The Philippines and Cambodia may soon reach an agreement on the avoidance of double taxation on the individuals and companies of the two countries, following the substantial progress made during the second round of negotiations between their respective high-level officials, the Department of Finance (DOF) has said.

A Philippine delegation to the second round of negotiations led by Undersecretary Antonette Tionko reported that Cambodia has agreed to “the majority 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,” said the DOF-led delegation in its report to Secretary Carlos Dominguez III.

Tionko, as head of the DOF’s Revenue Operations Group (ROG) and chairperson of the International Tax Policy Technical Working Group, led the Philippine delegation to the negotiations held Dec. 11-13 in Siem Reap, Cambodia.

The delegation included Finance Assistant Secretary Dakila Napao, Bureau of Internal Revenue (BIR) Deputy Commissioner Marissa Cabreros and other representatives from the DOF and BIR.

Deputy Director General Bun Neary 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.

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