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.
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.”, This news data comes from:http://www.gangzhifhm.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).
- ChatGPT to get parental controls after teen's death
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Fire breaks out in Manila residential area
- SC orders comment on petitions vs polls
- Prince Harry to visit UK on anniversary of queen's death
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Lacson: DPWH exec sought ‘insertions’
- Sara favors punishing officials, lifestyle checks
