08:21 | 29/08/2018 VGP – The Government has approved the Agreement on avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income between the Governments of Viet Nam and the Macao Special Administrative Region of China. The Government has assigned the Ministry of Finance to host and coordinate with relevant agencies to launch the Agreement. The Ministry of Foreign Affairs is tasked to complete diplomatic procedures, announce and deposit the Agreement as regulated. By Thuy Dung … [Read more...] about Agreement on avoidance of double taxation with Macao ratified
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Government approves double taxation avoidance pact with Macau
Illustrative image (Source: Investopedia) Hanoi (VNA) – The Government has approved an agreement between Vietnam and China’s Macau Special Administrative Region on the avoidance of double taxation and prevention of income tax evasion. The Government assigned the Ministry of Finance to chair and coordinate the two sides’ relevant agencies to implement the pact. The Ministry of Foreign Affairs is thereby responsible for completing external procedures, as well as making announcements of and keeping a legal copyright of the agreement as stipulated. –VNA … [Read more...] about Government approves double taxation avoidance pact with Macau
Vietnam, China’s Macau ink double taxation avoidance pact
An agreement was inked between Vietnam and China’s Macau Special Administrative Region (SAR) to avoid double taxation as well as prevent tax evasion, according to a press release by the Macau SAR’s financial service department on April 16. Vietnam and Macau ink agreement to avoid double taxation as well as prevent tax evasion - Photo: Kiplinger The pact was signed by Vietnamese Deputy Minister of Finance Do Hoang Anh Tuan and Macao SAR Secretary for Economy and Finance Leong Vai Tac. It aims at preventing the two governments from simultaneously taxing the same incomes received by residents in the two territories. Theo VNA … [Read more...] about Vietnam, China’s Macau ink double taxation avoidance pact
Double Taxation Avoidance Agreement between Viet Nam and Hong Kong
The seminar was aimed at introducing regulations on the agreement in order to help Vietnamese and Hongkongese enterprises prepare and know clearly about the aforementioned agreement prior to the agreement coming into effect, bringing real benefit to enterprise community in the two sides. The double taxation avoidance agreement and the agreement on preventing taxation evasion with income-related taxes were signed between Viet Nam and the Hong Kong Special Administrative Region on December 16, 2008 in Ha Noi and will come into effect on January 1, 2010. Enterprises and people in the two sides will benefit once the agreements come into effect. Accordingly, if Vietnamese and Hongkongese enterprises and people pay taxes for their incomes and profit that they earned in Viet Nam or Hong Kong to the state budget of Viet Nam or Hong Kong, respectively, tariffs that they must pay to their mother countries will be deducted. The agreement was signed in order to foster the trade and investment … [Read more...] about Double Taxation Avoidance Agreement between Viet Nam and Hong Kong
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