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PH, Cambodia reaffirm long-lasting friendship with 8 signed agreements
The philippines and Cambodia have signed eight agreements covering tax frauds, agriculture, tourism, digital conversion, investment, and technical vocational education, among others. President Ferdinand ‘Bongbong’ Marcos jr. and Cambodian Prime Minister Hun Manet hold a bilateral meeting at the Malacañan Palace on Feb. 11, 2025.
Source: MB.com.ph
Double taxation agreement with Cambodia to improve PH tax system
The signing was witnessed by President Ferdinand R. Marcos Jr. and Prime Minister Samdech Moha borvor Thipadei Hun Manet. The DTA aims to eliminate double taxation on income earned in the Philippines and Cambodia, prevent tax evasion, and enhance economic cooperation, in line with commitments under the ASEAN forum on Taxation.
Source: PNA.gov.ph
PH, Cambodia reaffirms diplomatic ties – SUNSTAR
President ferdinand “Bongbong” Marcos Jr., (right) and Cambodian Prime minister Hun Manet have agreed to strengthen the ties, especially through agriculture, education, trade and other investments. … They included the agreement on the elimination of double taxation, which reduces tax burdens for investors from both countries to secure …Source: [SUNSTAR](https://www.s…x facts and dispute resolution mechanisms in line with the Anti-Base Erosion and Profit Shifting and tax clarity initiatives and standards.
The agreement was finalized following three rounds of negotiations between the two countries.
The third and final round was completed in Manila in April 2024.
The agreement is set to take effect following ratification by the respective legislative bodies in the Philippines and Cambodia.
The signing of the DTA was part of Prime Minister Hun Manet’s two-day official visit to the Philippines on Feb. 10 to 11, 2025 to strengthen both nations’ relations and advance collaborations in key sectors as well as regional and multilateral cooperation.
Recto served as Marcos’ Cabinet-Secretary-in-Attendance during the official visit.
Marcos earlier cited the importance of the DTA.
“[W]e welcome our formal cooperation on the avoidance of double taxation and the exchange of best practices in competition law that the Philippines and Cambodia both consider as critical to entice and facilitate greater bilateral investments and economic activities between our business sectors,” Marcos said during the signing. (PNA)
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PH, Cambodia Reaffirm Long-Lasting friendship with 8 Signed Agreements
Table of Contents
the Philippines and Cambodia have recently strengthened their diplomatic ties by signing eight agreements that cover a wide range of sectors including tax frauds, agriculture, tourism, digital conversion, investment, and technical vocational education. This initiative, witnessed by President Ferdinand ‘Bongbong’ Marcos Jr. and Cambodian Prime Minister Hun Manet,signals a significant step towards enhancing regional cooperation and economic progress.
Exclusive Interview with Taxation Specialist, Dr. Maria Cruz
World-Today-News.com’s Senior Editor, Francisco Santos, sat down with renowned taxation specialist, Dr. Maria Cruz, to discuss the implications of the recent agreements between the Philippines and Cambodia.
Strengthening Bilateral Ties
Francisco Santos: Dr. Cruz, could you provide some insights into the meaning of these eight agreements signed between the Philippines and Cambodia?
Dr.Maria Cruz: Certainly. These agreements are critical for fostering economic cooperation and reducing barriers to trade and investment. The Double Taxation Agreement (DTA) is particularly crucial as it will help eliminate double taxation for income earned in both countries, which will encourage more businesses to invest across borders.
Eliminating Double Taxation
Francisco Santos: Can you elaborate on the implications of the Double Taxation Agreement (DTA)?
Dr. Maria Cruz: The DTA aims to prevent double taxation on income earned in the Philippines and Cambodia, which is crucial for attracting foreign investments. By reducing tax burdens, the agreement fosters a more conducive investment climate, encouraging businesses to explore joint ventures and collaboration opportunities in both countries. This also supports commitments under the ASEAN forum on Taxation, promoting unity and economic growth across the region.
Impact on Trade and Investment
Francisco Santos: How will these agreements impact trade and investment between the two countries?
Dr. Maria Cruz: These agreements will undoubtedly boost trade and investment. By addressing issues like double taxation and promoting best practices in competition law, both the Philippines and Cambodia are signaling their commitment to improving their business environments. This can lead to increased foreign direct investments (FDIs), job creation, and overall economic growth. The agreements also streamline processes and provide clarifications regarding anti-Base Erosion and Profit Shifting (BEPS) standards and tax clarity, which are essential for preventing tax evasion and fostering clarity.
The way Forward
Francisco Santos: What are the next steps for the implementation of these agreements?
Dr. Maria Cruz: The next steps include the ratification of the agreements by the legislative bodies of both countries. Once ratified, these agreements will come into effect, paving the way for enhanced cooperation and economic activities. Prime Minister Hun Manet’s recent visit to the Philippines underscores the commitment of both nations to strengthen their ties and collaborate in key sectors like agriculture, education, and investment.
Francisco Santos: Thank you, Dr. Cruz, for your insights.These agreements will undoubtedly strengthen the relationship between the Philippines and Cambodia, promoting economic growth and prosperity for both nations.
Dr. maria Cruz: Thank you, Francisco. It’s an exciting time for both countries, and I look forward to seeing the positive impacts of these agreements in the coming years.
