The Department of Finance (DOF), upon the invitation of His Excellency, Ambassador Paul Raymund P. Cortes of the Philippine Embassy in Portugal, exchanged best tax practices with Portugal’s Ministry of Finance to further improve the Philippines’ tax system and aid national development.

The Philippine delegation included the DOF’s Tax Research and Expenditure Monitoring (TREM) Undersecretary Renato E. Reside, Jr., Policy Development and Management Services Group (PDMSG) OIC Undersecretary Niño Raymond B. Alvina, National Tax Research Center (NTRC) Executive Director Mark Lester L. Aure, and NTRC Deputy Executive Director Michael F. Ricaza.

The Philippine delegation engaged in several bilateral meetings from October 7 to 14, 2024 with their counterparts at the Portuguese Ministry of Finance led by Mr. Fernando Campos Pereira, Deputy Director General of Tax and Customs Authority, where they explored partnerships for training, research, capacity-building, as well as other educational opportunities available for the DOF and its attached bureaus and agencies.

The mission allowed the Philippines to share its experiences, opportunities, and challenges brought about by increased e-commerce and digitalization.

Moreover, both parties discussed tax policy, tax administration, and modernizing collection systems.

The delegation also held meetings on trade and investment with Portuguese Secretary of State for Foreign Affairs and Cooperation Dr. Nuno Sampaio, Portuguese Trade and Investment Agency (AICEP) Chief Executive Dr. Joana Gaspar, and officials of the Portuguese Ministry of Agriculture.

Finally, they explored educational and research links with officials of Universidade de Lisboa and Universidade Lusofona, and Filipino graduate scholars of the Erasmus Program studying in various Portuguese universities.