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
“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://dwitf.erlvyiwan.com
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).
- South Korea's Lee faces pivotal test at first summit with Trump
- Firefighters arrested by US immigration officials
- China to bolster non-Western alliances at summit, parade
- Oil firms to raise fuel prices this week
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Trump tells Europe to put economic pressure on China over Ukraine
- Philippine experts urge harm reduction strategy for tobacco control
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Recto: No exemption for US tech firms from digital tax
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
