The Philippines and Cambodia have completed the draft of a double taxation agreement (DTA), announced by the Department of Finance on April 19, 2024. This agreement is set to be signed in October and aims to enhance economic relations by eliminating double taxation for individuals and businesses operating across the two countries. This move is expected to facilitate increased trade and investment, aligning with commitments to complete the ASEAN DTA network. The DTA covers income taxation for citizens and residents of both nations and details the tax imposition and credit rules applicable in each country. The negotiations, which began in 2018 in Manila and continued in 2019 in Siem Reap, were led by notable officials from both countries’ tax departments.