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.
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.”
Recto: No exemption for US tech firms from digital tax, This news data comes from:http://gangzhifhm.com
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).
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- New Zealand to allow some wealthy foreign investors onto property market
- Nartatez rules out 'quota' arrests
- Pope meets with Chagos refugees and delivers message about rights of the weak against the powerful
- No winner in lotto draws for Aug 28
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Duterte lawyers take aim at ICC prosecutor
- Venezuela deploys warships, drones as US destroyers draw near
