The Philippines and Cambodia are eyeing an agreement on double taxation following the substantial progress made during the second round of negotiations between their respective high-level officials, the Department of Finance (DOF) said.
The DOF said in a statement yesterday the Philippine delegation led by Antonette Tionko, DOF undersecretary, reported that Cambodia has agreed to most of the proposals of the Philippines on the provisions of the double taxation agreement (DTA).
“The negotiation was held in a friendly, cooperative and constructive atmosphere of mutual understanding, with a frank exchange of information and ideas,” the DOF-led delegation said in its report to Carlos Dominguez, DOF secretary.
The negotiations were held December 11 to 13 in Siem Reap, Cambodia. The delegation included Dakila Napao, DOF assistant secretary; Marissa Cabreros, Bureau of Internal Revenue (BIR) deputy commissioner, and other representatives from the DOF and BIR.
Bun Neary, deputy director general of the General Department of Taxation, led the Cambodian side.
The meeting followed the first round of discussions on the DTA hosted by the DOF in Manila in June 2018.
The Philippines currently has existing DTAs with several countries, including the United States, Switzerland, the United Kingdom and Northern Ireland, United Arab Emirates, Thailand, Australia and Germany.
It is also currently holding talks with Ireland on a possible DTA.