Manila NRIs: The India-Side Changes of 2024-26
TL;DR
Your India-Philippines DTAA caps interest at 10% and dividends at 15-20%. Unchanged. Four India-side rules affecting your Indian tax filing have shifted in the last 24 months.
TrustNRI Editorial · Reviewed by ICAI-registered Chartered Accountants
The Philippines setup
Most Indians in the Philippines are in Manila, Cebu, and Davao, many in IT, shared services, and retail. Your India-Philippines DTAA caps interest at 10% (Article 11) and dividends at 15-20% depending on ownership.
The Philippines BIR (Bureau of Internal Revenue) issues TRCs; the process is manual and can be slow (4-8 weeks). Plan ahead if you need one for an Indian filing deadline.
Manila NRIs: the Form 10F deadline you didn't know about
**Section 148** reassessment: 3/5-year window, down from 10. September 2024.
**Faceless mandate** for 148 notices confirmed by Supreme Court (July 2025).
**Budget 2024** 12.5% flat LTCG on NRI property, no indexation. From 23 July 2024.
**Black Money Act** small-asset threshold raised to ₹20L from 1 October 2024 (Finance (No. 2) Act 2024 amendment).
Form 10F must now be filed electronically on the Indian portal.
Practical next step
If you have any of the following, talk to us:
All of these are Section 288 Authorized Representative work, we handle it, you stay in Manila.
Related resources
Country guides mentioned
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