VN-Cambodia agreement on double taxation avoidance ratified

HÀ NỘI — The Government has ratified an agreement on double taxation avoidance and income tax evasion prevention between Việt Nam and Cambodia.

The Government assigned the Ministry of Finance to coordinate with relevant ministries and agencies in Việt Nam and Cambodia to implement the agreement.

The agreement was officially signed on the occasion of the 6th Greater Mekong Sub-region Summit (GMS) and the 10th Cambodia-Laos-Vietnam Development Triangle Area Summit in Hà Nội in late March.

Economic and trade ties between Việt Nam and Cambodia have grown in recent years, with two-way trade hitting US$3.8 billion in 2017, up 30 per cent from the previous year.

Việt Nam has 190 investment projects in Cambodia with total registered investment of $2.89 billion, mainly in agriculture and forestries. As of March 20, Cambodia had 19 projects with total investment of $64.9 million, ranking 56th among 126 countries and territories investing in Việt Nam. — VNS