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.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Vietnam, Indian businesses seek trade cooperation (Photo: VNA)
