Thank you, Chair,

The Philippines welcomes this first session of the Ad-Hoc Committee to Draft Terms of Reference for a United Nations Framework Convention on International Tax Cooperation.

The Philippines reiterates its support for the promotion of inclusive and effective tax cooperation through the United Nations following the adoption of Resolution 78/230, which the Philippines supported.

We thank Nigeria and the African Group for their leadership on this important topic, crucial to the achievement of the 2030 Agenda for Sustainable Development and financing for development.

The Philippines is committed to ensuring tax fairness among nations and recognizes that international cooperation is urgently needed to combat cross-border tax evasion, illicit financial flows, incessant base erosion and profit-shifting, and in closing tax gaps and developing common measures to address international tax issues.

We wish to highlight the following principles, which we believe should be taken into account in deliberations on the Terms of Reference:

1. Interdependence: It is imperative to acknowledge the interconnectedness of nations in addressing global tax challenges.
2. Equitable Partnerships: Prioritizing the establishment of equitable partnerships among nations, particularly between developed and developing countries.
3. Capacity-Building: Recognizing the diverse capacities and needs of countries and their tax administrations, and seeking to enhance capacity-building for developing countries.
4. Inclusivity: Ensuring the meaningful participation of relevant stakeholders and concretely addressing the concerns of developing countries in areas of international taxation that are not addressed by current proposals or frameworks - reaffirming multilateralism as a cornerstone of international tax cooperation.
5. Sustainable Development: Contributing to the implementation of the Sustainable Development Goals (SDGs) and serving as a catalyst for domestic resource mobilization, strengthening tax systems, and advancing progress toward sustainable development, especially for developing countries.
6. Adaptability and Flexibility: Our approach should be adaptable and flexible, allowing for periodic review to ensure relevance and effectiveness over time. There must also be collaboration and synergies with existing bodies on international tax cooperation to achieve objectives without duplication.
7. Good practices: We hope this process will showcase national and international good practices and cooperation programs.

In conclusion, we look forward to productive discussions of this first session of the Ad Hoc Committee, in which all delegations will engage in a constructive and open spirit. Thank you.