THE signing of the double taxation agreement (DTA) between the Philippines and Cambodia has been reset to 2025.'There was a request from Cambodia to move the signing to February,' Finance Secretary Ralph Recto told reporters in a text message.In May, the Department of Finance (DOF) finalized a draft of the DTA, which aims to ease the double-taxation burden on workers and companies in both countries, remove barriers to more trade and investment opportunities, and promote cross-border economic activities.The DTA covers the taxation of income earned by citizens and residents of the Philippines and Cambodia and outlines how each country shall impose and credit taxes paid in accordance with their respective taxation laws.Negotiations for the DTA started in Manila in 2018 and continued in Siem Reap in 2019.'These agreements protect our tax rights while facilitating cross-border trade and investment. Expanding our DTA network, particularly within Asean, allows Filipino businesses to diversify their markets with fewer tax burdens, boosting their competitiveness abroad,' DOF Revenue Operations Group Undersecretary Charlito Martin Mendoza said.Negotiations for a DTA with Lao PDR are ongoing while the DOF prepares to renew its respective DTAs with Indonesia, Malaysia and Singapore.Mendoza pointed out the DOF was strengthening transparency and compliance through partnerships like the Mutual Administrative Assistance in Tax Matters and the Automatic Exchange of Information to safeguard tax revenues and help create a fair, rule-based system for businesses operating across borders.
