Andrea Marie Conel

One of the downsides of a tax system is double taxation. It occurs in international trade when the income a person — natural or juridical — earns from a country other than that of their domicile is taxed in two different countries for the same purpose. To resolve this issue, many countries have entered into bilateral agreements or tax treaties with other countries. The Philippines, for one, has agreements with over 40 other countries. These treaties may provide exemption and/or lower tax rates on certain taxes under their scope.

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