Singaporean Minister of Foreign Affairs Vivian Balakrishnan (R) and Brazilian counterpart Aloysio Nunes Ferreira after the signing of the Avoidance of Double Taxation Agreement on May 7, 2018 (Source: www.straitstimes.com) Buenos Aires (VNA) – Brazil and Singapore have signed a double taxation avoidance agreement and are considering the possibility of signing a free trade agreement (FTA) between Singapore and Mercosur, the South America trade bloc. According to a statement released by the Brazilian Ministry of Foreign Affairs on May 8, the agreement was inked by Singaporean Minister of Foreign Affairs Vivian Balakrishnan and his Brazilian counterpart Aloysio Nunes Ferreira. The deal aims to prevent tax evasion and taxes paid twice on the same source of income of people staying in the two countries as well as foster bilateral investment. In a meeting held in Singapore, the foreign ministers underlined the development of bilateral trade cooperation in recent years. They … [Read more...] about Brazil, Singapore ink double taxation avoidance deal
Double taxation agreements
Vietnam, Hong Kong sign double taxation avoidance pact
Vietnam, Hong Kong sign double taxation avoidance pact By Thanh Trung - The Saigon Times Daily HANOI - Vietnam has signed a comprehensive agreement on double taxation avoidance with China's Hong Kong on the occasion of the Hanoi visit by John C Tsang, financial secretary of the Special Administrative Region. "The signing of this Avoidance of Double Taxation Agreement will further deepen our bilateral relations and will serve the mutual interests of both sides," he told a press briefing in Hanoi on Tuesday. The agreement serves the mutual interest of the two sides by offering a higher degree of certainty on taxation rights of the two contracting parties and will become an added incentive for companies in Vietnam to do business in Hong Kong and vice versa, he said. After the signing ceremony in Hanoi, Tsang attended the "Hong Kong - Your Regional Partner for Success" business seminar organized by the Hong Kong Trade Development Council. He also worked with Vietnamese government … [Read more...] about Vietnam, Hong Kong sign double taxation avoidance pact
Vietnam, San Marino ink anti-double taxation agreement
Viet Nam and San Marino signed an agreement to avoid double taxation in Rome, Italy on February 14. The agreement targets to prevent asset and income tax evasion and helps beef up bilateral economic cooperation between the two sides. Addressing the signing ceremony, Deputy Finance Minister Truong Chi Trung stressed that the agreement's clear and transparent tax regulations will create a sound legal environment for both sides to conduct business and invest in each country. The document will help facilitate economic, investment and trade cooperation between the two countries, create tax incentives for foreign investors in Viet Nam nd raise economic and investment cooperation between Viet Nam and other European countries. San Marino Minister for Finance and Budget Claudio Felici said the agreement is very important for a small country like San Marino, given the current global economic recession. Despite limited trade activities between San Marino and Viet Nam, the signing of the … [Read more...] about Vietnam, San Marino ink anti-double taxation agreement
Vietnam, Hong Kong sign pact to avoid double taxation
Vietnam and Hong Kong Tuesday signed a double taxation avoidance agreement that reduces the amount of tax to be paid by investors, the Ministry of Finance said. Speaking at the signing ceremony of the Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income in Hanoi Tuesday, Deputy Minister of Finance Do Hoang Anh Tuan said the agreement would boost cooperation between Vietnam and Hong Kong, and enhance the bilateral relationship between Vietnam and China. … [Read more...] about Vietnam, Hong Kong sign pact to avoid double taxation
Agreement on Avoidance of Double Taxation and National Treasury
With the Agreement and the Protocol on “Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income” adopted by the Government of Vietnam and the Government of the United States, Vietnam has signed agreements on double taxation avoidance with 77 countries and territories in the world, which play an important role in the globalisation process. However, it is time for Vietnam to consider benefits in exchange of sacrifices. Boosting the economy After 30 years of economic opening, to attract investment and boost trade, Vietnam negotiated and signed agreements on avoidance of double taxation with 77 countries and territories in the world as of July 2017. As of November 20, 2017, Vietnam was home to 24,580 effective foreign direct investment (FDI) projects with a total capital of US$316.91 billion registered by investors from 126 countries and territories. Foreign investors invested in 19 out of 21 economic sectors of Vietnam in all 63 … [Read more...] about Agreement on Avoidance of Double Taxation and National Treasury