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Philippines Updating Procedure On Tax Treaty Benefits

by Mary Swire, Tax-News.com, Hong Kong

24 August 2016


The Philippines has announced a new simplified procedure to ease non-residents' access to double tax treaty benefits.

The Philippine Bureau of Internal Revenue (BIR) has issued a draft Revenue Memorandum Order on the procedure for claiming tax treaty benefits for dividend, interest, and royalty income earned by non-residents.

The draft Order states that instead of filing tax treaty relief applications for income earned in the Philippines, non-residents, with support from a withholding agent, will be able to automatically use the preferential rate or exemption prescribed under tax treaties by submitting to the International Tax Affairs Division a new certificate of residency for claiming tax treaty benefits.

The Order amends an earlier Revenue Memorandum Order 72-2010 on the subject.

Comments must be received by August 30, 2016.

TAGS: tax | business | tax avoidance | interest | revenue guidance | law | Philippines | ministry of finance | tax authority | agreements | tax planning | transfer pricing | tax reform | trade | Tax

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