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.”
Recto: No exemption for US tech firms from digital tax
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)., This news data comes from:http://kviu.052298.com
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- US church shooter 'obsessed with idea of killing children'
- US senators to reinforce 'partnership' with Taiwan
- SSS rolls out historic pension reform program
- AFP chief tells troops: Stop Chinese from entering PH ship marooned on WPS territory at all cost
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Thailand acting PM moves to dissolve parliament — party
- PNP enlists Interpol help in hunt for Japanese mastermind behind Manila double murder
