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://www.jyxingfa.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.”
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).
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- LBC Express Holdings top executive to retire in Oct.
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- Thailand ruling party moves to dissolve parliament
- Laws signed on holidays, court branches
- Need a pee? Japan has QR code for that
- Filipino fulfills dream of performing with K-pop group before home fans
- Public Works chief to press criminal charges against Bulacan engineer
- 'New' position being offered to Torre — Palace
- No winner in Ultra, Megalotto draws for Aug 29
