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.erlvyiwan.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.”
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
- Thailand ruling party moves to dissolve parliament
- Motive probed for US church shooting that killed 2 children, injured 17
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Wife of Australian man wanted in police killings urges him to surrender
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Housing secretary declares 'zero-tolerance' policy on corruption
- DMW, pharmaceutical firm sign agreement to boost access to medicines, hospital services for OFWs, families
- China's Communist rulers push party role before World War II anniversary
- New Zealand to allow some wealthy foreign investors onto property market
- Former PNP chief Torre III offered new government post
