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.yamato-syokunin.com
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).
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Former Bulacan district engineer admits going to casinos
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Workers urge Marcos to stop corruption by banning political dynasties
- 9 dead in Ecuador after bus plunges into ravine
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- New law lets foreigner investors lease land for 99 years
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Thai Court: PM Shinawatra violated ethics rules
