By Justine Irish D. Tabile, Senior Reporter
THE NEWLY SIGNED tax agreement between the Philippines and Liechtenstein is expected to encourage Liechtenstein-based companies to expand their operations in the country and attract fresh investments, Finance Secretary Frederick D. Go said.
“They already have companies operating in the Philippines. This signing should encourage such companies to expand their operations in the Philippines,” Mr. Go told BusinessWorld.
“Moreover, this would encourage new companies to consider our country if they plan to set up investments in Asia,” he added.
Mr. Go and Liechtenstein Prime Minister and Minister of Finance Brigitte Haas signed the agreement for the avoidance of double taxation (DTA) on the sidelines of the 2026 International Monetary Fund-World Bank Annual Meetings in Bangkok, Thailand last week.
The agreement seeks to eliminate double taxation on income and prevent tax evasion and avoidance, providing a more predictable tax environment for businesses and investors from both countries, the Department of Finance (DoF) said in a social media post.
Mr. Go said the agreement is expected to help increase investments in the Philippines, generate employment opportunities and support the development of industries that could attract further investments.
“The goals are to increase investments in our country to provide quality job opportunities to our people and build an industrial ecosystem that will support even more investments and make this growth sustainable,” said Mr. Go.
The DoF earlier said the agreement would help strengthen investor confidence and economic cooperation between the Philippines and Liechtenstein, paving the way for greater trade and investment opportunities.
Including Liechtenstein, the Philippines has signed DTAs with 45 jurisdictions, although the agreement with Liechtenstein still requires Senate concurrence before it can take effect.
Separately, Mr. Go also met with representatives of UK-based financial technology company Revolut and global financial messaging provider Swift during the annual meetings to discuss ways to lower cross-border transfer costs, particularly for overseas Filipino workers (OFWs).
In a Facebook post, the DoF said discussions with Revolut focused on reducing transaction costs and expanding access to digital financial services.
“The meeting explored opportunities for Revolut to establish a presence in the Philippines, including potential partnerships with local institutions,” the DoF said.
Mr. Go emphasized the need to make legitimate money transfer channels more accessible to OFWs to help protect their earnings from risks associated with informal channels and predatory intermediaries.
Meanwhile, Mr. Go also met with Swift Chief Executive Officer Javier Pérez-Tasso to discuss ways to improve the speed, affordability and transparency of cross-border payments to the Philippines.
“Discussions covered working with banks and payment providers in key remittance markets and connecting existing payment systems to facilitate transfers to Philippine bank accounts and digital wallets,” the department said.