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, This news data comes from:http://xs888999.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).
Recto: No exemption for US tech firms from digital tax
- Trump move to cut more foreign aid risking shutdown
- PH has chance of getting UNSC seat - Manalo
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Makati earns high rating in anti-trafficking and violence assessment
- EU massive fine against Google draws Trump threat
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Marcos to attend UN meet in New York in Sept- Palace
- NKorea accuses South of ‘serious provocation’
- Firefighters arrested by US immigration officials
