DOF chief welcomes Senate support to PH participation in int’l tax cooperation convention
DOF chief welcomes Senate support to PH participation in int’l tax cooperation convention
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NewsTranscript
00:00Finance Secretary Ralph Rector said the country's participation in the Convention on Mutual
00:05Administrative Assistance in Tax Matters, or MAAC, will help stop tax evasion and avoidance.
00:13The Finance Chief is pleased MAAC is now in full force, emphasizing its role in increasing
00:19the nation's revenue capacity to meet growing needs.
00:22Moreover, he is expecting the MAAC to enhance tax administration, noting that it gives the
00:28government access to data exchange, assessment and enforcement tools with over 100 partner
00:34signatories.