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Fri, May 24, 2002 - Page 18 News List

Deal close on double taxation


Taiwan and the Philippines will sign an agreement next week to eliminate double taxation on investors and workers, Manila's de facto embassy to Taipei said yesterday.

The agreement was expected to be signed by Philippine and Taiwanese officials next Wednesday, a spokesman at the Manila Economic and Cultural Office said.

The deal would allow business-es with operations in both countries to pay most or all of their taxes in the area where the company was incorporated.

It would eliminate double taxation for some 90,000 Filipino workers in Taiwan, the official said.

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