According to a release from the Philippine Bureau of Internal Revenue (BIR), Commissioner Romeo D. Lumagui, Jr. led the Philippine Negotiating Panel in the first round of negotiations for an income tax treaty with Hong Kong, which was held from 21 to 23 May 2025, with the two sides agreeing to hold a second round to finalize the treaty. Any resulting treaty would be the first of its kind between the two jurisdictions and must be finalized, signed, and ratified before entering into force.
--…