The income tax treaty between Brunei and the Philippines was signed on 16 July 2021. The treaty is the first of its kind between the two countries.
Taxes Covered
The treaty covers Brunei income tax imposed under the Income Tax Act and petroleum profits tax imposed under the Income Tax (Petroleum) Act. It covers Philippine tax on individuals, tax on corporations, tax on estates and trusts, withholding tax on income, and stock transaction tax.
Service PE
The treaty includes the provision…