VN-Cambodia agreement on double taxation avoidance ratified

Illustrative image (Source: Internet)

Hanoi (VNA) – The Government has ratified the agreement on double taxation avoidance and income tax evasion prevention between Vietnam and Cambodia.

The Government assigned the Ministry of Finance to coordinate with relevant ministries and agencies of Vietnam and Cambodia in implementing 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 Hanoi in late March.

The economic and trade ties between Vietnam and Cambodia have grown in recent years, with two-way trade hitting 3.8 billion USD in 2017, up 30 percent over the previous year.

Vietnam is home to 190 investment projects in Cambodia, with a total registered investment of 2.89 billion USD, mainly in agriculture and forestry. As of March 20, 2018, Cambodia has 19 projects with a total investment capital of 64.9 million USD, ranking 56th among 126 countries and territories investing in Vietnam.-VNA