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., This news data comes from:http://www.705-888.com
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
- Denmark summons US envoy over 'attempts to influence' Greenland
- Lacson replaces Marcoleta as Blue Ribbon panel chairman
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Fuel prices up for 3rd straight week
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Alex Eala makes history With comeback victory at US Open
- New judge to handle Dengvaxia cases named; hearing set
- US appeals court finds Trump's global tariffs illegal
- Two dead as strong earthquake jolts Afghanistan
