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Tax deal between PH and Ireland in the works


A double taxation agreement between the Philippines and Ireand are being explored by both countries, according to the Department of Finance (DoF). In a statement on Wednesday, the Finance department quoted Undersecretary Antonette Tionko as saying that a working draft of the deal is being studied by both parties. She noted that the first round of talks held in Manila recently covered discussions on avoiding double taxation on income and capital gains, as well as the prevention of tax evasion and avoidance. “The negotiation was conducted in a friendly atmosphere with mutual understanding, which allowed the two delegations to examine all of the articles under discussion,” she said. The DoF official stressed that provisions on persons covered, the taxes to be covered, provisions on residents and immovable property, and business profits, among others, “have already been mutually agreed upon.”



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