MANILA, Philippines - The Department of Finance is hosting the International Tax Forum (ITF), which runs today until Friday this week, as part of efforts to put in place a fair and equitable tax structure to spur economic growth.
The ITF convenes various experts and professionals from government agencies, international financial and development institutions, the private sector, as well as academe and civil society to discuss relevant issues on taxation in light of regional integration and economic opportunities brought about by the upcoming Asean economic integration in 2015.
“We look forward to a dialogue with our neighbors and experts in light of our continuing efforts to effectively enforce a fair and equitable tax structure that would raise enough revenues to fund sustainable, inclusive growth,” Finance Secretary Cesar Purisima said.
Finance Undersecretary Jeremias N. Paul Jr. said the ITF would serve as an avenue for Asean nations to update and improve both tax policy and implementation.
Paul said the forum should boost competitiveness, ensure fairness, and promote inclusive growth.
“Countries like the Philippines have much to gain in inviting experts with rich experiences on these issues to share best practices and innovations on taxation,” Paul said.
High-level officials who develop and implement tax policy will share experiences, information, and developments on tax reforms with and among Asean and emerging countries.
Insights from multilateral development and financial organizations will also be heard in the forum as the Philippines and other Asean countries continue to explore innovations and enhancements in tax enforcement, sustainable health financing, and equitable tax policy.
Recently appointed UN tax expert Commissioner Kim Henares of the Bureau of Internal Revenue is expected to speak on the Philippine experience with taxation and best practices moving forward.
“As the Philippines continues to experience growth in an increasingly globalized world, we are very keen to share and learn with experts and our neighbors to improve enforcement of an effective tax system.