The Philippines and Cambodia have signed a double taxation agreement (DTA) aimed at strengthening their economic ties and attracting foreign investments. The agreement aims to eliminate double taxation on income earned in both countries, prevent tax evasion, and enhance economic cooperation.
THE Philippines and Cambodia inked a double taxation agreement as part of efforts to boost business confidence, increase trade, and spur economic growth between the two nations.
The DTA was signed for the Philippines by Recto and Cambodia’s Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation Prak Sokhonn on February 11. In particular, the agreement covers different aspects of taxation, including income from business profits, dividends, interests, royalties, capital gains, and other sources of revenue, ensuring a fair and efficient tax framework for businesses and individuals operating in both jurisdictions.
This initiative between the two nations is set to take effect following ratification by the respective legislative bodies in the Philippines and Cambodia.
DOUBLE TAXATION AGREEMENT TRADE INVESTMENT CAMBODIA PHILIPPINES
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