Tax regimes are commonly seen as separate from investments and trade regimes, with no substantive linkages in between. As well, investments and free trade agreements (FTAs), whether bilateral, regional or multilateral, appear to be only marginally connected with tax matters.
Large-scale mining investments of Australia, Canada, the United Kingdom, South Korea and China, partnering with local elites, continue to destroy lives, communities and the environment in the Philippines.
The Philippines continues to be implicated in heavy illicit financial flows (IFFs), both inbound and outbound, which have been traced largely to the enduring practice of trade mispricing or the under/over-reporting of trade transactions.
With no internationally agreed tax standards in place, tax treaties or double taxation avoidance agreements (DTAAs/DTAs) have been described as “the most important element of the international tax regime, i.e., the generally applicable rules governing income taxation of cross-border transactions” (Avi-Yonah).