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)
Hanoi (VNA) – An agreement was inked between Vietnam and China’sMacau Special Administrative Region (SAR) to avoid double taxation as well asprevent tax evasion, according to a press release by the Macau SAR’s financialservice department on April 16.
The pact was signed by Vietnamese Deputy Minister of Finance Do Hoang Anh Tuanand Macao SAR Secretary for Economy and Finance Leong Vai Tac. It aims atpreventing the two governments from simultaneously taxing the same incomesreceived by residents in the two territories.
Leong said that besides taxation cooperation, the Macao Special AdministrativeRegion is looking forward to deepening bilateral cooperation with Vietnam insuch sectors as trade, tourism and education.
The signing of the agreement was of great importance in increasing financial transparencyand preventing double taxation, and providing better conditions for developingeconomic and trade cooperation between the two sides, he added.-VNA
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Vietnam and Macau ink agreement to avoid double taxation as well as prevent tax evasion.
