India okays amendments to double tax avoidance pact with Vietnam
The Union Cabinet of India has approved the Protocol amending the agreement on avoidance of double taxation and prevention of fiscal evasion for income taxes.
Vietnam, Indian businesses seek trade cooperation (Photo: VNA)
The Union Cabinet of India has approved the Protocol amending the agreement on avoidance of double taxation and prevention of fiscal evasion for income taxes.
The Protocol provides internationally accepted standards for effective exchange of information on tax issues, including bank information, the Indian Government’s Press Information Bureau said on October 7.
The protocol also stipulates that information on Indian citizens received from Vietnam can be shared with other law enforcement agencies with authorisation of the competent authorities of Vietnam and India.
The existing Double Taxation Avoidance Agreement (DTAA) between Ind ia and Vietnam was signed in 1994.
Both sides agreed to update the agreement’s Article 27 on the “Exchange of Information” in line with international standards and supplement a new article on “Assistance in the Col lection of Taxes. The amending protocol was issued for the purpose.-VNA
Prime Minister Nguyen Tan Dung has reiterated that Vietnam always rolls out the welcome mat for Indian investors and provides all possible assistance for them.
Vietnam and India are working closely together to achieve their bilateral trade target of 15 billion USD by 2020, a Vietnam Chamber of Commerce and Industry bigwig has said.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Vietnam, Indian businesses seek trade cooperation (Photo: VNA)
