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.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).
- Japan prince comes of age as succession crisis looms
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Globe: Mobile data helps drive national progress
- 'Strangest' dinosaur covered in spiked armory – scientists
- N. Korea test-fires two 'new' air defense missiles
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Suspect in 2012 killing of Dutch aid worker freed
- A summit and parade in China may signal a geopolitical shift
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Hontiveros pushes P15,000 salary hike for teachers
