The Philippines Department of Finance today announced that it may soon reach an agreement with Cambodia on the text of a tax treaty.
Substantial progress was made during the second round of negotiations, the Department of Finance reported.
“The negotiation was held in a friendly, cooperative and constructive atmosphere of mutual understanding, with a frank exchange of information and ideas,” said the Department of Finance in its report to Secretary Carlos Dominguez III.
The department also said it that it is currently holding talks with Ireland on a possible tax treaty.
The Philippines currently has tax treaties with several countries, including the United States, Switzerland, the United Kingdom and Northern Ireland, United Arab Emirates, Thailand, Australia, and Germany, the department said.
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