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.”
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://jyxingfa.com
- Quezon City launches 'Healthy QC' ordinance to combat childhood obesity
- Xi says China 'unstoppable' in parade opening speech
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Putin ready to invade other countries, says Polish president
- Supreme Court urged to act on fake complaints
- Australia to tackle deepfake nudes, online stalking
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- MMDA inks deal with DBM for G-3 program
