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://705-888.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).
- China displays its weaponry in a tightly controlled military parade
- Anutin elected as Thailand's new prime minister
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- WBO champ looms as Pacquiao’s next opponent
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Head of main US health agency abruptly dismissed
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- PH Army showcases disaster response capabilities before Thai defense officials
- Marcos inspects rock shed project in Benguet
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
