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://gangzhifhm.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
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- DSWD allocates P6.2B for livelihood program
- PNP chief Torre relieved from post — Palace
- LBC Express Holdings top executive to retire in Oct.
- Villanueva: Regularize contractual govt workers
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Rise in HFMD cases due to better reporting, not outbreak
- Trump rebrands Department of Defense as 'Department of War'
- IBP forms committee on good governance to probe corruption
