28 March 2016 Philippines-Turkey income tax treaty enters into force The income tax treaty between the Philippines and Turkey (the Treaty) entered into force on January 11. Significant provisions in the Treaty include the following: (i) definition of permanent establishment (PE) (Article 5); (ii) income from Immovable Property (Article 6); (iii) shipping and air transport (Article 8); (iv) withholding taxes for dividends, interest and royalties (Articles 10, 11, 12); (v) taxes on capital gains (Article 13); and (vi) elimination of Double Taxation (Article 23). The Treaty becomes effective for both countries on January 1, 2017. A Tax Alert prepared by Ernst & Young's Global Tax Desk Network, and attached below, provides additional details. Document ID: 2016-0574 |
