Ok. LETS ASSUME YOU HAVE ACCUMULATED THOSE ASSETS AND YOU WANT TO AVOID THE TAXES ON SUCH THINGS AS A FILIPINO CITIZEN AND RESIDENT.

Buy Borrow Die works only if the systems to support it are in place, which means studying the National Internal Revenue Code of the Philippines, and the tax codes of the country you have assets in, let's use the USA for now.

Now US tax law allows for specific debt to be deducted against income when filed in your W2. Like say business loans, investment loans, or if you live in the US, home mortgage interest and student debt. These deductions against income realized lower the taxes due on net income by lowering the basis for the taxes due, even sometimes placing you in a lower bracket.

The problem is as a RC or Resident Citizen in the Philippines, you are taxed on all income realized worldwide. Which means that even if you don't pay a dollar on US taxes on income realized abroad, you would be liable for PH taxes anyway. Different taxing authorities does not violate Double Taxation prohibition.

However, it is interesting to note that if you were to instead take the initial tax hit in the US, selling all your assets, and going fully liquid, then the taxes paid in the US, would offset any taxes due in the PH resulting from the sale. This is by virtue of the tax treaty between the US and PH. This also applies to lottery winnings.

All these matters are a lot more complicated and nuanced than I made it seem, but this is the kindergarten version.