PHILIPPINES and Germany have concluded the final round of talks for revision of their DTAA. The revised DTAA aims at facilitating trade and investments but also prevent tax evasion.

The German delegation was headed by Dr. Wolfgang Lasars of the Federal Ministry of Finance. It is reported that all outstanding issues were resolved during the last round of negotiations, with both parties agreeing on the adoption of new standards in the tax treaty. A formal signing of the new treaty is expected to take place eary next year.