The Philippines has joined a regional initiative that aims to set tailored solutions to ensure the implementation of tax transparency standards across Asia, the Department of Finance (DOF) said.
The Philippines has joined a regional initiative that aims to set tailored solutions to ensure the implementation of tax transparency standards across Asia, the Department of Finance said.
“The Philippines would greatly benefit from joining the Asia Initiative as we will have access to custom-tailored capacity-building activities offered by Asia Initiative partners to promote international tax transparency,” Diokno said in a statement Thursday, Feb. 16. The Asia Initiative, launched in November 2021, aims to support the effective implementation and use of the tax transparency standards to fight tax evasion and other illicit financial flows, helping mobilize domestic resources and develop tax cooperation across the region.
The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of financial account information.
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