Philippines, Singapore conclude talks on tax treaty update

MANILA, Philippines — The Philippines and Singapore have concluded negotiations for an updated double taxation agreement (DTA), paving the way for clearer tax rules governing cross-border income between the two countries.

The Department of Finance (DOF) said the agreement was reached during the four-day negotiations held in Singapore from Sept. 22 to 25.

“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,” Finance Secretary Frederick Go said in a statement.

The two countries originally signed their DTA in 1977.

According to the DOF, the treaty was renegotiated to reflect developments in the economies of both countries as well as changes in the international tax landscape.

The update comes as the Philippines maintains deep and growing ties with Singapore, an important investment and trading partner. 

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

The renegotiation is also part of the DOF’s efforts to strengthen and modernize the Philippines’ network of tax treaties with fellow member states of the Association of Southeast Asian Nations, as well as ensure that these agreements remain responsive to current economic realities and developments in international taxation.

The Philippine negotiating team was led by DOF revenue operations group assistant secretary Euvimil Nina Asuncion, while Singapore’s team was headed by International Tax and Relations Division – Inland Revenue Authority of Singapore assistant commissioner Angela Ang.

Meanwhile, the DOF said the Senate’s concurrence in the Philippines-Cambodia DTA, signed in February 2025, brings the agreement a step closer to taking effect.

Once in force, the treaty will 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,” the DOF said.

Asuncion earlier said the country is also looking to conclude negotiations for DTAs with several countries this year, including Oman.

Currently, the Philippines has around 40 DTAs with multiple countries, according to the Bureau of Internal Revenue.