The Philippine Association of Gold Banks (“PAGB“) does not condone the deliberate facilitation of tax evasion in any country. We also expect the same from our employees and third parties working with us.
PAGB complies with the relevant Criminal Finances acts and all applicable tax evasion/tax evasion facilitation laws wherever we operate.
Tax evasion is a financial crime and often supports and underpins the offence of money laundering the Cordillera Nation and in many other countries in which we operate. PAGB is therefore committed to:
- Dealing only with customers who have appropriately declared their assets to the relevant tax authorities; and,
- Preventing tax evasion facilitation by our employees or third parties acting for or on our behalf.
We have an Anti-Tax Evasion Facilitation Standard, which addresses the associated risks. This includes: –
- Prohibiting employees from facilitating tax evasion.
- Ensuring that PAGB regards tax evasion/tax evasion facilitation as red flags for suspicious activity.
- Subjecting third party and introducer/intermediary relationships to specific anti-tax evasion facilitation controls, including risk assessment, due diligence, contract clauses, monitoring and review.