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://vqp-pp-tx-ib.xs888999.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.”
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).
- Thousands protest in Nepal over social media ban, corruption
- North Korean leader inspects new missile factory ahead of visit to China
- Giovanni Lopez pledges to continue and expand DOTr reforms
- Harold Cabreros takes post as new OCD chief
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Japan prince comes of age as succession crisis looms
- Venezuela builds up border security over US warships
