via Graphic Plus — The Government of Japan and the Government of the Republic of the Philippines have agreed in principle on the new Convention replacing the existing Tax Convention.
From 27 to 30 January 2026, Minister for Economic Affairs YOKOTA Naobumi, together with the Ministry of Finance (MOF) of Japan delegation, participated in the First Round of Renegotiation of the ‘Convention Between Japan and the Republic of the Philippines for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income.’
The Japanese delegation was led by Minister Yokota and officials from the MOF Japan. The delegation of the Philippines was headed by the Department of Finance (DOF) Assistant Secretaries Dakila Elteen M. Napao and Euvimil Nina R. Asuncion, together with the Bureau of Internal Revenue (BIR) Deputy Commissioner Larry M. Barcelo. Both delegations engaged in substantive and productive discussions on key provisions of the treaty.
The renegotiation marks an important step in strengthening the bilateral tax frameworks of the Philippines and Japan. It promotes a more reliable and stable investment environment, supports sustainable economic growth, and facilitates cross-border trade and investment while ensuring fair taxation for Japanese and Filipino businesses and individuals alike.
Through these discussions, both parties reached a substantive agreement for the first time in nearly 20 years to revise the tax treaty, reaffirming mutual trust and their long-standing partnership.
This milestone is especially meaningful as the Philippines and Japan are currently celebrating the 70th Anniversary of Friendship, underscoring the joint dedication to building a fair, transparent, and future-ready tax environment for both nations.
