CARLOS G. DOMINGUEZ
Secretary of Finance
(Pleasantries)
This is another momentous day in the bilateral relations between the Philippines and Brunei Darussalam.
Since the establishment of full diplomatic relations between our two countries in 1984, the Philippines and Brunei Darussalam have nurtured a close, warm, and mutually beneficial partnership.
This partnership is elevated even more with today’s signing of our two countries’ agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
This agreement has come a long way since it was first introduced in Bandar Seri Begawan in 2001 and Manila in 2010. This has been a long time coming.
I thank our counterparts in the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam for bringing this document to fruition.
This agreement will serve us well as we bounce back from the ravages of the global health crisis. It will further ease trade in goods and services between our two countries. It will strengthen our economic cooperation and enhance investment flows and economic activity across our borders.
Rest assured, we will work to continue and deepen the coordination between our respective tax authorities in ensuring the proper implementation of the agreement and the enforcement of relevant tax laws.
I look forward to heightened cooperation between our two countries as we both exert all our efforts to recover from the pandemic and rebuild the best possible future for our two peoples.
Thank you.
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