The Philippine government is pursuing 10 double taxation agreements with various countries, following last month’s signing of a renegotiated agreement with Japan, according to the Department of Finance as reported by Philstar Biz.
Double taxation agreements are bilateral treaties that prevent income from being taxed twice in both the source and residence countries. They are designed to attract foreign investment by providing clarity and reducing tax burdens for cross-border businesses.
The Department of Finance is leading the negotiations as part of the government’s broader tax reform and investment promotion agenda. No specific list of target countries has been released yet, but officials expect to expand the country’s network of DTAs to boost economic ties.