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.
“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://jyxingfa.com
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).
Recto: No exemption for US tech firms from digital tax
- 1.2K pass Electrical Engineers exam
- Argentina hunts Nazi-looted painting revealed in property ad
- Chery Tiggo survives Creamline in cardiac five-setter in PVL Invitationals
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- More funding sought for sports commission
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Filipino fulfills dream of performing with K-pop group before home fans
- Zelenskyy: Russia trying to 'wriggle out' of peace talks
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- Search for survivors after Afghan earthquake kills 800
