By Chino S. Leyco The Department of Finance (DOF) started its negotiation with the government of Ireland for a possible bilateral agreement aiming to avoid double taxation on individuals and companies in both countries. In a statement, Finance Undersecretary Antonette C. Tionko said yesterday that the two nations recently held their first round of negotiations and discussed ways to avoid double taxation on income and capital gains as well as the prevention of tax evasion and avoidance. Tionko, however, said that there are still other provisions under the draft agreement that need to be considered by the Philippines. Among the provisions that need to be ironed out are “Permanent Establishment and Entitlement to Benefits, the provisions on Persons Covered, the taxes to be covered, provisions on Residents and Immovable Property, and Business Profits, among others.” Tionko, who heads the Revenue Operations Group of the DOF, said a working draft of a double taxation agreement between the Philippines and Ireland is now being studied by both sides. “The negotiation was conducted in a friendly atmosphere with mutual understanding, which allowed the two delegations to examine all of the Articles under discussion,” Tionko said. According to Tionko, both delegations are set to meet again to further deliberate on items that have not yet been agreed upon during the initial round of talks. “Further, both delegations undertook to review outstanding items with their respective authorities. Once completed, arrangements will be made regarding the second round of negotiation to take place at a mutually agreed place and date,” Tionko said.