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., This news data comes from:http://redcanaco.com
“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.
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.”
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).
- Woman accused of murdering her children faces New Zealand trial
- Denmark summons US envoy over 'attempts to influence' Greenland
- Marcos suspends importation of regular, well-milled rice for 60 days
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Xi meets Modi as China and India seek to rebuild ties
- Israel army urges Gaza City residents to leave
- WBO champ looms as Pacquiao’s next opponent
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Tokyo logs record 10 days of 35 C or higher
