Philippines removed from France's fiscal black list-A A +A
Monday, September 2, 2013
THE Philippines is no longer on France's black list of tax evaders, the Department of Foreign Affairs (DFA) said Monday.
DFA said the Philippines was removed from the list of Non-cooperative Countries and Territories (NCCT) in matters of tax evasion by the French Ministry for the Economy and Finance.
Presently, it said the NCCT list includes Bermuda, Botswana, the British Virgin Islands, Brunei, Guatemala, Jersey, Marshall Islands, Montserrat, Nauru, and Niue.
DFA said the decision was published last August 28 in the Official Gazette of the French Republic.
It credited the ratification last February of the protocol amending the agreement between the Philippines and France on the avoidance of double taxation and the prevention of fiscal evasion for the Philippines' removal from the black list.
DFA said inclusion in the list is based on specific criteria, "such as the inability of a country or territory to provide fiscal transparency and administrative cooperation in the exchange of information for tax purposes." (JK/Sunnex)