PH removed from France’s blacklist of tax havens

A+
A
A-

Finance Secretary Cesar Purisima. INQUIRER FILE PHOTO

MANILA, Philippines—The Philippines has been taken off the French government’s blacklist of non-cooperative countries with respect to tax evasion and money laundering.

This was announced Saturday by the Department of Finance, which said the government’s efforts to improve its information sharing on tax-related matters with the French government paved the way for the removal of the Philippines from the list.

The Bureau of Internal Revenue now has a solid information-sharing agreement with its counterpart in France, according to the DOF.

In fighting against tax evasion and money laundering, the French government encouraged countries to share tax-related information especially on French firms doing business in foreign territories.

Investors from countries on the blacklist are said to be slapped with stricter tax rules in France.

According to Finance Secretary Cesar Purisima, the Philippines’ removal from the blacklist was a welcome development as it signaled the country’s commitment to fiscal integrity.

“This move is recognition of the Aquino administration’s commitment and tangible progress in combating tax avoidance and promoting fiscal honesty,” Purisima said in a statement.

“We hope that foreign firms, and not just French ones, take this as a signal that the Philippines affords a level, competitive, and transparent playing field for everyone to do business in,” the finance chief added.

Together with the French government’s decision to remove the Philippines from the blacklist was its move to include Bermuda, British Virgin Islands on the list.

Other countries on are Guatemala, Brunei, Botswana, Marshall Islands, among others.

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • Lester Burnham

    Wala pang comment from anti-Pnoy’s.

    • walaywalay

      How can the DOF say the RP was removed from a list the DOF and—according to the DOF–the French gvt said that the RP is not even on?

  • walaywalay

    KEY WORDS>> according to the DOF

    Raise your hand if you believe anything the DOF says without proof positive

    we just had a money launderer who got caught in the USA skip probation and return to the open arms of the RP

    proof they support money launderers……….

    MAY 29 2013

    The French Foreign Minister has denied news reports that said the Philippines was among the 17 countries blacklisted.

    In a statement, Foreign Affairs Secretary Albert del Rosario said the Philippine government had sought clarification with the French government regarding the matter.

    “I have been officially advised that this information is totally inaccurate,” said del Rosario, adding that while there was indeed a new list of blacklisted states, the Philippines is not among them.

    Del Rosario further said the misinformation apparently stemmed from an interview of a civil servant by a French newspaper.

    On Wednesday, reports came out that France had blacklisted the Philippines and 16 other countries that do not help investigate foreign aid fraud.

    According to the reports, the countries which France included in its list of “non-cooperative states and territories” were Switzerland, Botswana, Brunei, Nauru, Guatemala, Lebanon, Panama, Costa Rica, the United Arab Emirates, Dominica, Liberia, Trinidad and Tobago, and Vanuatu.

    • casperrr

      so nung May pa ito? haha.

    • Gu3st

      so, who was the was one caught in the USA laundering money?

      • walaywalay

        HUH? LAPID!! she was sentenced to 5 month in house 3 yr out she returned here in june with a month of in house and 2 yr 7 mo probation and probably the fine left to do and pay she got $$ in several us banks as is the habit of money launderers

        FEB 3 2013

        CHICAGO – A US district court on Monday sentenced the wife of Sen. Lito Lapid to three years in probation for smuggling cash.

        Marissa Tadeo Lapid has been sentenced to three years of
        probation, including five months home confinement, a $40,000 fine, and
        forfeiture of $159,700 after pleading guilty to cash smuggling and
        conspiracy to structure money transactions.

  • hello stupids

    of course the french don’t want to put their money in Philippines if it keep losing value

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

editors' picks

advertisement
advertisement