Concurring in the Ratification of the Protocol Amending the Agreement Between RP and French Republic for Avoidance of Double Taxation
Senate Resolution No. 139-13, adopted on January 22, 2013, concerns the ratification of a Protocol amending the tax agreement between the Philippines and France aimed at avoiding double taxation and preventing fiscal evasion. This Protocol, signed on November 25, 2011, modifies provisions related to the exchange of tax information, requiring states to provide requested information regardless of its relevance to their own tax needs. It also ensures that information held by financial institutions or fiduciaries cannot be withheld solely due to its source. The resolution was endorsed by various government agencies and was necessary for compliance with constitutional requirements for treaty ratification.
Quick Answers
- What is Concurring in the Ratification of the Protocol Amending the Agreement Between RP and French Republic for Avoidance of Double Taxation about?
- Senate Resolution No. 139-13, adopted on January 22, 2013, concerns the ratification of a Protocol amending the tax agreement between the Philippines and France aimed at avoiding double taxation and preventing fiscal evasion. This Protocol, signed on November 25, 2011, modifies provisions related to the exchange of tax information, requiring states to provide requested information regardless of its relevance to their own tax needs. It also ensures that information held by financial institutions or fiduciaries cannot be withheld solely due to its source. The resolution was endorsed by various government agencies and was necessary for compliance with constitutional requirements for treaty ratification.
- What type of law is Senate Resolution No. 139-13?
- Concurring in the Ratification of the Protocol Amending the Agreement Between RP and French Republic for Avoidance of Double Taxation (Senate Resolution No. 139-13) is a Philippine Other Rules and Procedures enacted by the Congress of the Philippines.
- When was Concurring in the Ratification of the Protocol Amending the Agreement Between RP and French Republic for Avoidance of Double Taxation enacted?
- Concurring in the Ratification of the Protocol Amending the Agreement Between RP and French Republic for Avoidance of Double Taxation (Senate Resolution No. 139-13) was enacted on Jan 22, 2013.
- What is the citation for Concurring in the Ratification of the Protocol Amending the Agreement Between RP and French Republic for Avoidance of Double Taxation?
- Concurring in the Ratification of the Protocol Amending the Agreement Between RP and French Republic for Avoidance of Double Taxation, Senate Resolution No. 139-13, Jan 22, 2013 (Philippines)
Law Information
- Reference Number
- Senate Resolution No. 139-13
- Date Enacted
- Category
- Other Rules and Procedures
- Subcategory
- Senate
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
January 22, 2013
SENATE RESOLUTION NO. 139-13
RESOLUTION CONCURRING IN THE RATIFICATION OF THE PROTOCOL AMENDING THE AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES AND THE GOVERNMENT OF THE FRENCH REPUBLIC FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME
WHEREAS, Article VII, Section 21 of the Constitution states that, "No treaty or international agreement shall be valid and effective unless concurred in by at least two-thirds of all the Members of the Senate";
WHEREAS, the Protocol Amending the Agreement between the Government of the Republic of the Philippines and the Government of the French Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income was signed on 25 November 2011 in Makati, Philippines;
WHEREAS, the Protocol amends the Agreement between the Government of the Republic of the Philippines and the Government of the French Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income signed in Kingston on 9 January 1976 and modified by the Protocol signed in Paris on 26 June 1995;
WHEREAS, the Protocol amends Article 26 of the Agreement on Exchange of Information, by introducing Paragraphs 4 and 5;
WHEREAS, Paragraph 4 obliges a Contracting State to obtain information needed by the requesting Party, even if such information is not needed by the requested State for its own tax purposes;
WHEREAS, Paragraph 5 ensures that a Contracting State will not decline to supply information solely because the information is held by the bank, other financial institution, nominee or person acting in an agency or a fiduciary capacity or because it relates to ownership interests in a person;
WHEREAS, the Protocol shall enter into force on the first day of the month following the date of receipt of the last written notification from the Parties that their domestic requirements for entry into force have been complied with;
WHEREAS, the President of the Philippines ratified the Protocol on 18th October 2012 and has accordingly submitted it to the Senate for concurrence in accordance with the Constitution;
WHEREAS, in the hearing conducted by the Senate Committee on Foreign Relations on 14 December 2012, the following government agencies endorsed the concurrence in the ratification of the Protocol Amending the Agreement between the Government of the Republic of the Philippines and the Government of the French Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income:
1.Department of Foreign Affairs (DFA);
2.Department of Justice (DOJ);
3.Department of Finance (DOF); and
4.Bureau of Internal Revenue (BIR): Now, therefore, be it
Resolved, That the Senate of the Philippines concur, as it hereby concurs, in the ratification of the Protocol Amending the Agreement between the Government of the Republic of the Philippines and the Government of the French Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income.
Adopted,
(SGD.) JUAN PONCE ENRILEPresident of the Senate
This Resolution was adopted by the Senate on January 22, 2013.
(SGD.) EMMA LIRIO-REYESSecretary of the Senate
Cite This Law
Concurring in the Ratification of the Protocol Amending the Agreement Between RP and French Republic for Avoidance of Double Taxation, Senate Resolution No. 139-13, Jan 22, 2013 (Philippines)
Concurring in the Ratification of the Protocol Amending the Agreement Between RP and French Republic for Avoidance of Double Taxation, Senate Resolution No. 139-13 (Phil. 2013)
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