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://ifw.xs888999.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.”
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).
- Eala ousts Day, enters Guadalajara Open final
- 'Strangest' dinosaur covered in spiked armory – scientists
- Trump tells Europe to put economic pressure on China over Ukraine
- Ukraine says Russia linked to lawmaker's killing
- Taiwan: China illegally deploying oil rigs in its waters
- Manila mayor warns against mobs, orders police to maintain peace and order
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- LPA may still develop into short-lived tropical cyclone
- New judge to handle Dengvaxia cases named; hearing set
