PH, Japan update tax rules for firms, OFWs

THE Philippines expects stronger trade and investment ties with Japan following the signing of a renegotiated double taxation agreement that updates cross-border rules and provides greater certainty for businesses and workers. The Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income was signed during President Ferdinand Marcos Jr.’s state visit to Japan. The updated agreement replaces a treaty originally concluded in 1980 and