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., This news data comes from:http://rjq.ycyzqzxyh.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.
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
- Marcos wants subpoena power for body investigating flood projects
- US appeals court blocks Trump's use of wartime law for deportations
- Nepal to block unregistered social media platforms – govt
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- 10 DPWH execs in Bulacan relieved over ghost flood control projects
- UN: Rising heat 'severely' impacting workers' health
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- Xi and Putin round on West at regional summit in China
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
