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, This news data comes from:http://vrlxiesx.yamato-syokunin.com
“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.”
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).
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Dizon to order DPWH officials to submit courtesy resignation
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- PH has chance of getting UNSC seat - Manalo
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Pacifist Japan struggles to boost troops as China anxiety grows
- 'Strangest' dinosaur covered in spiked armory – scientists
- Pasig Mayor Vico Sotto attends House flood control probe
- Putin and Modi in China for summit hosted by Xi
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
