PH, Singapore conclude talks on updating 5-decade-old pact vs. double taxation

The Philippines and Singapore have concluded the negotiations for updating a pact entered into by the two neighboring countries nearly five decades ago to prevent double taxation.

In a statement on Friday, the Department of Finance (DOF) said the two countries concluded the negotiations to update the August 1977 Philippines-Singapore Convention for the “Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income" during a four-day talk held in Singapore from September 22 to 25, 2026.

The renegotiation seeks to reflect developments in the economies and international tax landscape of both countries.

The DOF said the development would pave the way for a modernized tax framework governing cross-border economic activities between the two countries.

The Finance Department added that the renegotiations will provide clearer and more predictable tax rules for cross-border income, strengthen cooperation between tax authorities, and ensure fair taxation between the two countries.

“The Philippines is committed to strengthening tax cooperation across the region. The renegotiation of the DTA will help modernize our tax framework to support investment and economic growth while protecting our legitimate taxing rights,” said Finance Secretary Frederick Go.

The agency said the update is particularly important given the Philippines’ deep and growing economic ties with Singapore, an important investment and trading partner.

Moreover, the movement of professionals, workers, businesses, capital, technology, and services between the two countries continues to support economic activity, the DOF said.

For the Philippines, the Finance Department said that renegotiations form part of the agency’s continuing efforts to strengthen and modernize the country’s network of tax treaties with ASEAN Member States and ensure that these agreements remain responsive to current economic realities and developments in international taxation.

The Philippines negotiating team was led by DOF Revenue Operations Group Assistant Secretary Euvimil Nina Asuncion, with Assistant Secretary Dakila Elteen Napao, Bureau of Internal Revenue Deputy Commissioner Larry Barcelo of the Legal Group, and Atty. Robbie Bañaga of the International Tax Affairs Division as members of the delegation.

The Singapore Team was led by International Tax and Relations Division (ITaRD)-Inland Revenue Authority of Singapore (IRAS) Assistant Commissioner Angela Ang, with ITaRD Tax Director Gordon Cheong, ITaRD Group Tax Specialist Wee Ling Chew, and ITaRD Senior Tax Specialist Rebecca Ng.

The DOF, meanwhile, welcomed the Senate’s concurrence in the Philippines-Cambodia DTA, which was signed in February 2025.

This brings the Philippines-Cambodia DTA closer to entry into force, it said.

Once in force, the Finance Department said, the agreement will set clear tax rules between the two countries, prevent double taxation, and strengthen cooperation against tax evasion and avoidance.

It will also provide a clearer and more predictable tax framework to support bilateral trade and investment and advance the Philippines’ efforts to deepen tax cooperation within ASEAN, according to the DOF. —LDF, GMA News