Kim Henares appointed to UN committee

ABS-CBN News

Posted at Nov 04 2014 10:19 AM | Updated as of Nov 04 2014 06:19 PM

MANILA, Philippines - Bureau of Internal Revenue (BIR) chief Kim Henares has been appointed by United Nations Secretary General Ban Ki Moon to the UN Committee of Experts on International Cooperation in Tax Matters.

Henares is one of 25 tax experts and senior tax administrators from 10 developed and 15 developing countries who have been appointed to the UN committee. The committee is responsible for exploring ways and means of facilitating the conclusion of tax treaties between developed and developing countries and for promoting international tax cooperation among tax authorities.

Henares said her appointment to the committee is an opportunity to advance the interest of developing countries in the formulation of tax treaty commentaries and recommendations to various tax issues.

The BIR, like many tax agencies from developing countries, are facing serious challenges in enforcing laws and collecting taxes from cross-border transactions.

A 2014 report by the Global Financial Integrity estimates that the Philippine government has lost at least $23 billion tax revenues since 1990 from trade mis-invoicing.

"Globalization does not just create opportunities for doing business, it also creates risks for tax evasion and base erosion. Unlike advanced countries, we lack the capacity to tackle complicated cross-border tax problems. It is important to have this platform and be part of this body where developing countries are given special attention in dealing with these issues," she said.

Henares' term in the UN committee began in October and will end on June 30, 2017.