfa.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
- PNP chief supports lowering age of discernment
- Thai court to rule on PM's fate after Hun Sen call leak
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- Van Gogh Museum 'could close' without more help from Dutch govt
- Japan PM decides to quit as opponents seek leadership election: reports
- LPA may still develop into short-lived tropical cyclone
- Police officers face more charges in missing cockfight enthusiasts case
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Israel ups pressure on Gaza City as Trump talks post-war plan
- China is showing off its weaponry in a tightly controlled military parade
