The Philippines government on May 4 commenced negotiations with Syria for the conclusion of a convention for the avoidance of double taxation and fiscal evasion.
The talks are expected to last three days and are being held at the Philippine’s Bureau of Internal Revenue (BIR) between BIR Commissioner of Internal Revenue, Joel Tan-Torres and Naeem Al Masri, an adviser from the Syrian Ministry of Finance.
When the tax convention is signed between the two countries it is expected to significantly bolster bilateral investment and trade flows. The agreement will assign taxing rights of the respective countries, laying a beneficial legal framework that will prevent the double taxation of businesses’ or individuals’ bilateral economic activities.
.Tags: tax | law | business | agreements | individuals | double tax agreement (DTA) | Philippines | Syria | Philippines
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