Government officials open Asia Pacific Tax Forum

MANILA, Philippines - Senior government officials and industry representatives from the Asia Pacific region yesterday opened the Asia Pacific Tax Forum for its 9th annual meeting.

The three-day forum at the Makati Shangri-La Hotel aims to highlight the need for efficient tax policies to complement other non-fiscal policy objectives including environmental, health, and industrial development.

“The APTF Manila meeting will examine how to balance fiscal and non-fiscal objectives with tax policy,” International Tax and Investment Center president and APTF co-founder Daniel Witt said in a statement.

Witt said the country’s peers hope to learn from the Philippines’ tax regime and its overall fiscal regime.

Witt cited the Philippines’ recent credit rating upgrade from Standard & Poor’s to a notch below investment grade as a good sign that fiscal management in the country is going in the right direction.

“In this forum we are eager to learn from the Philippines’ example and we aim that all officials from business, the academe and government use the forum as a learning event to improve tax policies,” he said.

Revenue Commissioner Kim Jacinto-Henares said the forum is a good opportunity to present to other countries tax reform developments in the Philippines under the Aquino administration.

“We look forward to sharing international best practices from some of the most respected and knowledgeable speakers on taxation in different areas and how we can make an impact in improving our current system,” Henares said, who chaired yesterday’s Tax Administration Modernization session.

For his part, Finance Undersecretary Jeremias Paul, Jr. said the forum could serve as a chance for the public and private sector to enhance tax administration and deliver efficiencies to both sectors.

“This is a good time to explore how public and private cooperation can enhance tax administration and deliver certainty and efficiencies to both sectors,” Paul said.

According to the APTF, finance representatives from the Association of Southeast Asian Nations will also take the opportunity to gather information on international best practices and informally discuss issues and challenges in indirect taxation.